I have an old Citi card, Capital One card, Best Buy, Chase, and then a few smaller ones- Wal Mart, Express, and Lane Bryant. I haven’t made a payment on most of them in at least 2 years. I stopped paying them cold turkey because they jacked the interest way up and wouldn’t negotiate with me, and I couldn’t afford to pay them along with tuition, rent, etc. since I didn’t receive help from my family. I’m not even sure what I owe, but with all the fees I’d estimate I owe a total of ,000-,000 spread out on them all. Without the fees it would have been half of that. In addition, I have ,000 in student loans. I’m not making much money right now at all. For now I’ve just been focusing on paying my student loans in the hopes of rebuilding my credit. I don’t see how I could afford paying off my credit cards. What should I do about them? I’m not getting many calls anymore, but lately someone is calling threatening to sue me for 00 credit card. They have threatened to sue me before (Citi Bank) and even sent me a summons of court letter, but never followed through. What is my best option? For now I plan to keep ignoring them but I am sick of this problem. Help!
Thanks roscoedeadbeat. All my credit cards are already in collections, and they have been for about 2 1/2 years. I also had a 2nd Citi and 2nd Chase card but paid them off as a settlement years ago with some student loan money… Now, the problem is, I don’t feel like I really can afford to pay them. I’m already having a hard time paying my student loans- right now I have to pay 0/month and soon I will start paying my private loans which will be around 0/month for a total of 0. I feel so overwhelmed! Maybe I’ll talk to them and ask what is the lowest they can settle for, and then see if my family can help me at all, but I hate to ask them for help. Thanks for your answer though.
Thank you for the answers Sgt Big Red and carl.bennet. I looked up the statute of limits in my state (MN) and it is 6 years… so I am about halfway through. I might end up making more money in the future, but I don’t see it happening for a while. I plan to go back to school within the next year (either part-time or full-time if I get a graduate assistantship), and that will take me at least 2 more years. So maybe I will continue to wait it out. I don’t want to deferr my student loans right now because I want to save deferrment for a later time in case I’m in a worse situation then- such as if I have a baby or get sick. And I can only defer my federal student loans, I can’t defer the state loans. It’s so hard- I wish I had been smarter about debt, but I guess you live and learn. I appreciate your answers.
Oh one more thing- this is a bit desparate, but if I moved out of state to where they have a lower statute of limits, would the new statute of limits apply to me? Or would it be the same statute of limits since it originated in MN? Thanks!

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I am ,000 in debt from credit cards , charge accounts , and a few bad checking accounts . They are all in collections with an outside agency . I’ve been applying for credit cards and I keep getting denied . I currently have a new job and I don’t know if I should file bankruptcy or just pay these collections and STILL LET THEM SIT ON MY REPORT AND NOT BE APPROVED FOR NO CREDIT . I really am starting to think BK for a fresh start . And I’m not even 20 yet . HELP !
I already had a full secured credit card from a local credit union and thats closed with a high balance and i already had a partial secured credit card from bofa . Should I get like a capital one secured card or Citi secured credit meanwhile while im paying off these collections ? I would like to finance a car soon !

Technorati Tags: applying for credit cards, bankruptcy, bk, bofa, capital one, capital one secured card, charge accounts, checking accounts, collections, fresh start, new job, secured credit card

I owe capital one 4,000
I want to pay by making payments to the collection agency but they said "no"
If I want to settle with them what are the proper steps to take?
Pleas help.
I noticed it’s already on my credit report as charged off.
Please any advice would be greatly appreciated.

Technorati Tags: capital one, credit report, proper steps

I have 5 credit cards total. 2 with American express, 1 with Washington Mutual, 1 with Capital One, 1 with Barclay. The debt with WaMU has been sold to a company, and is no longer owned by them. The rest of the debts are still ‘owned’ by the original creditors and I can settle the amounts with them, most at 50-60%.

I have not made payment on any of these accounts in over 5-6 months, and am now in a position through assistance from a family member to pay off all the debts via settling. After speaking with a couple of people though as to how this will affect my credit I wanted to know what I should do.

Should I settle the cards? Or should I file bankruptcy? The total debt on credit cards is -14,000K. I also have k in student loans, and a ,000 judgment against me from court. I am fairly certain that me filing bankruptcy would not remove the judgment against me, or my student loan as it is through the federal government. Am I wrong?

My main question though is, what will hurt or be best for my credit? Me settling the debts, or filing bankruptcy? Which helps me the best for rebuilding my credit in the least amount of time?

Technorati Tags: american express, amount of time, barclay, capital one, credit cards, creditors, debts, family member, federal government, filing bankruptcy, judgment against, should i file bankruptcy, student loan, student loans, wamu, washington mutual

Just today I printed my credit report and I called to start settling all my debts. All went well considering and I made arraignments to pay my Capital One credit card bill off in six months. My Chase collector is in TN where I used to live. The lady informed me they will be serving me in a few days. I hadn’t yet told her my new address as I did for my other collectors. She said I could pay the 1,515 (my credit reports it as 989). I spoke to my mother afterwords and she told me someone was by her home looking for me. I am 21 and haven’t lived at that address since I was 18 and I applied for the credit.

What is the likely-hood they will settle when I explain to them tomorrow I don’t live in TN, I live in OH. I am a student who receives non-garnishable federal-aid. I am a server that makes .00 a week in a state that only lets you garnish 25% MAXIMUM of expendable income. I don’t have a bank account to freeze. I don’t own a car or home to put a lien on, and frankly I am offering them all I have when I say I’ll pay you 0.00.

I asked a similar question earlier but more people were focusing on telling me to get some integrity or make sure they are even really suing me. They are trying to serve me…but what do they have to really gain from that when they could just take a hunk of change. It will cost me what I have to give them to get to TN ,if they can sue me there, just in travel.
I am trying to get as many points of view and opinions based off experience and understanding of what they legally can do out of my jurisdiction. There are a lot of conflicting answers but I need well articulated answers.
To who asked me how I am settling my others. I make 50.00 in paid wages. I make like 200 in tips a night. They don’t know that. I know I probably seem retarded when I keep asking but my point is, how can they even touch me in OH with a TN court decision that I havent been served for! Why bother serving people if you dont have to? I get they are probably going to get their settlement…and I’ll just pay it. Its not even really THAT much, I just can’t understand, again, how TN who has very different laws as to collecting after a judgment can push those on me here. I seriously dont even object to them suing me here where I can be present and aware of it. Beyond it all, I think I am most annoyed that the company on my report wasnt even these people. They had passed it on to two other agencies that I had to hunt down just to try and make it all right. Thats why there is nothing about this 500 buck increase anywhere in the past 11 months on my report and its my dumba$$ for looking for it.

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My capital one credit card went into collections about 2 years ago..i just contacted alliance one about settling my debt. i owed about 1350 dollars and settled for 950 to pay over three months and then my account will be settled. was this smart? how will this look on my credit report? will my score go up from paying this debt or go down because i settled? thanks

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Long story but I had a Capital One Credit Card with a limit of 00. I ended up not being able to pay the bill. I was swamped with other bills, and since Cap One insists on calling me 20 times a day, I decided they would be paid last.

I have made a good faith effort to pay toward the card when I have the money. I even sold my car for 25 and put toward the card. I just can’t make any progress toward paying off the card.

I now have 00.53 on the card and have received a pre-legal notice. Their voicemails say they have some special offers for me.

I have been setting aside money to make my minimum payment but the minimum payment increases faster than I can save the money. It is currently 9 and I have about 5 saved.

Would they let me pay them 0 now and then every two weeks? I just don’t want to give them any money if it’s all going to be eaten up by fees again like my car money was.

What is the best way to pay this off? I make about 0/month.

Technorati Tags: cap one, capital one, capital one credit card, faith effort, good faith, minimum payment, money, special offers, voicemails

I just received my credit report and it only gives me the information for the original creditor not the company who purchased the debt. I contacted the original creditor and they told me that they couldn’t find my info. The debt is valid from about 2005 with capital one and I am trying to get in contact with whoever I need to pay to settle.

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In 2008, I lost my job and got behind on my Capital One credit card. My balance was roughly 1400 and Capital One told me if I agreed to pay I think 40% of my balance in two payments they would do a debt forgiveness for 60%. So I agreed and called on the day I was to pay on my debt and the rep told me that they no longer have my account and gave me a number to call for a collection agency. Well I called the collection agency and they said they wanted the full 1,400 and were willing to let me make 0 monthly payments. I make the last payment at the end of this month. I just got a 1099-C from Capital One saying they wrote off the 60% as a tax forgiveness to me and Im to add the 800 and some dollars to my wages for the year. Is this right? Do I have to do this considering they really didn’t give me a debt forgiveness, they sold the debt to a collect agency?

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If you have settled a credit card debt with Capital One, what percentage of the balance did they accept?

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I have a past repossession due to job loss for over 34k and they are charging me interest a day. I have 6 credit cards with chase, capital one, and a home depot card, these will not be included in the chapter 7 because I don’t own any on these cards. Thanks for you help.

Technorati Tags: capital one, chapter 7, chase capital, credit cards, home depot, job, repossession

I was issued a summons to appear in court for a credit card debt, how can I settle out of court? I live in Illinois and I had a credit like with Capital One.

Technorati Tags: capital one, credit card debt, summons