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creditcardss · Oct 8, 2010, 05:25 PM

I made my payments on time & most payments were over min rqrd, then my child support tripled so I made min payments. My limit was only 1000.00 on the card! I charged about 800.00 total. Next thing I know I am over limit because I made the minimum payments and started getting calls from them. I told them I would like to negotiate sttlmnt but THEY said I was not in bad standing. So I STOPPED paying them & when I was no longer in GOOD standing they still would not negotiate & then sued me! Help, I am still trying to settle with them. I have explained that they will not collect anything on garnishing my wages for at least 6 yrs because of the amt of chld supprt I pay. I don't know why they won't settle. How can I get them to settle. I have offered them 50%. I sent them a letter showing that I have already pd what I charged on the card and more when they were rcving payments. So all of the money I owe them now is int & fees. I gave them a win-win situation by offering them money now or no money for at least 6 yrs.

AK lawyer · Oct 8, 2010, 05:35 PM

Originally Posted by creditcardss

... I don't know why they won't settle. How can I get them to settle. ...

They won't settle until you offer them something they aren't already pretty-much assured of getting anyway. I'm sorry, but I can't think what that might be. If you could come up with a substantial lump sum they might consider it.

ballengerb1 · Oct 8, 2010, 05:39 PM

You say they sued you, sounds like you are going to court no matter what we tell you. In court they will likely get some kind of judgement. Maybe you should be offering a payment plan. I'd love to stopmaking my payments and offer Chase 50% but I know excatly what they would say.

creditcardss · Oct 8, 2010, 05:46 PM

I could not get anywhere with the coll agncy, and the lawyer that was in court (I guess a preliminary hearing) said he did not have the authority to offer a sttlmnt, then I sent CO a letter offering 50% & they sent letter telling me to call coll agy.

creditcardss · Oct 8, 2010, 05:48 PM

I can't do the payment plan, they want 250 a month, I pay almost 250.00 in cs payments a ck, nothing left after that...

ballengerb1 · Oct 8, 2010, 05:52 PM

Your post title said Capital One sued you and now you say a collection agency, which is it?

creditcardss · Oct 10, 2010, 04:38 PM

Capital One turned it over to a Coll Agncy but when I was served the papers said Capital One. The Attorney that was present represented Capital One. When I sent Capital One the settlement letter they told me to contact Global Credit Coll Agncy.

ScottGem · Oct 10, 2010, 06:36 PM

First please don't use the comments feature to post follow-up. Use the Answer options instead.

The question is who owns the debt currently. If Cap One still owns the debt then they control any settlement. If the collection agency owns it they have the right.

But you have messed this up from the beginning. First you continued to use the card when you knew you could go over the limit. Then you didn't pay it down and let the charges and fees build up. Finally you stopped paying a valid debt.

The most likely scenario here is they will get a judgment against you and they will wait until you have money they can attach.