I Settled My Capital One Debts But It Doesn’t Show That On My Credit Report
The following guest post is from Steve Rhode who is a consumer debt expert and helps people for free to learn how to get out of debt and avoid scams.
I am in CA and I received a call from a collection agency on 9/6/11 about a credit card with Sam's Club. They took me completely by surprise and against my better judgment I answered all kinds of questions i.e. Martial status, employment etc. When they told me how much I owed, I told them I didn’t agree with the balance and to send me something in writing. He said he would and asked for my email. Haven’t received anything.
I asked what would be their lowest settlement (somehow thinking it would be affordable) and can put this all behind me. He said $900! I told him that I couldn’t afford it and he said can make payment in 3 installs. I told him can’t afford it especially when I don’t agree with balance. When my senses started to come back to me, I asked for his Name and company he was calling from and he said it so fast I could only get his name and Capital something???CDC?? Then I asked for his phone number and he hung up.
I pulled my credit report that day and found that my Sam's account has been "purchased by another lender" It shows charged off in 2009 $1431. Under the Sams entry is an entry from Paragon Way Inc. with original creditor as Sams and remarked as in collections with an original balance of $1432 and last updated 4/2011. Also there is an inquiry on my credit report from JC Christensen on 4/15/11. But they are not the ones that called me.
I also noticed that there is still a remaining balance due on the two 09 charged off accounts I settled with Capital One in August 2011. I settled for less than what they said I owed. I thought that by settling with them they would show as settled/paid. One of the accounts I had to settle thru Legal Recovery Law Off. which Cap One hired and assigned my acct to. (I did not know I was being sued) I was served a summons on a Sunday and Capital One cashed my check the prior Friday. Thank God they filed a dismissal with the courts.
How can I go about making sure I pay the right company? I am ready to settle the account for a fair amount in exchange for paid in full and if possible and legal a removal from my credit report. After reading all the horror stories online about settling debt with a third party collector/purchaser of debt I want to make sure I pay the right people. The last thing I want is to get sued again or pay just to find out they resold the debt and I then have to pay another company.
How can I go about having Capital one report my accounts as paid/settled?
Do you know of any low cost consumer agencies in CA that can help me with this?
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