Posted on June 5, 2009 at 11:40 am If you have please let me know, I owe Capital One over $18 grand and with the interest it just keeps growing!

Posted on June 5, 2009 at 12:14 pm Sorry Susan I have not had to do this fortunately. However, I read an article online that mentioned Capital One as one creditor who is particularly difficult to negotiate with. Does anyone know if this is actually the case?  

Posted on June 5, 2009 at 2:04 pm Hi Susan, To answer your question, no, I have never settled a Capital One credit card. To answer Mr. Green's question, yes, Capital One is notorious for being difficult to negotiate with. Back to Susan. If your debt is still with the original creditor (Caoital One), it will be very hard to settle with them directly. Why? Because if they still have the account it is likely you are current on your monthly payments. Creditors will only settle a credit card debt if the account is past due. And, even if you are behind four or five payments and they still have the account, the percentages they offer you aren't going to be too low. Capital One accounts, if in collections, can be settled for lower percentages and overall are much easier to negotiate on. If your account is in collections, then settlement should be a fairly easy option for you to access. So, you should be able to settle a Capital One account, even if they are difficult to work with historically. It just depends on whether or not you are current, if Capital One still is handling the debt for collection, and exactly what percentage you may be able to get!! If you are behind and need assistance settling your Capital One account, feel free to fill out a form on DestroyDebt.Com. You can at the very least get a free consultation and potentially get matched up with a qualified company if you are interested.

Posted on July 23, 2009 at 12:05 pm I settled a Capital One credit card debt last month- but it was with a collections agency- I believe MRS? Anyway, I have two other Capital One credit card debts, and I think one is with a debt buyer for collection.So my question is has anyone ever settled a Capital One credit card debt with a debt buyer?

Posted on July 27, 2009 at 2:57 pm Not personally, but I would assume that anyone who has ever settled a Capital One credit card debt with a junk debt buyer probably got a better settlement than if they had worked with Capital One directly. What does everyone think? And, has anyone ever settled a Capital One credit card debt with a law firm?

Posted on July 28, 2009 at 9:18 am I would say that if you settle a Capital One credit card debt with a junk buyer that is correct, the percentages are most likely going to be a lot lower. Why? Simply because those debt buyers purchase large portfolios of debts for very cheap- some times as low as 5-10 cents on the dollar. So even if they settle for a low percentage with the debtor, they can still make a large profit.

Posted on July 28, 2009 at 12:09 pm Maya, in regards to your question- has anyone ever settled a Capital One credit card debt with a law firm?- my experience in the industry has taught me that Capital One credit card debts that are placed with law firms tend to settle for fairly high percentages (70-80%). As a result, it is better to try and work with them directly, or settle the debt when it is with a collection agency or debt buyer.