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Capital One... what should I do?
thatone1967
Posts: 6 Forumite
in Credit cards
OK... the first half of the decade, I had a number of financial issues, which are pretty much behind me, but left me with a pretty chequeured financial history. I decided about 5 years ago to try to repair my credit and got myself a Capital One card, initially I had a £200 limit, but that was upped to £800 just over a year ago. All is going well.
Fast forward to last September and I lost my job, and struggled financially..I am now working, but not earning as much as I did before, and subsequently fell behind with bills.
Had regular calls from Capital One and they finally lost patience with me back in May and served me a default notice.
Now, I have had various conversations with Capital One, but to be honest, the language barrier is a slight issue, I have been told (I beleive) that my account has been refered to (Cougar Collections) a debt collection company, which is not unexpected, BUT, I was told that the only way that this could be reversed, would be if I got either the CAB, or a debt management company involved.
I obviously do not want to go down the latter route, if I get agreement with Capital One, I can clear the arrears in two months, so why would I?
CAB had no knowledge / interest in this process...any thoughts anyone?
Fast forward to last September and I lost my job, and struggled financially..I am now working, but not earning as much as I did before, and subsequently fell behind with bills.
Had regular calls from Capital One and they finally lost patience with me back in May and served me a default notice.
Now, I have had various conversations with Capital One, but to be honest, the language barrier is a slight issue, I have been told (I beleive) that my account has been refered to (Cougar Collections) a debt collection company, which is not unexpected, BUT, I was told that the only way that this could be reversed, would be if I got either the CAB, or a debt management company involved.
I obviously do not want to go down the latter route, if I get agreement with Capital One, I can clear the arrears in two months, so why would I?
CAB had no knowledge / interest in this process...any thoughts anyone?
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