F&F Settlement - Capital One

DebtWarrior

Hi

Capital One CC defaulted Nov 2019. Actually forgot about it until a letter arrived at the weekend. 

£980 owed. They have written say they will clear it if I pay £490. 

Is it worth trying to negotiate a lower amount or is that a waste of time? Have other people been successful. If so what would be a good figure to offer? 

Also is there anyway of getting the credit file marked as fully settled rather than partial. 

All advice welcome please. 

Penguin_

Have you asked them for the CCA?

DebtWarrior

Penguin_ said:

Have you asked them for the CCA?

No I havent. I do owe it. 

DebtWarrior

Any advice guys?

SusieT

DebtWarrior said:

Any advice guys?

As above, you need to ask them for the CCA. Then see what (if anything) comes back.

JamieJ89

Also is there anyway of getting the credit file marked as fully settled rather than partial.

^^^ only way would be to pay it in full. Although if it has defaulted, the damage is done already so might as well settle for as less money as possible.

Suseka97

The advice on requesting the CCA is to see whether the account is enforceable or not, the latter gives a person more leverage with F&Fs.

You don't say how old this debt is, but if it is still with the original creditor, Capital One in this instance, then the likelihood that it will be UE is pretty slim.  I would expect they will hold the necessary documentation to prove that its enforceable, but only you can say one way or another.

Looks like they are offering you to settle at 50% which isn't bad and I would be tempted to just pay it, but nothing stops you making a counteroffer.  You should, however, ensure that you have something in writing that confirms if you pay it will close the account and no further action will be taken by them or any other acting on their behalf.  

Unfortunately you won't be able to change the 'partially satisfied' status because you will have only partially satisfied the debt.