Recommendation on Cap One auto loan deficiency

Feb 282011
 

I had an auto repossession from Capital One with a reported $12,735 deficiency balance.  I’d like to work something out with them, but after reading about the SOL and waking these guys up, I want to get some advice before I take any action.

 

The DOFD was 06/2008, and from what I’m reading that’s when the California 4 year SOL clock starts.  Is that accurate?  Also, I don’t exactly have the 13K laying around so I wouldn’t be able to PIF and would have to set up some sort of monthly payment arrangement.  Anyone have any experience with Capital One’s willingness to do this for a balance that high?

 

Would it be best to completely leave this alone and see I can hold out until the SOL?  It’s no fun having that potential lawsuit hanging over my head, and I’d like to hear any suggestions.

 

Thanks in advance!

imminent Danger? Should I talk to a CA

Dec 032010
 

I have been working VERY hard to rebuild my score towards the purchase of a home in the next 30 days with spme decent success.

 

I had a very old credit card. I always believed the balance was incorrect.   I had been trying to get in touch with them about paying off something to get it removed, with no response, so I disputed it.

 

A week later, I had a notice that the debt had been sold to bulk CA.  I sent a request for validation.

 

Fast forward. 

 

(1) The CA sent me validation that was simply original creditor name, amount due.  I have no idea how to actually get them to detail the balance.  Its not even what the original creditor was reporting.

(2) The credit card company never responded and the item was removed from my credit report, boosting the score

(3) the CA claimed to not report on the credit reports in a previous discussion.

 

Now I can not decide – do I contact the CA, attempt to work something reasonable with them and avoid THEM adding something to my credit report  OR do I wait and see if they add something?

 

Is there a next step that would keep the dispute process with the CA rolling?

 

any help greatly, greatly appreciated.

 

 

DV’ing a CA that’s also a Law Office?

Apr 092010
 

Our Target card was just turned over to the Law Offices of Blatt, Hasenmiller, Leibsker & Moore, LLC for collection. Would it be considered “unwise” to send a DV letter to them?? Unlike every other CA we’ve dealt with, they refuse to settle….period (so they say).

 

Here’s the comment that has my attention:

 

“If you dispute the validity of this debt, or any portion thereof, please notify us in writing, within 30 days of the receipt of this letter and we will mail verification of this debt, or a copy of the judgment, if applicable, to you.”

 

If it comes down to it, we’ll work something out for the full amount (some how…), but would prefer to settle do to very limited funds. So far all we’ve dealt with so far are regular CA’s (that have so far been really good to deal with) and we haven’t had any issues, until this one.  Any thoughts or suggestions?

 

Thanks!

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