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I need some help! I have a past due account with Capital one, and I can't pay it off all in full at once, but they won't accept the smaller payments i can make, because wheni make a 100$ payment every month, it just negates itself from all the fees! I can't do more than 100 a month, but when i talked to them, they wont take anything less than 395 dollars....I dont want to see this get any worse, but I cant seem to make it better....any suggestions?
I would try my hardest to pay off the debt. Talk to a professional adviser as well
Have you spoken with the hardship department there? I work with them and so far they have been pretty fair. Try it and see.
In the event that you cannot pay more then 100.00 a month and they wont accept less then 395 a month to keep the account active I would look into a balanc transfer to a card with more flexible payments and better rates if thats not an option and they wont budge then u should pay what you can to keeo them from sending it to collections
you got a very good question but i don't know anything about it
please tell me if you get reliable solution
With the economy the way it is of late, Credit card companies are concerned with not getting some of their money...Or, any money at all. I would keep working them. Keep calling to you get the right person. They are stubborn. If calling them doesnt work, then I would write them and briefly explain the situation and advise them what you can and can not do in regards to payment. If they refuse any sort of sensible (re)payment plan, then utilmatley they are cooking their own goose.
Like I said earlier, it may take writting them. If this happens, make sure you keep all records!!! You just never know when you might need them!!!
Peace,
Sun
Back in 2001 I had this very same problem with cap one. I was in this sinking boat and even the hardship program would not help me out. I beg, pleaded and cried but every month the balance and amount due wen t higher and higher. In the end I gave up. They marked up my credit for years and a the end of this year I will finally bid them fare the well and never do business with them again.
Since they have not sent the debt to the collection agency yet, what I suggest is that you should try and pay it off. For this you can opt for a debt consolidation loan which comes at much lower rates of interest. If you take a debt consolidation loan and repay your debt, I think that you can save yourself by preventing the debt from being listed in your credit report.
Yes, I too think that going for debt consolidation loan would be a better option. But if you do not get a debt consolidation loan try out any other ways like taking advance from your employer, but pay the debt off, as if you do not pay it off, the CA will send it to the credit bureaus and once it gets listed in your credit report, it will stay there for seven years and hamper your credit score.
That is probaly a really good idea. I know that they charge a really big interst fee but can it really be that much worse than all those over the limits and late fees. I know after my hubby died and they refused to work with me my Cap bill went from being $300 (first time cc holder) to now in excedss of $1800. Do what you can because it is a really stressful thing when this starts happening. Good Luck