"How do I settle with my credit card debts when they sold the account to a collection agency?

Also, Capitol One is suing me for the money. Though, I noticed on my credit report they had written the account off as uncollectable. How can they try to collect if they don%26#039;t own the account anymore?

I have the money now to settle up all my bills, I just don%26#039;t know who Ishould be talking/writing to about it.

%26quot;How do I settle with my credit card debts when they sold the account to a collection agency?

they need to %26quot;write it off%26quot; so their financials don%26#039;t look too bad.

Call Capitol One and ask to speak with a credit manager - make sure you get a credit manager. Explain the situation and barter - you%26#039;re payment in exchange for their clearing up your credit report. The incentive to them is they now have an income source which is a positive for them, compared with collecting on a bad debt. You%26#039;re contacting them directly doesn%26#039;t cause a conflict for them in taking the %26quot;collection%26quot; back from the agency. If you pay the agency directly - Capitol One won%26#039;t do anything to help your credit report.

my friend who is a loan broker gives people this advice all the time to help get mortgage loan approvals.

%26quot;How do I settle with my credit card debts when they sold the account to a collection agency?

Pull your credit report and find out what the collection agencies you need to deal with then call them and tell them you have the money. Many times if you ask them, they will take it off your credit report or you can make a deal with the company you didn%26#039;t pay to take it off your credit report. Get it in writing and make sure you talk fast and with diplomacy!!

%26quot;How do I settle with my credit card debts when they sold the account to a collection agency?

If they gave it to a collection agency you should contract the agency and pay it there and report it to all the mayor credit reporting companies keep your receipt. or if your are ready to pay now call capitol one sometime they will settle for less than what you own now. If they do pay them and report it to the the credit bureaus.

%26quot;How do I settle with my credit card debts when they sold the account to a collection agency?

write off doesnt mean they dont want their money it means they dont think you%26#039;ll pay it.

they either gave the acct to a collection agency or sold it. if they sold it then the new co who owns your debt bought it for pennies on the dollar and they will settle but they%26#039;ll harrass you for info first off. if you%26#039;re intending to pay then just give them any info...they are just updating their files to make it easier to find you if you dont pay in the future. dont worry about it but be nice and give them whatever instead of your info. ask the collector to talk to their boss....they%26#039;ll say they are doing that anyhow even tho they arent. the longer they keep you on hold the funner it is for them. they get kicks out of it....its kind of sick but true. so you need to call cap 1 to see if they still own your debt. they may allow you to pay them or send you to the coll agency.