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  1. Hdporter: Thank you for the clarity here. Yes, everything you explained is the why I thought it would be but I wanted some verification from experts like you, centex, et al. I'll be making a payment soon. I'll keep you guys posted on the updated credit reporting, if any.
  2. Thank you very much centex. Thank you for clarifying this.
  3. They are not charging interest on this. It is 0% interest. I'm just buying some time until I can get back on my feet and then either pay them or settle with them.
  4. Thank you for your response here. I'm not worried about statute of limitations on filing suit as I have intentions to pay and settle this account in the future. Capital One offered the 7-year installment plan INTEREST FREE at $15 per month. My question pertains to the charged-off account of $33,000. Can Capital One re-age the charged-off account from the date of the first payment that is due of $15? Or, will the delinquency status of the account clear up 7 years after October 2018, since that was the first date of delinquency on this account? Additionally, Capital One advised me that there is no particular due on this installment plan. They simply told me that you pay when you can but by making an informal commitment of $15 per month for 84 months, we'll leave you alone and allow you to make payments as you wish, provided that you make the payments as scheduled, even though there is no actual due date per se.
  5. Thank you centex. When you are referring to re-aging, what are you referring to? 1) The statute of limitations for filing suit, or 2) re-again on the credit reports. Thank you again.
  6. My Capital One credit card was charged off in April 2019. The last payment that I made on this account was in October 2018. The balance on the charge-off is just a little over $33,000. Capital One offered me an installment plan to pay towards this account. I set up an 84 month installment agreement for $15 per month, total payment $1,260. The first payment is set to begin on October20 and then each 20th of the month thereafter. Capital One told me that after the installment plan is finished, they will then agree to another payment plan or settlement, or final payment, etc. Capital One told me that with this particular installment arrangement, they will not pursue future collection activity so long as I'm making the payments according to the agreed terms. 1) What will happen to my credit report pertaining this account? Will the negative marks come off 7 years from the initially late payment date of October 2018? 2) I understand that by making payments, the statute of limitations for a lawsuit restarts from the date of last payment. I'm not trying to run away from this obligation. I'm simply trying to buy some time and get back on my feet and then try to settle if possible. I'm more focused on the future credit reporting. 3) I don't have a substantial amount of money now to be in a settlement negotiation. As a result, I thought that by getting in this installment agreement, I could comply by making payments until I can get back on my feet at a later date and settle this up. Am I doing the right thing by getting into an installment agreement with Capital One regarding this charged-off account? Thank you.
  7. Yes, I get it. But, the problem is that Capital One states that you MUST have a MOBILE phone number IN YOUR NAME. I can't believe this to be true because many people are included in "family plans."
  8. In order to initiate a balance transfer with Capital One, they require that you add a mobile phone number for verification. My mobile phone number is already on file with them but they still cannot perform the balance transfer because they stated that the mobile phone number is in a "family plan" or in a "business name" and it needs to be in your actual name for the balance transfer option lift to be taken off. Has anyone experienced this or can anyone help in resolving this issue? Capital One has directed me to the technical support side and back and forth and so on and they gave me mixed responses. Thank you. Jimmy.
  9. The minimum payment percentage is 2%. Lump payment is the same for both. Jimmy.
  10. Which offer is better with "minimum payments with lump sum payment at the end?" Jimmy.
  11. Hello everyone, I've searched and played with various credit card repayment tools and I'm just drawing a blank at this point. Could some of you experts kindly chime in and help me decide which offer I should take? 1) 0% for 12 months and a 3% balance transfer fee, or 2) 4.99% for 18 months and a 0% balance transfer fee I'm not worried about carrying a balance for 12 or 18 months. Which deal is better? Thank you. Jimmy.
  12. Both of you are correct and make sense. I will shred the offer. Thank you again. Jimmy.
  13. I recently received a PRESCREENED & OPT-OUT NOTICE Bank of America for a credit card and was approved. 3 weeks Later, I received the same notice with a different Personal Secure Code. Should I apply for another one? Or, will it get declined because I already have the same exact credit card product? Thank you. Jimmy.
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