Reached Settlement with Capital One Today

Posted on February 21, 2008
Filed Under debt |

I negotiated a settlement with Capital One today. Somehow I don’t feel like celebrating. I do feel tremendous relief as the stress of having them hanging over my head was incredible. I also feel like I could kick my butt for having gotten into this situation in the first place.

The settlement was for slightly more than my offer in my settlement offer letter but still ended up about 50% of the total amount. I am not thrilled with it but I do feel like it is probably fair to both of us and Capital One is notoriously difficult to negotiate with according to my research. The settlement paid off both the original amount borrowed plus interest. It did not pay off the $80 a month in Late fees and Overlimit fees that were incurred when I could not make payments.

I suppose it is MUCH better than declaring bankruptcy emotionally and better than the stress of having them hanging over my head. I don’t know that it is a lot better for my credit rating but that is something I will have to live with for the time being.

The book that has helped me in negotiating my debt settlements is called Good Credit is Sexy and you can Order the Book! for only $19.95.
I think I am going to go have a chocolate cupcake. I knew that I baked them for some reason and this is as good as any.

If you enjoyed this article, you may want to subscribe to my feed by RSS or get updates in email.

Comments

One Response to “Reached Settlement with Capital One Today”

Break Down in Debt Negotiation | Oh My Aching Debts on March 5th, 2008 8:00 am

[...] weeks ago I wrote that I had reached a settlement agreement with Capital One. This settlement was based on two things, I should have had my tax refund back by February 28th [...]

Leave a Reply