I have a capitol one judgement against me from 2007. At that time it was 1685 now its 3780 with interest and court costs. I want to settle with a one time payment but they want alot of personnal info to see if I qualify for a discount.
Can they charge interest on a judgement? court costs? What about when we settle is there still an outstanding balance that they can come at me with in the future? Discount HA!!!!
The current balance sounds like it could be right on target. You’ve got interest that’s added as the judgment sits and legal fees that were tacked on as well.
It’s possible your offer is too low for them to easily accept your offer. You should expect them to settle in the 70% range with no additional information or 50% with the hardship and additional information.
If you give them the personal information they are asking for without a settlement acceptance I would not be surprised if they started chasing you for the full balance.
Make sure you get the settlement offer in writing before you pay. And make sure that agreement says the settlement payment is for the full debt and any balance remaining will not be collected.
Please post your responses and follow-up messages to me on this in the comments section below.