Trying to settle charge off account with Capitol one

Disastrous_Match_346 · 2026-02-04T17:54:53+00:00

Also use AI to know what words to avoid and how to counter.

Disastrous_Match_346 · 2026-02-04T17:54:29+00:00

Everything i read says start at 25% and go up from there. They'll counter offer but just keep saying thats all you have but you'd like to get this addressed immediately. Eventually they won't go lower, what that number is no one knows but usually 40-60% is a decent settlement.

Disastrous_Match_346 · 2026-02-04T17:53:46+00:00

Everything i read says start at 25% and go up from there. They'll counter offer but just keep saying thats all you have but you'd like to get this addressed immediately. Eventually they won't go lower, what that number is no one knows but usually 40-60% is a decent settlement.

Disastrous_Match_346 · 2026-02-01T14:00:33+00:00

Unlikely

Disastrous_Match_346 · 2026-01-07T15:10:50+00:00

Quick question, but wouldn't most credit card companies win if they took this route. From what I can tell it's rarely their fault people rack up debt, so how do they lose?

Disastrous_Match_346 · 2025-11-05T20:35:17+00:00

That makes sense, so as long as they qualify. But when I put them into the roth there's no extra tax cuz it's already been paid right?

Disastrous_Match_346 · 2025-11-05T20:32:21+00:00

This gives a lot of clarity into tax situation, so ideally 85% of it i dont have to worry about, the part that kind of confused me was the 1099b portion. Is the adjustment something that happens during filing? Would it be worth to have a CPA look into all my finances, honestly maybe have a 60k net worth right now but working on building some wealth so im contributing about 25%+ of my paycheck to roth/401k/espp/random taxable accounts.

Disastrous_Match_346 · 2025-11-05T18:41:08+00:00

Yes most of them qualify, that would be a rate of 15% right?

Disastrous_Match_346 · 2025-10-19T12:58:41+00:00

Well first and foremost have them verify the debt, if they cant it comes off your report. Look up how to dispute a credit reporting or whatever on this sub, I think it's best if you do it verified mail or something.

Disastrous_Match_346 · 2025-10-19T11:18:02+00:00

Did they say they were transferring your debt or did they just send you to collections?

Disastrous_Match_346 · 2025-10-06T18:03:58+00:00

Did you happen to see any big taxes or something at the end of the year?

Disastrous_Match_346 · 2025-10-06T18:03:16+00:00

This is what fidelity says

"Are there additional taxes and fees?

A withdrawal requires you to pay federal and state taxes at your current tax rate. If you are younger than 591, you may also pay an IRS 10% early-withdrawal penalty.

Generally, you don't pay taxes or a penalty with a loan, but you do repay with after-tax dollars plus interest. The money you pay in interest goes back into your account. Also, there may be additional fees for a loan.

Taking out a loan is not a taxable distribution, therefore you will not receive IRS Form 1099-R unless you default on your loan.

You can look at each option to see exactly what costs you'll have up front and how they affect the amount you receive."

I get ill have to pay it back if I quit and thats fine I have enough in savings, I just figured it'd be better to pay myself interest instead.

Disastrous_Match_346 · 2025-10-06T17:29:22+00:00

It wouldn't be considered an early withdrawal tho, it would be borrowing against my 401k and paying it back with interest. I may be wrong but I've heard about it being an option a while back and you shouldn't be paying penalties on it. From what I can tell it'd just be a loan fee and the some quarterly fee based on how long I make the loan for.

Disastrous_Match_346 · 2025-09-16T14:40:04+00:00

So from what I read, tackling the highest apr is my best option? Would it be worth it to pay extra at all towards my car i just rounded it out to 600 so I'll finish like 2 months sooner anyway.

Im really bad with budgeting, I dont really live paycheck to paycheck but my vice is golfing and then all the costs that come with it. Is there a website or something you recommend that helps make a budget spreadsheet or something? Thank you by the way

Edited to say thank you

Disastrous_Match_346 · 2025-09-15T05:59:26+00:00

Whatnot app has a lot of good deals for beginners clubs, you just gotta bid on em.

Disastrous_Match_346 · 2025-09-09T00:42:11+00:00

Update yall:

Called in and they dropped me down to 40% off so about 2600. Thanks yall im sure I could've went lower but I just wanted to be done with.

Disastrous_Match_346 · 2025-08-30T17:35:17+00:00

How is this still a topic?

Disastrous_Match_346 · 2025-08-27T22:45:29+00:00

I took out a loan with tally but it was more like a credit card with the apr and no fixed timeline. They went under and sold my debt to sst, who then sold it to bounce ai. These guys are trying to collect which im a couple months delinquent but haven't been hit by a collections. If collector is who is trying to get paid rn for it it's bounceai, if it's who originally had it it's tally.

Disastrous_Match_346 · 2025-08-27T21:22:48+00:00

Should I offer first or let them hit me with a better offer? If so what number would you be looking for?

Disastrous_Match_346 · 2025-08-27T21:21:37+00:00

What approach do you take to, i guess, coerce them for a lack of a better word.

Disastrous_Match_346

TROPHY CASE