Can I reopen a charged off credit card account?

If your credit account has been closed due to nonpayment, it is possible that the issuer may charge off your debt and assume you will not pay it back. Once your account has been charged off by the creditor, it cannot be reopened.

How to reach a settlement with Capital One?

Follow up with all requests by Capital One for additional information and if you reach a settlement agreement, request the terms and conditions be sent to you in writing before payment is made. Understand that you may need to repeat the process of calling Capital One and speaking to several agents until you reach a settlement agreement.

How does a settlement work with a credit card company?

The remaining amount can be repaid in one single payment or as a series of payments, as determined through the specific agreement. You—or an approved 3rd party on your behalf—work with your credit card company to agree on the terms of your settlement, primarily the settlement amount you will pay and when payment is due.

Do you have to accept first settlement offer?

You do not have to accept the first settlement offer presented to you, but keep in mind that as time passes, your account becomes increasingly delinquent and interest charges will continue to accrue and accumulate. Bank Rate: What are Effects of Card Debt Settlement?

What happens to a Capital One account past due?

For accounts past due for more than 180 days, your account has been written off of the books at Capital One as a delinquent debt and will be processed first through internal collections and then potentially through an external collections agency.

When was the last time Capital One made a payment?

Go back through statements if your account is past due and note the last time you made a payment to Capital One. Note whether your last payment was more or less than 180 days ago.