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Capital One Balance Confusion

Capitol One is reporting two amounts on my credit report, and the small of the two on its Web site. Which amount do I owe?

My Capital One credit card has just been charged off with a balance of 15,000. A credit agency has contacted me and said they would reduce the amount to 12,000 if I could make payments. When I go to it shows a amount balance of 5000. And my credit report shows an amount of 5000 with 15000 charged off. My question is if I pay the $5000 on the is that a settlement or just a payment on the original debt. The Capital One Web site payment page states "To stop collections efforts, please pay the Account Balance"

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Bill's Answer
(6 Votes) | Find Learn Save
  • Call Capitol One to learn which balance is due.
  • Negotiate a settlement and get its terms in writing.
  • Dispute inaccurate information on your credit report.

I do not know the answer to your question because the facts you presented are, as you suggest, contradictory and confusing.

Call Capital One and offer to settle the debt in its entirety for $5,000. If the company accepts your spoken offer, ask they put it in writing. Gather $5,000, and send it to Capitol One with a copy of its settlement offer. Then count your lucky stars that you just completed the easiest settlement  negotiation with Capitol One in history.

If however, the $5,000 on the Web site and in your credit report is a phantom amount, then dispute the entry in your credit report because it has no basis in reality.

If you cannot reach an acceptable settlement amount with Capitol One, or if you do not have a lump-sum available to pay a settlement immediately, consider hiring a debt settlement company to do the heavy lifting for you. You can get a no-cost quote from a pre-screened debt service provider.

I hope this information helps you Find. Learn & Save.



(6 Votes)
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  • BA
    Oct, 2010
    Drew, you may want to send that via certified letter to Capital One. We are, a consumer finance resource and portal. We don't have the ability to validate your capital one debt, you should do that with them directly.
  • DW
    Oct, 2010
    Please accept this email as my written dispute of my alleged account. As you know, Section 809 of the fair debt collection practices act, enforced by the federal trade commission in Washington DC, I am not required to dispute this in writing. Please send me a copy of the contract, with my signature, which created this alleged debt as well as a complete and comprehensive itemized statement of charges within 30 days from date of this request as required by FDCPA. Thank You Drew W.