How to Settle Debt with Capital One (2024)

Table of Contents
Settle debt with Capital One. How can I pay down my Capital One debt quickly? Can I negotiate a payment plan with Capital One? Settle your Capital One debt before going to court 1. Respond to the lawsuit 2. Send a settlement offer 3. Get the settlement agreement in writing SoloSettle can help you settle your Capital One debt Settle with SoloSettle Here's how to get a Capital One lawsuit dismissed What is SoloSuit? How to Answer a Summons for debt collection in all 50 states Guides on how to resolve debt with every debt collector Resolve your debt with your creditor We have answers Join our community of over 40,000 people. Settle your medical debt Guides on arbitration Stop calls from debt collectors Federal debt collection laws can protect you Get debt relief in your state Debt collection laws in all 50 states Statute of limitations on debt state guides Check the status of your court case How to stop wage garnishment in your state Other wage garnishment resources How to settle a debt in your state How to settle with every debt collector Other debt settlement resources Personal loan and debt relief reviews How to repair and improve your credit score How to resolve student loan debt Civil law legal definitions Get answers to these FAQs on debt collection How-to debt guides Learn more with these additional debt resources Not sued yet? Use our Debt Validation Letter. It only takes 15 minutes. And 50% of our customers' cases have been dismissed in the past. FAQs

Sarah Edwards | March 27, 2024

How to Settle Debt with Capital One (1)

Legal Expert
Sarah Edwards, BS

Sarah Edwards is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

How to Settle Debt with Capital One (2)

Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

How to Settle Debt with Capital One (3)

Summary: If you’ve been sued by Capital One, you can settle the debt at any stage of the debt lawsuit process. To settle a debt with Capital One, you should respond to your pending lawsuit with an Answer, determine how much you can pay off in a lump-sum, send a settlement offer, and get the settlement agreement in writing. SoloSettle can help you settle your debt with Capital One for less.

Capital One is one of the largest consumer and business credit lenders in the U.S. The company is known for introducing the mass marketing of credit cards to the public in the mid-1990s. Since then, the business has grown to include traditional banking services, auto loans, and retail credit cards.

Millions of people use financial services provided by Capital One, including credit cards and loans. Capital One is known for offering a wide range of loan products, even to individuals with fair or poor credit scores.

If you owe a debt to Capital One, you’re not alone. Many people have difficulty keeping up with their credit card payments. There are a few ways you can reclaim your financial health and overcome your debt with Capital One. In this article we’ll explore these options and more.

Let’s get right to it.

Settle debt with Capital One.

You can negotiate debt settlement at any stage of the collections process. SoloSettle makes it easy.

Settle with SoloSettle


How can I pay down my Capital One debt quickly?

Capital One, like most creditors, charges interest rates on its credit cards and loan products. The higher the interest rate on your loan, the more difficult it will be to pay off your debt. Most of the money you pay monthly will go toward interest and fees.

However, if you can find a way to increase the amount of money you pay to Capital One each month, you’ll make more of a dent in your obligation while also improving your credit score.

You can increase the money you pay to Capital One in two ways. You can cut down on your other expenses or increase your income.

Reducing expenses is best for people who can’t take on an extra job. You’ll want to identify some cost savings measures, like cutting down on dining out or entertainment for a while.

If you can’t find a way to reduce your expenses, you may need to get an extra job. You can use all of the earnings from your additional job to pay off Capital One. The more you earn, the faster you will repay your debt.

Can I negotiate a payment plan with Capital One?

If you’ve fallen behind on your payments to Capital One for a few months, the company may be willing to negotiate a payment plan for you. You can try to reach an agreement allowing you to pay a set amount of money to the company over a specific period.

Usually, Capital One will stop future interest charges on the debt, but they will close your account with them.

See Also
Which Debts Should I Pay Off First to Improve My Credit?What is a payoff amount? Is my payoff amount the same as my current balance? | Consumer Financial Protection BureauPaying Off Debt With Highest APR vs. Highest Balance - Experiancalculate a mortgage payoff

A payment plan can last anywhere from a few months to a few years, depending on the amount you owe the company and your ability to make repayments. Contacting Capital One to set up a repayment plan can keep you out of legal trouble from a debt lawsuit, but it may harm your credit score.

Settle your Capital One debt before going to court

If you’ve failed to make arrangements with Capital One to pay off your debt, they could pursue a lawsuit against you. If the case goes to court, a judge might award Capital One a default judgment against you.

A default judgment gives Capital One the right to pursue further collections activity, like garnishing your wages or freezing your bank account.

You’ll want to avoid a default judgment at all costs. You can do so by settling with Capital One before your court date.

Follow these three steps to settle your debt with Capital One:

  1. Respond to the lawsuit.
  2. Send a settlement offer.
  3. Get the settlement agreement in writing.

Below, we’ll break down each step in detail for you. You can also watch the following video to learn more:

1. Respond to the lawsuit

You can avoid losing your debt lawsuit against Capital One when you file an Answer in response to the Complaint they filed against you. Your Answer addresses the grievances that Capital One lists in the Complaint. You may have specific reasons that prevent Capital One from obtaining a judgment. Make sure that you list all of them.

While the idea is to settle the debt with Capital One so you won’t need to go to court, an Answer protects you from the judge automatically granting Capital One a default judgment.

Responding to your debt lawsuit essentially buys you time to work out a debt settlement agreement.

Respond to a Capital One debt lawsuit.

2. Send a settlement offer

To begin your settlement process, determine how much you can afford to pay Capital One. Remember that Capital One may reject your offer if it’s too low. The bank might decide that a judgment will allow it to collect more money.

Your offer should be realistic and fair. It should convince Capital One that you’re serious about settling. For instance, if your outstanding obligation is $2,000, you might offer Capital One a lump-sum settlement of $1,200, or 60% of the total debt.

Send an initial offer to start the debt settlement negotiation process. In your offer, you might say something like:

“I see you’re suing me for [$___] for [case number]. I don’t have that kind of money and I don’t agree with the amount. But I do have [$___] that I can pay within 30 days to settle the debt in full. Let me know if you accept.”

Capital One will consider your settlement offer to determine whether it’s satisfactory to the company. If Capital One believes that you should pay more, the company’s representative will likely counteroffer with their own proposal.

You may go through several rounds of negotiation with Capital One before you reach a settlement agreement.

SoloSettle takes care of the settlement negotiation process for you.

3. Get the settlement agreement in writing

Make sure to get your deal in writing so that you have documentation to rely on if Capital One tries to resume its collections activity or changes its mind.

Here’s a debt settlement agreement example, with a preview attached below, so you know what to look for in yours:

How to Settle Debt with Capital One (4)

Sometimes, people find negotiating debt settlement overwhelming, especially if they’re facing a lawsuit. When that happens, reach out to the professionals. That way, you won’t have to worry about saying the wrong thing or adversely affecting your case.

SoloSettle can help you manage your debt settlement agreement.

SoloSettle can help you settle your Capital One debt

SoloSettle, powered by Solosuit, is a tech-based approach to debt settlement. Our software sends and receives debt settlement offers on your behalf and helps you negotiate the best deal for your circ*mstance. Once an agreement is reached, SoloSettle helps you manage the debt settlement agreement documentation and forwards your payment to Capital One for you, helping you protect your personal financial information.

Now, let’s look at an example of how to settle a debt with Capital One.

Example: Freddy is being sued by Capital One for credit card debt. He uses SoloSuit to respond to the lawsuit, giving himself time to work out a debt settlement. After doing some investigating into his debt, analyzing his finances, and researching previous debt settlements involving Capital One, Freddy determines he can afford to settle the debt at 75% of the original amount. He uses SoloSettle to send and receive settlement offers to Capital One. In his initial offer, Freddy states he can pay off 40% of the debt. This gave him room to negotiate, and after a few rounds of counteroffers, Capital One accepts a settlement at 65% of the debt.



Here's how to get a Capital One lawsuit dismissed

To get a Capital One lawsuit dismissed, theses steps might help:

  • File a written Answer: This will help you avoid a default judgment and buy you time to work out a defense. Your Answer should be a straightforward response to the lawsuit's allegations. Solosuit can help you draft and file an effective Answer.
  • Understand Capital One: Defenses vary depending on whether you're dealing with the original creditor (like Capital One) or a junk debt buyer. Cases against original creditors are harder to defend unless there's an issue like identity theft. However, junk debt buyers often lack sufficient documentation and witness testimony, which can be a significant defense.
  • Assert your affirmative defenses: These include arguing the statute of limitations has expired or invoking a private arbitration clause. Affirmative defenses must be accurate and relevant to your case. Lack of proper service can be used as a defense, but if you're already aware of the lawsuit, the issue of service might be considered resolved.
  • Don't overshare in your Answer: Respond accurately to the allegations without assuming or adding unnecessary details. Avoid including excessive information, which can be detrimental to your case.
  • Consider settling: If defending the case is not feasible, negotiating a settlement for less than the claimed amount can be a practical solution.
  • Prepare for the long haul: If you choose to go to trial, be prepared for a lengthy process, often taking six to twelve months or more.

We asked an attorney for tips on the best defenses in a debt lawsuit and how to negotiate settlement. Watch the following video to learn more:

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

How to Settle Debt with Capital One (5)

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to Settle Debt with Capital One (6)

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Guides on how to resolve debt with every debt collector

Are you being sued by a debt collector? We’re making guides on how to resolve debt with each one.

Resolve your debt with your creditor

Some creditors, banks, and lenders have an internal collections department. If they come after you for a debt, Solosuit can still help you respond and resolve the debt. Here’s a list of guides on how to resolve debt with different creditors.

We have answers

Join our community of over 40,000 people.


You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.


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Settle your medical debt

Having a health challenge is stressful, but dealing medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Guides on arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Stop calls from debt collectors

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Federal debt collection laws can protect you

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Debt collection laws in all 50 states

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt state guides

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote a guide on each state’s statutes. Check it out below.

Statute of Limitations on Debt Collection by State (Best Guide)

Check the status of your court case

Don’t have time to go to your local courthouse to check the status of your case? We’ve created a guide on how to check the status of your case in every state, complete with online search tools and court directories.

How to stop wage garnishment in your state

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in all 50 states.

Other wage garnishment resources

How to settle a debt in your state

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created a guide on how to settle your debt in all 50 states. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

How to settle with every debt collector

Not sure how to negotiate a debt settlement with a debt collector? We are creating guides to help you know how to start the settlement conversation and increase your chances of coming to an agreement with every debt collector.

Other debt settlement resources

Personal loan and debt relief reviews

We give a factual review of the following debt consolidation, debt settlement, and loan organizations and companies to help you make an informed decision before you take on a debt.

How to repair and improve your credit score

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt.

How to resolve student loan debt

Struggling with student debt? SoloSuit’s got you covered. Below are resources on handling student loan debt.

Civil law legal definitions

You can represent yourself in court. Save yourself the time and cost of finding an attorney, and use the following resources to understand legal definitions better and how they may apply to your case.

Get answers to these FAQs on debt collection

How-to debt guides

Learn more with these additional debt resources

Not sued yet?

Use our Debt Validation Letter.


Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.


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It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.


"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather

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How to Settle Debt with Capital One (2024)

FAQs

How to Settle Debt with Capital One? ›

To settle a debt with Capital One, you should respond to your pending lawsuit with an Answer, determine how much you can pay off in a lump-sum, send a settlement offer, and get the settlement agreement in writing.

View More ›
How to beat Capital One lawsuit? ›

Respond to the Lawsuit: It's crucial to respond to the lawsuit within the specified timeframe. Failing to respond can result in a default judgment against you. You will need to file the answer with the court and send a copy to the opposing attorney.

Read On ›
What do you say when trying to settle debt? ›

“As for the negotiations, be persistent and persuasive,” Schwab says. “Write down your arguments beforehand and make them sympathetic to your case.” Share any truthful reasons you may be having a hard time and show that you want to pay as much debt as you can.

Learn More Now ›
How do I ask my debt collector to settle for less? ›

6 Steps for Negotiating With Debt Collection Agencies
  1. Learn About the Debt. By law, collection agencies must provide evidence that the debt is your. ...
  2. Understand What You Can Afford To Offer. ...
  3. Speak to the Debt Collector. ...
  4. Make Sure All Agreements Are in Writing. ...
  5. Make Your Payments. ...
  6. Negotiate Improvement to Your Credit Reports.
Aug 10, 2023

Read On ›
Will Capital One make payment arrangements? ›

Capital One offers payment plans to eligible customers. Contact us to see what options may be available to you.

Show Me More ›
Will Capital One negotiate a settlement? ›

If you've fallen behind on your payments to Capital One for a few months, the company may be willing to negotiate a payment plan for you. You can try to reach an agreement allowing you to pay a set amount of money to the company over a specific period.

Discover More Details ›
How do I win a dispute with Capital One? ›

If you cannot reach a resolution with the merchant, your best chance of resolving the dispute through Capital One is to file a claim within 60 days of the date of your billing statement. Let us know as soon as you can so we can dispute the charge on your behalf.

Tell Me More ›
What not to say to a debt collector? ›

Don't provide personal or sensitive financial information

Never give out or confirm personal or sensitive financial information – such as your bank account, credit card, or full Social Security number – unless you know the company or person you are talking with is a real debt collector.

Discover More Details ›
What is the 11 word phrase to stop debt collectors? ›

If you are struggling with debt and debt collectors, Farmer & Morris Law, PLLC can help. As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good.

Keep Reading ›
Will a debt collector settle for 30%? ›

"Every creditor is different. Some creditors will accept pennies on the dollar, others will not settle for less than 80% in a lump sum payment," says Jessika Arce Graham, partner at Weiss Serota Helfman Cole + Bierman.

Discover More ›

What happens if you can't pay Capital One? ›

If your payment is late, you could be charged a late payment fee. Depending on how late a payment is, it could also be reported to the credit bureaus, Equifax®, Experian® and TransUnion®. And that could affect your credit scores. If you plan to mail your payment, try to do so well before your due date.

Get More Info ›
Who does Capital One use for debt collection? ›

Usually they first try to collect the debt via their in-house collection department. Then they send the debt to an outside collection agency such as National Recovery Systems or Transworld Systems. If both are unsuccessful then they send the debt to debt collection law firms in New York.

See More ›
Does the government help with credit card debt? ›

Unfortunately, there is no such thing as a government-sponsored program for credit card debt relief.

Tell Me More ›
What happens if a credit card company sues you and you can't pay? ›

You may lose the ability to dispute the debt, if you believe you don't owe it or that the amount is wrong, and depending on your situation and your state's laws, the creditor may be able to: Garnish your wages. Place a lien against your property. Move to freeze funds in your bank account.

Learn More Now ›
How to defend against a credit card lawsuit? ›

Common Defenses to Credit Card Debt Lawsuits
  1. Improper Service of the Summons and Complaint. ...
  2. Statute of Limitations. ...
  3. Fair Debt Collection Practices Act (FDCPA) ...
  4. Lack of Standing. ...
  5. Payment of the Credit Card Account, in Part or in Full. ...
  6. Fraudulent Credit Card Charges. ...
  7. Discharge in Bankruptcy. ...
  8. Mistaken Identity.

Read The Full Story ›
Can I claim against Capital One? ›

Raising a dispute

If you think there's something wrong with a transaction you'll need to complete a disputes form so that we can look into it for you.

Show Me More ›
How to stop paying credit cards legally? ›

Legal Ways to Cease Credit Card Payments
  1. Debt Settlement. Debt settlement is a process that involves negotiating with creditors to pay less than the full amount you owe. ...
  2. Debt Management Plan (DMP) ...
  3. Bankruptcy.

Explore More ›
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