Is this something they do when they know an account is SOL?
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Jade
(216.130.15.53) on September 26, 2002 at 18:47:17:
I already tore it up and threw it out, but today I got an offer to accept a new CC with an old charged off account balance transferred to it. It was from Capital One. They said I would start off with a limit of $1 and then for every $100 paid on the old balance, I would get a $50 credit limit increase. I've already heard that it is not a good idea to accept these offers, which is why I tore it up and threw it out, but I was curious if they only make these kinds of offers when they know an account is past SOL and there isn't really anything they can really do to collect it. Kind of like a last ditch effort to collect.
Follow Ups:
Post a Followup
|
