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Capital One summons HELP

pnrbma
Regular Contributor

Re: Capital One summons HELP

I bring home 2,023.94 each month but gross is $3,215.46. I recieved a letter at the end of July from Capital One stating that my other credit card balance with them, which has "balance of $576.40 was acquired by Portfolio Recovery Associates, LLC on July 19. Portfolio Recovery Associates, LLC now owns your account and may contact you either directly or through an affiliate or third party."

I am also behind on my student loan.

I moved out on my own in 2016 with my daughter to a different town after commuting for 8 years and had to buy everything from scratch - from furniture to utensil to towels - EVERYTHING. I still only have basics. Because I had no help moving, I did it myself and ruptured discs in my back for the second time, so I had my second back surgery in 2016 - and of course racked up on medical bills. Then, I don't know what I did "wrong", but ruptured it again and had my third back surgery in Sept. 2017, and of course had even more medical bills. I am a single mom and have never received child support so I have to pay rent, utilities, medical, etc first. 

I believe my last payment to the Capital One account that is apparently now a lawsuit was made in August 2016, and my second back surgery was August 23, 2016.

So do you think tomorrow I need to write & mail the letter to the judge, and also call to see about settling? Who do I call for that? the number I found on the records, which I assume would be the lawyer, or Capital One??

Thank you so much for the advice!!


@Shooting-For-800 wrote:

I would investigate settling. 

They may take less than balance.

I have settled accounts for as low as 30% of the original balance.

Cap One may not settle for less if they think they can garnish your paycheck.

What is your annual income if you dont mine stating?

I would try to get on a payment plan you can afford, if nothing else, it delays any legal action.

If they get a judgement and you make decent income, they may get a wage garnishment.

This would allow them to take part of your paycheck each period and your employer will know all about it.

 

I would also request all statements since the day you became late.  This will allow you to see how much of the balance is fees, interest, etc.

 

Do you have other accounts that are behind and/or written off?

 


 

Message 21 of 57
Sabii
Valued Contributor

Re: Capital One summons HELP

"I am also behind on my student loan."
Sorry to switch topics for a second? Is it a federal student loan? There are other options, such as a hardship deferment, etc. Would you like help with this? I can walk you through what your options might be and who to talk through. I've had to do this myself.



Message 22 of 57
Kree
Established Contributor

Re: Capital One summons HELP

Contact a lawyer to help with this. Not being served properly is a pretty big deal and you could get punitive damages from both Capital 1 as well as from whoever "served" you.

 

 

Message 23 of 57
pnrbma
Regular Contributor

Re: Capital One summons HELP

So do I just contact a lawyer, or do that and send the letter like the lady at the courthouse advised? I'm just afraid of shooting myself in the foot somehow
Message 24 of 57
Shooting-For-800
Senior Contributor

Re: Capital One summons HELP

Based on the amounts you owe, I would not hire a lawyer yet.

I would contact Cap One directly.

See if you can workout something with them directly.

Worst thing they can say is no.

 

Figure out how much you can pay them to get them to back down.

Explain to them that you are trying your best to avoid Chapter 7.

"I don't make much money and I am trying to pay the creditors who can work with me."

Do not give them any financial information.

Do not give them a payment over the phone.

Ask for a settlement offer emailed or mailed in writing.

 

See if you can budget like $100 per month for lower balance with no additional fees or interest.

Of course, part of the agreement in no court progress.

 

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2022.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!


Message 25 of 57
Shooting-For-800
Senior Contributor

Re: Capital One summons HELP

Have you considered Chapter 7?

Are you done getting surgeries?

Have you tried to negotiate or get your medical bills forgiven?

Some hospitals have 0% plans, some will reduce bills, some will do both, some will write off the whole bill.

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2022.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!


Message 26 of 57
pnrbma
Regular Contributor

Re: Capital One summons HELP

I am so sorry for the delayed response! As my streak of bad luck continues I got a call at work this week my mother was taken by ambulance to hospital so I have been here with her since and have not made time to continue with this until now - laptop in hospital.


@Sabii wrote:
"I am also behind on my student loan."
Sorry to switch topics for a second? Is it a federal student loan? There are other options, such as a hardship deferment, etc. Would you like help with this? I can walk you through what your options might be and who to talk through. I've had to do this myself.

Yes, I have to federal loans. One is with Great Lakes and one with Kentucky Higher Education. I would appreciate any advice at all and thank you so much for reaching out and offering to help!!

Message 27 of 57
pnrbma
Regular Contributor

Re: Capital One summons HELP

Thank you so much for the advice!!

I am so sorry for the delayed response! As my streak of bad luck continues I got a call at work this week my mother was taken by ambulance to hospital so I have been here with her since and have not made time to continue with this until now - laptop in hospital.

I will try to make time to call today. I was afraid to call them since they already have a lawsuit against me and especially since I have to notify the judge I was not served although records say I was -  which I still have not done. I was so afraid to rock the boat. But I guess you are right, at this point the worst that could happen is them saying "no."


@Shooting-For-800 wrote:

Based on the amounts you owe, I would not hire a lawyer yet.

I would contact Cap One directly.

See if you can workout something with them directly.

Worst thing they can say is no.

 

Figure out how much you can pay them to get them to back down.

Explain to them that you are trying your best to avoid Chapter 7.

"I don't make much money and I am trying to pay the creditors who can work with me."

Do not give them any financial information.

Do not give them a payment over the phone.

Ask for a settlement offer emailed or mailed in writing.

 

See if you can budget like $100 per month for lower balance with no additional fees or interest.

Of course, part of the agreement in no court progress.

 

 


 

Message 28 of 57
pnrbma
Regular Contributor

Re: Capital One summons HELP

I really really HOPE I am done with surgeries - although at this point I have learned that it is kind of out of my hands. Trust me when I say I never PLANNNED to ruptture discs and have three back surgeries already at my age - I am only 31. Most of my medical is paid - at least the hospital and surgical doctors. Many of it I had to pay in advance before they would even do surgery. All I owe now is physical therapy, which I am sending small payments. As a matter of fact, I just quit going to PT but it was so expensive and I knew I could not continue to incur more more more bills. I did have to call hospital and insurance a few times to get some bills lowered, but am happy to say that is at least PAID. but unfortunately is why I fell soooooo behind with Capital One. I put medical first. and still haven't gotten caught up.


@Shooting-For-800 wrote:

Have you considered Chapter 7?

Are you done getting surgeries?

Have you tried to negotiate or get your medical bills forgiven?

Some hospitals have 0% plans, some will reduce bills, some will do both, some will write off the whole bill.

 


 

Message 29 of 57
pnrbma
Regular Contributor

Re: Capital One summons HELP

So is it your advice to just ask the opinion of a lawyer first before doing anything?? I feel terrible that I have not even written the judge yet like the lady at the courthouse advised Friday. I am just so scared at this point. I just know I cannot afford a lawyer. Thank you for taking the time to respond and offer advice!!


@Kree wrote:

Contact a lawyer to help with this. Not being served properly is a pretty big deal and you could get punitive damages from both Capital 1 as well as from whoever "served" you.

 

 


 

Message 30 of 57
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