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TXCajun · Oct 15, 2007, 01:27 PM

I have just been served by a constable papers stating I am being sued by Capital One for a past debt in the amount of $2500.00. I admit, this is my debt. I went through some very difficult times, including pay-cuts, medical bills for both myself and grandson, (pay bill or continue to see my grandson suffer?) I have been reading all the posts and info available on the internet. I am so confused. I have been on disability for the past 4 months and am returning to work soon. Before I contact the attorney or answer the summons, what should I do? I am willing to attempt to drain my savings and work out a payment schedule for the remaining amount we may agree to, but then I will also need to work out a payment schedule with the hospitals and doctors who have and are treating me for my medical condition. I have some money in stocks from my company that I could sell, this was the money I was planning on using to pay towards my medical bills. I am not a deadbeat, I am a hard worker who has just fallen on very hard times. Can someone help?

Thanks and God Bless

swapwap · Oct 15, 2007, 05:11 PM

NO one is saying you're a deadbeat. This is unsecured debt and for capitol one or any unsecured creditor to put a American citizen through this crap is redicilious. Look at ll the money our country gives aware to utilitarian style dictators around the world each year. We could all be millionaire's whit that kind of forgiven money!! 1st. You must answer the summons to the court and the plaintiff, usually within 30-days. This is very important. If you do not answer they can get a default judgment. What they are after now more than anything is that judgment, which makes the debt enforceable for them to collect through the law. If you case since you are willing to pay, I would suggest you contact someone who can negotiate your debt down and make arrangements for your suggested payment plan. If you call them yourself and tell them your story, they may consider it as well. If you have assets or a job they will try to sue to get a lien or garnishment to get this paid off. If you want to fight them in court you could potentially out it off for another two years.

TXCajun · Oct 15, 2007, 07:03 PM

swapwap, thank you for your answer and your words of kindness. The only assets I have at this time are the stocks from my company as a reward from our emergence from bankruptcy and my contribution to work at a big cost in my pay and my 401k. (I lost more than half of what I had saved when our company filed!) I rent at this time, I sold my house years ago to help put my younger son through college after his dad left us (for his bosses daughter... ) My son worked as an RA and got as many grants and scholarships in order to keep the costs down, but he was accepted to an Ivy League school and need I say more? He's still very young and has already made plans to assure I'm taken care of in my older years, but we never thought I would be in this condition (medically) at this young of an age. And there is still the medical bills and financial support to my older son and his wife and my grandson. So here's my dilemma, I have 10 days to send an "answer" to the court and the plaitiff's attorney. What is an "answer"? My medical bills at this point are over 10k and my other bills put me in debt at the amount of over 30k. I make only slightly more than this in a year (before taxes). Should I file for bankruptcy? Can anyone give me additional advise? And any more from you swapwap?

Again, thanks and bless you all!

ScottGem · Oct 15, 2007, 07:53 PM

Since Texas doesn't allow garnishment of wages, I wouldn't consider bankruptcy. If you can make a lump sum pmt of 50-60% I would offer to settle for that amount. After you respnd to the summons with your Intent to Defend.

TXCajun · Oct 15, 2007, 08:04 PM

Thanks ScottGem! I hope I don't sound like a dimwit, but how do I respond? I'm great at my job and pretty much on the know, but when it comes to legal jargon, I admit, I'm lost.

ScottGem · Oct 16, 2007, 05:14 AM

If you read the many similar threads here its pretty simple. Either the summons has a form on it or you just submit a letter stating that you Intend to Defend against the suit and requesting a court date.

You send a copy to the creditor with a request for verification of the debt. Include a separate letter to the creditor suggesting that, if they can verify the debt, you might be willing to negotiate a settlement.