Check out some similar questions!

eternalsin · Jan 20, 2007, 08:28 AM

I am being sued by Capital One, I am set for trial February 5th, 2007 against Capital One. My original debt was 500$, I was sent a letter of judgment against me 12/1/06 saying that I owe them 1700$... I file a report asking for debt of validation and the collection agency that is representing Capital One sent a validation of debt to me. It showed that I originally owed them 500$, with late payments, 25.90% interest, attorney fees and court fees, my debt is now triple of I originally owe them, 1700$ and climbing.

The matter is now set for trial. I have tried calling them up to see if I can settle matters out of court. They told me they will accept 1100$ as a payment plan on a monthly basis. If I pay them 180$ each month. I don't have the funds to covered 1100$ that they are asking for on a monthly basis because I am barely scraping by now.

I am really afraid of going to jail because I can't pay them. Will I go to jail if judgment is won against me? I am a student going to college and I made some poor decisions in my life but not paying this 500$ is probably the worst mistake I made. I don't have 3000$ in personal properties, I am barely getting by with financial aid at my school. I have a financial aid job with a limit of 2500$ per a semester. I don't know if I meet Judgment Proof in my state, I live in Colorado. I'm not exactly sure what to do at trial. I am very afraid. Any help would be appreciated, thanks.

ScottGem · Jan 20, 2007, 08:34 AM

Debtors prison was abolished over a century ago. You will NOT go to jail for unpaid debts. What you are facing is NOT a "trial" but a hearing. There is a subtle difference. You will go before the court and plead your case about what you can afford, since the debt is valid. Its possible the judge will force them into a settlement that you can afford. Otherwise, they will win the judgement against you which gives them the right to garnish your wages or attach any cash assets you have. If you have no savings or salary, then there is little they can do until you do get a job.

mr.yet · Jan 20, 2007, 08:43 AM

Did they validicate the debt by produce the original contract?

Or did they just send a alleged statement?

They must possess the original contract to validicate their claim, if they cannot produce the original then they have no claim.

Debt Collector agencies most of the time buy the debt fform the original creditor for pennies on the dollar.

Do go to court and demand to see the original contract that you signed to compare the signatures on. If no contract, than no claim.

eternalsin · Jan 20, 2007, 08:52 AM

Thanks ScottGem, hearing that I will not go to jail is a sign of relief. I have a job but it's being paid for by financial aid at my college, it's a financial aid job.

Mr.Yet, they did not give me the original contract. What they gave me was an online statement of my bills and terms of services, which was slightly faded and hard to read. My signature wasn't on any of it.

When I go to court this Feb. 5th, how should I proceed exactly in this hearing? Ask for original contract and is there anything else I should prepare for? Thanks.

mr.yet · Jan 20, 2007, 08:59 AM

Deny everything until they produce the original contract to compare signatures.

If they don't have the contract or anything with your signature on it how can you be sure it yours??

Deny all until than.

" I demand to see the original contract , if no contract than there is no valid against me, Move to dismiss with prejudice"

After that don't answer any more question, same statement over again. The court will try to get you to admit you signed it.

Fr_Chuck · Jan 20, 2007, 09:56 AM

As noted you can not go to jail, this is not a trial, but a hearing, you are not charged with a crime, they are merely trying to get a judgement against you.
Once and if they get this judgement, they may attach (garnish) your bank accounts, and garnish any paycheck you get up to 50 percent if you are single in some states, 25 percent in others.

ScottGem · Jan 20, 2007, 04:05 PM

You said they sent a validation of the debt, so I assumed it was the original contract. But since it wasn't, they have to produce it, otherwise the judge will not rule in their favor. He may postpone the case giving them time to produce the documentation. If they can't produce it at the second hearing, ask the judge to dismiss with prejudice.

worriedgurl · Feb 9, 2009, 10:10 AM

Eternalsin what happened when you went to court on Feb 5th with Capital One? I just found out I'm going through the same and was wondering what happened at court. Thanks.