[Debbbusa]

Hi,

I was served this week, capitol one credit card co is suing me for $1200.00 over an account that I have not made payment on in several years, 4 I believe, due to loss of income.

I called their attorneys office directly, the ones listed on the legal papers I was served with, but they wanted a cash payment of $1100.00 to drop the case, which I do not have. I offered $100 per month but they declined my offer. I refused to give them my home phone number, so they said 'thanks anyway' and hung up.

What will happen in court? I am so nervous, and no I cannot afford an Attorney. I have an auto loan through capitol one auto, which is current. Can they repossess my vehicle, or put a lean on that? I still owe 3k on it. I ask because it is really my sons vehicle, but it is in my name as he was too young to get a loan at the time, so while the loan and registration is in my name, he makes all the payments and it is his vehicle. I also own a home, which was just saved from foreclosure via a hard money loan. I was not on the mortgage until we refinanced in November 2006. Can I request that they simply put a lean on my property, do I have any say on what they put a lean on?

I am self employed, so they cannot garnish my wages, but will they do something to my checking account?

If I offer in court to make payments, how will they make me pay the money, will they put some sort of garnishment on my checking account, or simply take my word for it that I will pay?

If I sign up with a credit counseling service prior to court to try and set up a payment plan, will the Judge accept that and not garnish my bank acount? And what if the counseling service contacts the credit card co and they say no to a payment plan?

Thank you much for your help.

Deb

[excon]

Hello Deb:

ALL the solutions you offer are good. They're just too late. I doubt they'll accept ANY payment plan. That's what you had originally and didn't stick to it. NOW they can get a judgment, and just wait. They'll get their money.

Sooooo, I would do everything I could to raise CASH. That's the ONLY way this is going to go away.

excon

[Fr_Chuck]

Yes, the time to make payments and make offers is before they are getting ready to take you to court.

You are self employed, so I assume you have a bank account, lets say you put 3000 in that bank account but write checks for 3000, so you really have no money but guess what, after they get a judgement, they can watch that account and when there is money in it, freeze it and take the money.

Next by calling them and agreeing you owe the debt and making a offer to make payments you have now confirmed the debt, so if the SOL had run out you have now made it current by accepting the debt as valid.

So I would say you need to contact the credit card company and see if they will agree (in writing) to any plan of payment.

[excon]

Hello again, deb:

I forgot. What you need to know, is that a judge ISN'T there to help you. He's there to determine IF you owe the money OR NOT - nothing else! IF you owe it, the other guys WILL get a judgment. IF you don't, they won't.

The judge could care LESS about payment plans or credit counseling services. Like I said, it's some CASH now, or it's going to be more CASH later!

excon