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[HELP] Sued by CC for unpaid debt

Discussion in 'BBS Hangout' started by Toycen428_2pt0, Jan 11, 2019.

  1. Toycen428_2pt0

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    Capital one has taken me to court for unpaid CC debt of $3500. I have 6 other credit cards about $30k total.

    Long story short, going through a divorce, custody battles, I'm low income so I haven't paid a loan or credit card bill in 2 years. 2 months ago I tried filing for bankruptcy but if i did that my ex wife and son would lose their house that we purchased in 2014 because she is 3 months behind on the mortgage and my name is still tied to the house.

    Ex wife is in a hardship program with the house to reduce her payments by $300 a month and she said after march they may be able to get my name off of the house so I can finally do bankruptcy without them losing the house.

    My questions are what would it take to get a continuance on the capital one court case? It got continued in November until 1-28-19 because I told them i was filing bankruptcy so they have me time to get that in order.

    Also, if they make a judgement to make me repay the $3500, what type of repayment plan should I expect? I have a apartment that I can barely afford as it is and if I got a 2nd job is have no time to see my kids.
     
  2. larsv8

    larsv8 Contributing Member

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    Get off clutchfans and talk to a lawyer.
     
  3. Xerobull

    Xerobull Platinum Contributing Member
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    Hard truth here: You need to make more money, which is going to take you MORE TIME.

    Either get a better job, a second job or go to school/trade school to get a better job. It's going to take TIME out of your life. No one outside of trust fund babies gets 'rich' working 40 hours a week.

    Go walk in the forest or beach and get your head in the right place to do this.

    Good luck, man.
     
  4. LongTimeFan

    LongTimeFan Contributing Member
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    A few things..

    1. Don't expect the bank to release you from the mortgage; no benefit for them to do so.

    2. Don't be scared about a judgment. Often judgments aren't worth the price of the paper they were printed on because the debtors simply can't pay. It will affect your credit, but I suspect that it may be in rough shape already given your facts.

    After getting a judgment and waiting 30 days, the creditor would have to bring you in for a deposition to determine what you own that they can take to satisfy their debt. They can't take the house or the car. They can't garnish your wages.

    I wouldn't expect a creditor to spend that kind of time/money over a $3,500.00 debt.
     
  5. Dairy Ashford

    Dairy Ashford Member
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    Contact the firm or whatever and try to get a payment plan, five to seven years based on what you can pay per month. Also find out if the original creditor has sold the debt and try to negotiate a settlement of 25%. It's best to think of the suit as more of a collection strategy for the law firm. There are costs that they and particularly the creditor might not necessarily want to incur, so just approaching them with what you think a manageable monthly payment is ($50 - $100) might work. Keep any eye on your credit score and realize that below 650 or 600 landlords start requesting co-signers or we may just reject you outright.
     
    #5 Dairy Ashford, Jan 11, 2019
    Last edited: Jan 11, 2019
  6. HR Dept

    HR Dept Contributing Member

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    They will try to settle before the trial, and even afterwards.
     
  7. conquistador#11

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    The american way, file for chapter 11.
    who knows maybe you will become a great politician one day and finally reveal to us the truths about Area 51.
     
  8. Falcons Talon

    Falcons Talon Contributing Member
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    Sorry to hear of your financial troubles. I'm assuming your credit is shot. Not judging because I've been through 2 divorces and I know how hard it is. I'm barely reaching the time where the negative reports are falling off my credit score.
     
  9. Dairy Ashford

    Dairy Ashford Member
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    You and her need to sort this out pronto, it seems like this house is about to be lost anyway. Probably little to no equity but find out what you can get for it on the open market and sell if it's high enough. Look for some night dispatch or hotel night auditor jobs to bring in some extra cash.
     
    conquistador#11 likes this.
  10. DreamShook

    DreamShook Member

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    This is a question for Dave Ramsey. You should for real call into his show to get his advise. This sounds like a situation that would put you ahead of the wait line. Make sure you have all your information and accurate totals of debt because he will grill you on that stuff. Be honest about your situation and Dave Ramsey will probably give you some free debt help that will jump start your recovery.

    But like others have said, You have to start with making more money.. Dave Ramsey will probably start off with that.
     
    ima_drummer2k likes this.
  11. CCity Zero

    CCity Zero Member

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    What state do you live in? assuming Texas, CC Debt is unsecured and other than them having a judgement against you it's not going to do anything and will go away in 7 years or so, also, if you choose this option be prepared for various collection acts but other than destroying your credit they can't collect on it (again assuming TX). Some cards will write it off after 7 years and unless you have a lot of other debt that's secured a bankruptcy takes longer than walking away from cc debt. ie unless you have undisclosed secured debt don't bother with backruptcy.

    The house thing is tricky since divorce etc., especially since no reason for them to remove your name. I'd work something out with your ex to at least save that and forget the credit cards, at least the house hopefully has value/equity. Maybe you can work out agreement and help pay that, because if you lose that then you have nothing. If your ex works with you and agrees to some contract maybe when she sells or moves/upgrades you can get some of the equity back. But if nasty situation or no contract, and nothing left, just **** it and walk away. For 7-10 years things will suck but at least you don't have a bankruptcy attached to you.

    Obviously lawyer is ideal vs random forum people but unless TX law changed CCs can get judgements all day long and it doesn't mean ****. Unfortunately with your situation though it might mean not owning a house/car loan/Newccredit etc etc for a long time.
     
  12. CCity Zero

    CCity Zero Member

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    Or this, haha, make that money
     
  13. ima_drummer2k

    ima_drummer2k Contributing Member

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    Good stuff above. I don't think a 3rd party collector is going to bother much with a debt this small. They are just trying to scare you into paying the full amount. They probably bought it for pennies on the dollar, so anything over $400 is going to be profit for them. If you feel like you need to pay it off, I would offer like $800 and tell them that's all you have - take it or leave it. But get in in writing that the amount is SETTLEMENT IN FULL.

    But....

    Don't let these scumbags scare you into sending them money that you were going to use to pay the rent, groceries, light bill, etc. If you're in a bad financial situation, you need to make sure 1) food, 2) shelter (rent and utilities), 3) clothing and 4) transportation are paid every month before you do anything else. And that's every month.

    And maybe go drive for uber or deliver pizza to make some extra cash. I have a buddy who makes about $1,500 every month just in tips by delivering pizzas a few nights a week.

    Sorry you're going through all this. I agree with @DreamShook that a call to Dave Ramsey might be just what the doctor ordered for you. Your situation is exactly the kind that he can really help with. Might actually change your life (no hyperbole).
     
  14. Toycen428_2pt0

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    So I called Capital One (well the debt collections) and they offered me a lump sum of $2750 or 8 payments of $403... neither of which I can do or I'd lose my apt. And I'm in Virginia btw.
     
  15. ElPigto

    ElPigto Member

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    I want to tell you to talk to a lawyer but sounds like you cant even afford one anyways. Did a quick Google search and sounds like in Virginia they can garnish up to 25% of your wages if they have a judgment against you.

    Like others have suggested, suck it up a few months and get a 2nd job so you can get this **** off your back.
     
  16. Hustle Town

    Hustle Town Contributing Member

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    Sounds like someone needs to attend...
    [​IMG]
     
    ima_drummer2k likes this.
  17. body slam

    body slam Member

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    make more money, cut the budget, and no stupid spending

    paying for cable tv is a example of stupid spending
     
    buffalobills!!! likes this.
  18. DreamShook

    DreamShook Member

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    No expert, but dealing with these cc debt collectors you are in position of power believe it or not. You can get that payoff amount pretty low so they will charge off the debt. Keep talking to them.
     
    #18 DreamShook, Jan 11, 2019
    Last edited: Jan 11, 2019
    Invisible Fan likes this.
  19. ima_drummer2k

    ima_drummer2k Contributing Member

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    Yep, I wouldn't accept any offer above $1,000. They can go take a long walk on a short pier.

    Don't lose your apartment over a silly credit card bill.

    I would NOT do a payment plan of any kind. Do NOT give these bottom-feeders access to your checking account under any circumstances. They will CLEAN YOU OUT.
     
    Torn n Frayed and BigM like this.
  20. PhiSlammaJamma

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    Bad credit doesn't seem to inhibit much anymore either. Everyone just wants to make money and many look beyond yur credit if you have wages. I think you are still in fine shape. With a paying job 30k can disappear faster than u think. And 3k isn't worth their time to really ruin you.
     
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