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October 23, 2013 at 6:41 am
JarrodOkay, here goes: We have an LLC.
I am the one who signed on for the credit cards.
Business has not been good and so the Capital One card is in arrears.
They are telling me I am responsible for this debt and all research that I’ve done says the same.
They’ve charged off the card and now want either a payoff, which is almost the total amount or a lump sum plus hefty monthly payments.
I am not able to do either one.
I am expecting that they will take me to court.
What happens next? I told her I would call on 12/21, which I did.
She was not there.
I left a message with her supervisor, who also was unavailable.
I called this morning, 12/23 and left yet another message.
Can they legally force a person to take out a home equity loan to pay off a debt? Is it legal for them to be calling the home of my parents and sending mail there, where I have not lived for almost 25 years? If I do open the letter that’s waiting for me when I visit for Christmas, should I just get rid of it? Should I expect it to be a summons of some sort and why wouldn’t they just send that to me? They’ve confirmed on numerous occasions what my address and phone numbers are.
Should I not even open the letter? When they call my (elderly) parents, should they just say that I haven’t lived there for 24plus years and should they give them my current info, even though they should have it? I’ve never given Cap One this info, but I know it’s easy enough for them to get.
Anyway, I’m rambling because I am a bit mad, but mostly scared I guess, because I just can’t pay them what they want.
I’ve heard you all say just stay strong and tell them what I can pay, but …well, I guess I need knowledge, wisdom and encouragement this morning.
Thanks and Happy Holidays, Dawn in NJOctober 23, 2013 at 6:55 am
MarkusDave doesn’t normally recommend bankruptcy but has also said that if it comes down to it, and you really cannot pay, then they may force you into having to do that.
SherylOctober 23, 2013 at 7:10 am
StevieCalm down….
you’ll be ok First thing though, read the Fair Debt Collection Practices Act – [MOD EDIT: URL removed]October 23, 2013 at 7:29 am
ElroyDave doesn’t normally recommend bankruptcy but has also said that if it comes down to it, and you really cannot pay, then they may force you into having to do that.
SherylOctober 23, 2013 at 7:37 am
BerryI guess I was responding to the fact that she said that there was no way that she can repay anything….I know in situations like that, that Dave has said that the company you owe may end up forcing you to have to file, so wasn’t sure from what she posted if she was even going to be able to make any sort of payments at all….if the cc company can get the court to either garnish her wages or else put a lien on her house or bank acct, then she may have no other choice (depending on what her individual circumstance is)…but I hope it doesn’t have to come down to that though.
SherylOctober 23, 2013 at 7:49 am
DevonI did that with a $5,000 bill. They wanted $500 – $1,000 a month. I said where do I send the payments. They gave me the address. I went on to my bank, set up a payment of $100 a month and send it automatically every month. It will take a LONG time to pay that off,but they have never said one word to me again.
They just get their $100 a month. I never made an agreement with them, I just started sending them what I could.
Shay debtfree -
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