Announcement

Collapse
No announcement yet.

Capital One

Collapse

Unconfigured Ad Widget

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Capital One

    Anyone have experience with Capital one going for an AP or filing lawsuits before getting a chance to file bankruptcy? I've been hearing bad things about them from friends. I owe them the most of the credit cards. I know most creditors wont do anything until after 6 months, but people make it sound likely that Capital One takes action immediately. I owe them about $6500 I'm so nervous because the soonest I can file bankruptcy is 6 months from the first late payment, but it might be later than that. I'm still waiting for my divorce proceeding to finalize.

    #2
    If they file a lawsuit BEFORE filing then there are things you can do to delay it. You can answer the complaint which will give you time to get ready to file. And then it can take more time before you get to trial. As far as filing an AP by waiting six months it makes it extremely unlikely that would happen. And filing BK stops lawsuits in their tracks.

    If your attorney advised making minimum payments that would be a good idea. AP's are very unusual. There's only been one other post in the last six months in this forum regarding a potential creditor vs debtor AP so that should show you how rare that is. And that is for blatant abuse of the BK system. From your other posts it sounds like your purchases are not likely to be considered luxury goods and definitely not over $675 in the last 90 days. Tell your creditors good luck!!

    By the way if a creditor contacts you post filing against the automatic stay your complaint would be in the form of an AP as well.

    Comment


      #3
      I agree with all that Nodebtrenton says. I can't imagine your attorney saying to make minimum payments on dischargeable debt unless there is a good reason.

      6 months would be pretty quick, but even if CapOne does manage to get a judgement before you file, it will be discharged in the BK.
      LadyInTheRed is in the black!
      Filed Chap 13 April 2010. Discharged May 2015.
      $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

      Comment


        #4
        I was making minimum payments to as many creditors as possible but I couldn't to all of them after leaving my spouse. As I mentioned in the other posts, unfortunately, I was a dummy and we put the debt primarily in my name. I just stopped paying the credit cards in the last 2 weeks until I talk to a lawyer because I learned that they can complain if im only paying some and not others and take back those payments to redistribute anyway. I'm saving to get the taxes paid by April instead. I stopped using credit after leaving my spouse knowing that bankruptcy would be the likely outcome after talking to financial counseling. I realize my posts may seem redundant but I'm trying to figure out what to expect from different creditors and what action is likely :^) I'm pretty scared as I'm sure most people are prior to a bankruptcy. Especially trying to get through a divorce too.

        Comment


          #5
          So yea, that letter was just a threat from checksmart. Other creditors sent me letters offering hardship payment options. I guess I will have to take those to the lawyers this week with me. I feel so bad. I've been such a good customer that most of them actually do want to help, I'm just drowning in so many accounts. Even greenpath said they couldn't get a payment arrangement for me without me being way way short every month I wish I could just make it all work. I feel so guilty.

          Comment


            #6
            If you're as poor as you say, even a litigious creditor such as Capital One or Discover Bank is going to wait a long, long time before taking legal action. It took Discover over 3 years to sue me, and I was extremely poor at the time!

            The only time a creditor will sue quickly is if your credit report indicates that you're paying other creditors but not them, or if you own real estate or other lienable assets. Otherwise, they'd just as easily wait, because the balance keeps growing with interest and fees, and waiting gives the debtor time to find a job and get back on their feet financially to be able to pay a judgment.

            Comment


              #7
              I'm not poor, but I owe more than I make. We jointly have a mobile home but he lives there now and it doesn' show on my credit report. I pay for my car because I need it to work. I bring home less than 2k a month. I would not be able to afford rent and utilities in this area without a roommate let alone anything else on top of it. I already have a full time and part time job. I don' have anything valuable. The car is upside down and the mobile home has no equity yet. I'm going to lose that during the divorce anyway. I'm not at poverty level though, no. Poverty level is like 15k a year

              Comment


                #8
                And stormygate that's a lot to handle. Nobody wants to file BK. and noone wants a divorce. They both suck. But to have to do both must be gut wrenching. But the good news for you is when this is all done you'll have a completely fresh start on life. I just can't imagine. BK sucks as it is. Stay strong! We are all rooting for you!!

                Comment


                  #9
                  Originally posted by Nodebtrenton View Post
                  And stormygate that's a lot to handle. Nobody wants to file BK. and noone wants a divorce. They both suck. But to have to do both must be gut wrenching. But the good news for you is when this is all done you'll have a completely fresh start on life. I just can't imagine. BK sucks as it is. Stay strong! We are all rooting for you!!
                  Thanks. I didn't want either thing but had to do something to get out of the toxicity. It's very scary and painful, but that's the way I'm trying to look at it. Fresh start.

                  Comment


                    #10
                    Capital One is horrible! We got hit with lawsuits about 1-2 months before filing. One came about two weeks before we filed and my attorney told me to not even respond, that it was pointless. However the ones that came about 2 months before filing I DID respond to. We have learned the hard way in the past - if you don't respond they will file a judgment and garnish your wages! And they include all kinds of fees in the garnishment. I didn't want to take that risk so my attorney told me just to respond to the complaint, saying that I was questioning the validity of some of the charges. If you at least respond to it, they can't get a judgment and it buys you more time. Good luck!

                    Comment


                      #11
                      If anyone else is curious aboth Captial One, they did absolutely nothing. I filed in August ans 341 was today. They just kept sending me notices. Actually most of the creditors didnt even bother sending stuff to collection. A few did. I know they have time after the 341 to file complaints. But I have nothing of value so I doubt they're going to want to.

                      this year has been horrible. My ex spouse never does anything but he kept threatening to try and fight for our dog, or fight to get his firearm back, which due to the situation I've had to make sure I can legally prevent that. I can't completely block him until everything is settled with the bankruptcy due to the joint mobile home. I've just been stressed beyond measure but I can see light at the end of the tunnel. I really hope everything will be ok and the trustee doesnt have any concerns.

                      thank you all so much for your support and advice

                      Comment

                      Unconfigured Ad Widget

                      Collapse
                      Working...
                      X