Summons for Charged Off Credit Card

**james.hendrickson** · 07-03-2017, 02:55 PM

Hey NewBeginnings...I know this may sound obvious, but have you considered making an offer to the lender to pay off the debt? They might settle for 50%, which you can probably get. (e.g. 50% of $2,300 is $1,150).

If you are going to court, it's going to be stressful and hard on your reputation, you are probably better off to just pay the lender and be done with the issue.

**disneysteve** · 07-03-2017, 03:06 PM

Originally posted by NewBeginning View Post

Summons for Charged Off Credit Card
Received a summons and I do owe the debt. $2300.

Question - can i try to negotiate with Capital One myself ?

Just to be clear, you received a summons to appear in court? That means you are being sued. That doesn't generally happen until way far along in the debt collection process. First the company tries to collect. Then they get a collection agency involved. Only then, after all attempts have failed, do they typically take legal action. That would suggest that you've been ignoring this for quite some time. Is that accurate?

I guess you can still contact the company and see if they're willing to settle. It can't hurt to ask. It's cheaper for them not to go to court, too, but odds are they will win the case since the debt is yours and you haven't paid it.

**NewBeginning** · 07-03-2017, 03:10 PM

Hi James! I'd like to but i don't have that kind of money. I would like to offer payments. This is why I'm on here...asking if anyone has had succesd with Capital One with just calling them direct and avoiding the lawsuit. I'd hate to call and have them say no then go after me with a more angry pursuit being that i cant at least pay half. Kinda scared here. Thanks James 💙

**disneysteve** · 07-03-2017, 04:06 PM

How old is this debt? Is it actually Capital One suing you or a collection agency?

**NewBeginning** · 07-03-2017, 04:55 PM

Capital One. An attorney of theirs. Charged off last December

**james.hendrickson** · 07-03-2017, 05:02 PM

NB - seriously, contact the attorney and negotiate. You'll be a lot better off in terms of your time and mental health if you wrap this up.

Yes, you can make 2,300 in extra money. There are lots and lots ways to do it, sell some of your stuff, develop a side hustle, temping, etc.

**disneysteve** · 07-03-2017, 05:30 PM

Originally posted by james.hendrickson View Post

NB - seriously, contact the attorney and negotiate. You'll be a lot better off in terms of your time and mental health if you wrap this up.

Yes, you can make 2,300 in extra money. There are lots and lots ways to do it, sell some of your stuff, develop a side hustle, temping, etc.

I agree. Contact the attorney and see if you can't come to a payment agreement.

I also agree that you need to do everything you can to come up with this money. $2,300 is not a lot of money. It certainly isn't worth being sued over. Your husband is currently out of work due to his medical condition. What about you? How much are you earning? What could you be doing outside of your regular job to earn extra money? Can you get a 2nd job? What skills could you monetize?

**NewBeginning** · 07-04-2017, 11:56 AM

I'm very nervous about calling about it. So I'd like to say the right thing lol. Do I offer anything up for payment? Like offer a beginning $200 payment then payments thereafter? See what bottom dollar they will take first tho? I just don't want to say the wrong thing you know? I guess i could just wait it out and see how much they wsnt to take but i need to get on this. Pretty nervous.

**disneysteve** · 07-04-2017, 12:24 PM

Originally posted by NewBeginning View Post

I'm very nervous about calling about it. So I'd like to say the right thing lol. Do I offer anything up for payment? Like offer a beginning $200 payment then payments thereafter? See what bottom dollar they will take first tho? I just don't want to say the wrong thing you know? I guess i could just wait it out and see how much they wsnt to take but i need to get on this. Pretty nervous.

Your best bet is probably to negotiate a settlement. How much do you have on hand right now that you can offer toward this debt? The collector may be willing to settle for as little as 20-25% of the balance. If you can start with an offer of $600 perhaps and negotiate up from there, you may come out okay.

It's less likely (though not impossible) that they would accept a payment plan. Look at it from their point of view. Here's a customer who hasn't paid their bill for months and months. Why would they trust that you'll suddenly start paying it now? They'd rather get what they can get and be done with it.

Whatever you do, once you come to an agreement, make them send it to you in writing indicating that the agreed upon amount will constitute final payment and no further collection efforts will happen. Also, and this is VERY IMPORTANT, don't do anything that gives them electronic access to your account. Make the payment by money order or cashier's check.

**NewBeginning** · 07-04-2017, 12:31 PM

Should i just deal direct with Capital One or call tje attorney on the summons?

**disneysteve** · 07-04-2017, 12:36 PM

If the company has charged off the debt they probably won't deal with you. I would call the attorney.

Summons for Charged Off Credit Card