I was served a summons a couple of weeks ago by LBN in Oklahoma City. The suit is over a debt owed to Credit One, which I do not dispute. We're talking just under $1000. The account was closed 9/2010. I responded back to them with a list of my financial obligations. My wife is disabled on SSD. With my income, we net around $3300 a month. After bills we have roughly $1100 left over for living expenses, medications, gas, etc. We received a call yesterday about my payment options, which there are 2. Garnish my wages at 25%, which would be roughly $600 or acccept their payment option of $225 a month. I was told that they tried for 4 months to reach me by mail, to which I cry bull. My wife is home 24/7 and meets the mail carrier daily at the mail box. I certainly cannot afford garnishment and even the $225 a month will stretch us thin. We live in a small town. Is this worth at least taking to court or should I just accept the fact I screwed up and take the $225 a month payments? Seems they're doing a lot of barking over $1000 plus fees. Payoff will be in 8 months. Also, they want my bank account number, for which we are totally against.
Thanks in advance.