Served - Capital One - Need advice! I posted about this situation 6 months ago and today it happened......I was served. The readers digest version - I turned a car back into the finance company 2 years ago. Capital One turned it over to an attorney in March of 2008. I requested validation and received nothing the first attempt. I requested it again and they sent me a copy of the contract. The last bill I received from Capital One 2 years ago stated I owed around $9000. This lawsuit is for over $14,000. Either way, I can't pay a thing on it. Because of my income, (under 23,000 a year, single mother and also a college student with 2 kids also in college) I have nothing.....no real estate, a used car that is going on 3 bad tires right now. I was advised by this board 6 months ago to file a chapter 13 and in 2010, file a chapter 7. ( I filed chapter 7 6 years ago) So what's the best way to handle this..... Response to the suit and see what happens before I file chapter 13? File chapter 13 now and include the $14,000? If they get a judgement against me and they will, can they start wage garnishment immediately? ( I am already in the hole each month) I am trying to stay calm but this is pushing me over the edge. I feel so worthless. The only thing keeping me going are my great kids.
ok take a deep breath settle down.I'm not worthless i'm a hard working single mother whose raising two kids and putting them through college.Don't ever say your worthless it's simply not true.There's alot of people ready to help and they'll start posting and advise you what could help you.hey this will pass.
Whether they can garnish you depends on your state. How much do you want to fight this? You need to study up on the repo laws of your state. There are very specific laws in most (if not all) states detailing exactly what a finance must do, the information they must provide you, etc., etc. to have followed the law. Many times they don't. On a side note - Cap One is getting trigger happy with law suits. I'm reading more and more everyday where they are suing. First thing - what state are you in? Someone might can give you worst case scenario if you simply do nothing.
I am in Arizona. I would appreciate any help with this. I cannot afford an attorney so I am on my own.
AZ is a wage garnishable state, 25% of the statutory net disposable earnings of debtor. Court may reduce to as low as 15%. Either do nothing and let them garnish or file bankruptcy.
