Hello, I am so upset and scared right now I can barely type! I was served papers today from ASSET ACCEPTANCE LLC, who has aquired an old debt from Fleet Credit Card. It was for about $8000.00 however over the years with interest at 20% and Im sure other fees, its now up to $13000.00 This account was charged off in 12/2000 and was purchased by this Asset Acceptance Company in 10/2001 ( this is per all the info in the papers I was served. I have 20 calendar days to respond with a written response to the court and to the Plaintiffs Attorney of which there address, name and phone number is provided. Needless to say I dont have $13000.00 to send them..big surprise! However I would like to make payments and dont want them to garnish any wages...WHAT DO I DO NOW? What type of letter should I send to the court and the attorney? I just want to make sure I do the right thing here and say the right thing....I am not disputing the debt, it is valid, however at this point I just want to make payments and avoid anything further. And, what type of things can they garnish or take? We have no savings, a small 401K, and a truck that we owe about $8000.00 thats a 1999? Can they take these things? What about my house? I am so scared and on top of this Im pregnant, so I dont need this stress! If ANYONE could give me any advise as to what I can do or should do I would be SO GREATFULL! I am just sick that we just chose to ignore this debt, instead of being responsible adults and dealing with it years ago! Again, any assistance would be greatly appreciated! HELP! Michelle
I'm very sorry that they're suing you. If you have other debts, then possibly you could BK? Not sure if you can avoid garneshment at this point. Maybe sell the truck or take a HELOC if you have a house? Second job maybe? They've filed suit, so a validation is probably not going to make this go away. Again, not much you can do outside of: -Pay it -Go to court and see if the judge will award less based on circumstances (if any) -Garneshment
Thanks for your help..so basically I am screwed,theres nothing I can do other than selling the only vehicle we have? Will most not accept payments? I did just get another bill from the collection agency asking me to call them to make some sort of agreement?..I didnt call since I didnt want to mess anything up or say anything I shouldnt? If they do choose to do garnishments will they tell us first? How long will it be before this happens? Geesh...I can feel my pulse rising again! Thanks Michelle
