Four years ago I lost my job, and my wife and I could not pay everything. so we paid what had to be paid, house payment, elec., insurance,car payment gas, ect. we let two credit cards go for a couple of months, more like six months before I got a job. And now Capital One is sueing us for almost $8,000.00 for the credit cards that only totaled $2,200.00 to begin with. They got a judgment against us. They are going to garnish my wifes wages, we know, and we got papers to garnish our bank account. They are taking all but $400.00. Is that $400.00 in there, money that we can use to pay Bills? And how long will this go on? Is this something that keeps going on for weeks or is this just a one time thing?
Thank You
Pat
Forums
PFIELDS2,
I am sorry to hear of your situation. Capitol One can and more than likely will continue to garnish your wifes wages and your bank account. This can go on until you have repaid the debt.
I would either get a loan and get it paid off or try not putting money in the bank and paying your bills by money order. If your wife is already paying towards this debt you will need money for bills. By depositing it in that account you can never tell when they will attach it. What if they take money that was for a check you already sent out to pay a bill..you may end up with overdraft fees.
Pat
I am sorry to hear of the trouble you must be going through. But th fact is my friend, you owe this debt and they will try to collect it from you no matter what. This is a primary reason debtors are advised not to ignore debt collectors' calls or any other intimations. Anyway, if you think the amount is not fair, you can still seek debt validation.
If possible seek out a loan with a low interest rate (although it might be difficult for you to find one, but still) and speak with your creditor to get the loan paid off and the judgment done away with. You can then pay this new loan with your current earnings.