Forums
I was served with a summons in mid jan regarding a cc debt from 2006. The original debt was with Capital One but was referred to Midland and now Frederick Hanna "attorney". I di contact the collector and told them I only have a few hundred dollars to pay. I will admit I owe some of the amount but do not have the money ( and really in general not willing to pay) to pay additional 600.00 which has been tacked on. I am getting ready to submit an answer form but not sure if should say I am willing to pay some or just say I neither deny or admit and give the reason. I may also add I am now unemployed and do not have forthcoming income (other than child support for my son) to do payment plan as offered by the collector. What should i do?
Summons from frederick hanna
Hi Porshenia,
When you submit the answer form, mention that you are unemployed and won't be able to pay the whole amount including the interest. Request the collectors to settle for a lesser amount. Talk to them about your hardships.
When you will settle the debt amount with the collector, remember to request the collector for a pay for delete agreement. If the collector agrees to this, the item will get removed from your credit report and the report will reflect as "paid as settled".
However remember to send all the letters through certified mail. With this you can retain the proof of your communication with the collector.
Capital One has always used the SOL for the state of Virginia which is 3 years. What state do you live in?
I would verify the DOFD, and explore a SOL affirmative defense. I would assert the SOL in your response. even if it doesn't work, it could reduce the settlement.
A PFD would be great but hard to negotiate when you are this far along.