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I had a Capital One CC balance of 7K when I became unemployed - tried to work with Hardship Dept., they gave me a 1 month break, I could not keep up with payments, defaulted and debt was sold to LVNV Funding - they are threatening to sue (by mail) for 2 years now. My unemployment pay is minimal ($750/month). What can they do to me? What are my options if any? I am now a full time student with 1 yr schooling to go. I have no plan to work before I complete my degree. Thanks!
do you have all your credit reports?
what state are you in?
what is the original creditor and the name of the CA?crap1 and lvnv
what is the date of first delinquency? 30 days after last payment
whoops
Some thing is not quite clear to me - Has this LVNV Funding just been threatening you for the last 2 years and didn't do anything at all? Did they offer a deadline?
credit
(Just my '2 cents')...I don't see how they can do anything, if you're not employeed. However,,you did say you recieve unemployment. And, 'they' do consider unemployment a type of 'wage'. I've had a few CA's threaten to do all kinds of things (for years now). Anywhere from coming up to my door to "take me to jail" to "taking all my properties from me" (that would be difficult to do since I don't own "property"). Alot of the CA's don't 'play by the rules'. I've actually called their 'bluff', a few times, and they left me alone.
well most CA mention a potential lawsuit in their letters and phone calls. 2 years will take a good bite of the SOL so I really need to know where the OP lives and when the last payment was made.
as far as not being able to do anything, well they can put a judgment on you. that gives them 20 years or so to wait for you to get a job and take their money.