I am freaking out. I am only 21 years old, due to barely making any money at my job have not paid my CC since Jan. 2010 after the account went into default in Nov. 2009 and on Friday I was served court papers from Capital One. I only owe $831.14 but they are asking for over $1,100 from me!
I am always responsible with my money and this is the first hardship I've encountered..I am still in college, live with my parents, etc but my parents are finally getting back on their feet themselves which is why they never were able to help me with my money troubles.
I am willing to pay back the debt of course, but I don't have $1,100 dollars so I want to work out a payment plan with Capital One, something I have not tried before because I'm basically clueless. Also I have no idea how to respond to the summons...some places say to deny the debt but I don't want to do that since I want to pay it back! What should I say? Should I speak to a lawyer? Any help would be appreciated. :)
I am just starting out my life and this is making me feel like it's already over.
answer to summons
Hi Alyssa,
Welcome to this community :)
As you have received a summons you need to answer to that within the given time limit. If you don't Capital One will win a default judgment against you. You can request the court clerk to help you in answering to the summons.
As for the amount, that the creditor is claiming you owe can be right and legal because interests get added to the last owed amount. If you want you can also talk to a lawyer.
Thanks,
Aaron