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Sued by Capital One

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quincy

Senior Member
Yes, I was confused by the question of my home state and thought their may ne another step to post the question, so I reposted.
That happens a lot. :)

So ... you are being sued by Capital One. Have you been served with a summons and complaint?
 

quincy

Senior Member
They made their first attempt today.
By "attempt" I assume you mean you were not yet personally served?

When you receive the complaint, you have a limited amount of time to file an answer (i.e., respond). If you have a defense to their claims (like the statute of limitations), you can include that with your answer.

Your answer can be as simple as stating "deny" or "affirm" or "neither affirm nor deny."
 

adjusterjack

Senior Member
Doesn't pay to duck process service. It only ups the process server's fees that get added to the debt.

While you are waiting, tell us about the debt. What kind? (Probably credit card.). When did you make your last payment before defaulting? How much do you think you owe?
 

Zigner

Senior Member, Non-Attorney
Doesn't pay to duck process service. It only ups the process server's fees that get added to the debt.

While you are waiting, tell us about the debt. What kind? (Probably credit card.). When did you make your last payment before defaulting? How much do you think you owe?
Not only that, but it increases the likelihood that the case will be allowed to move forward without the OP's input and the OP can wind up with a default judgement against him without even knowing it.
 

Parkside830

Active Member
Doesn't pay to duck process service. It only ups the process server's fees that get added to the debt.

While you are waiting, tell us about the debt. What kind? (Probably credit card.). When did you make your last payment before defaulting? How much do you think you owe?
It's $5700 I defaulted on the payments 3.5 yrs ago when I hired a firm to negotiate and consolidate 5 credit card accounts. They excluded 2 of the presently existing (at the time) accounts and included 2 that had gone of my credit report due to the 7 year statute of limitations . At that point I decided to just live with it on my record for another 7 years (halfway there). I don't plan on changing my position at this point and am aware that in Texas wages can't be garnished, in addition to that factI'm a waiter and my income is SOLELY in the form of tips. I'm also aware that in some cases debtor bank accounts are frozen. I'm mainly wondering what the odds of my account being frozen is and what actions I take or don't take can and/or will interfere with the 7 yr statute of limitations on this account?
 

PayrollHRGuy

Senior Member
I think you are mixing up the 7 years something stays on your credit report with some sort of Statute of Limitations.

The reason they are coming after you now is that the SoL on debt in Texas is 4 years. A judgment, what they will get when they sue you and win, is good for 10 years in Texas and can be renewed for another 10 after that.
 

Parkside830

Active Member
I think you are mixing up the 7 years something stays on your credit report with some sort of Statute of Limitations.

The reason they are coming after you now is that the SoL on debt in Texas is 4 years. A judgment, what they will get when they sue you and win, is good for 10 years in Texas and can be renewed for another 10 after that.
Right. I knew there was a 4 yr SOL on the lawsuit initiation. So if they win the suit, which they most certainly will if I don't show, this defaulted account will stay on my report for another 20 years (potentially) and I will also be incurring thr possibility of having my bank account frozen? What chance will I have of personally negotiating a settlement with them under such circumstances?
 

PayrollHRGuy

Senior Member
I have no idea how long it will stay on your credit report. But for 20 years you will have it hanging over your head. Below is listed what they CAN NOT go after. It will also be earning interest for all of that 20 years until paid.

  1. The homestead is exempt. This means a house and up to one acre of land in an urban area, or a house and up to two hundred acres of land in a rural area.
  2. Current wages for personal services, certain unpaid commissions for personal services, and certain health aids are exempt.
  3. Personal property that is eligible and that has an aggregate fair market value of not more than $60,000.00 is exempt if the debtor is married or otherwise part of a family and $30,000.00 if the debtor is a single adult not a member of a family. The following items of personal property are eligible for exemption within above monetary limits:
    1. Home furnishings, including family heirlooms;
    2. Provisions for consumption;
    3. Farming or ranching vehicles and implements; tools, equipment, books, and apparatus, including boats and motor vehicles used in a trade or profession; clothing; jewelry (not to exceed 25% of the aggregate); two firearms; athletic and sporting equipment;
    4. A two, three, or four-wheeled motor vehicle for each family member who holds a drivers license;
    5. Certain farm animals and forage on hand reasonably necessary for their consumption;
    6. Household pets;
    7. Cash surrender value of certain life insurance policies.
 

quincy

Senior Member
Right. I knew there was a 4 yr SOL on the lawsuit initiation. So if they win the suit, which they most certainly will if I don't show, this defaulted account will stay on my report for another 20 years (potentially) and I will also be incurring thr possibility of having my bank account frozen? What chance will I have of personally negotiating a settlement with them under such circumstances?
You have a better chance of negotiating a settlement if the creditor does not get a judgment.

Here is a link to tips on negotiating a settlement, written by a former debt collector, now attorney:
https://forum.freeadvice.com/threads/how-to-negotiate-a-settlement.428587/
The more time the creditor spends on collection efforts, the greater the amount of any settlement figure the creditor may be willing to accept.
 

Parkside830

Active Member
I have no idea how long it will stay on your credit report. But for 20 years you will have it hanging over your head. Below is listed what they CAN NOT go after. It will also be earning interest for all of that 20 years until paid.

  1. The homestead is exempt. This means a house and up to one acre of land in an urban area, or a house and up to two hundred acres of land in a rural area.
  2. Current wages for personal services, certain unpaid commissions for personal services, and certain health aids are exempt.
  3. Personal property that is eligible and that has an aggregate fair market value of not more than $60,000.00 is exempt if the debtor is married or otherwise part of a family and $30,000.00 if the debtor is a single adult not a member of a family. The following items of personal property are eligible for exemption within above monetary limits:
    1. Home furnishings, including family heirlooms;
    2. Provisions for consumption;
    3. Farming or ranching vehicles and implements; tools, equipment, books, and apparatus, including boats and motor vehicles used in a trade or profession; clothing; jewelry (not to exceed 25% of the aggregate); two firearms; athletic and sporting equipment;
    4. A two, three, or four-wheeled motor vehicle for each family member who holds a drivers license;
    5. Certain farm animals and forage on hand reasonably necessary for their consumption;
    6. Household pets;
    7. Cash surrender value of certain life insurance policies.
Thanks for the information.
 

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