I've been avoiding bankruptcy and managed to settle $65K of debt down to $22 last year (a loan from my sister). I still have $22K of debt with 4 credit cards. I remained current on 3 of them throughout because the payments were small enough and the interest rates were real low. I had to quit paying on two of 3 accounts about 3 mos. ago.
I tried to settle w/Capital 1 at the same time I was settling with the other accounts, but they wouldn't take the only offer I could give them (which was the same offer I received from the other credit cards I settled with).
It's now been about 16 mos. since I first became late wit Cap One and now I'm getting these letters in the mail from legal agencies about a lawsuit against me filed by Cap 1. I haven't received any notice from them and I tried to find the right site for new suits filed, but I didn't see any lawsuit filed against me on the one site I found. I live in the Atlanta, GA area and I'm curious as to how these legal agencies know of this lawsuit and I don't.
I have no income and the credit cards are in my name only. I'm over 60 and my husband has been reduced to only Soc. Sec., so there's certainly not much in my bank accounts and nothing to garnish. Is it necessary for me to even consider bankruptcy right now? I've read through so many posts and I've yet to come across one with my particular situation. I'll appreciate any info I receive from anyone. Thanks very much.
I tried to settle w/Capital 1 at the same time I was settling with the other accounts, but they wouldn't take the only offer I could give them (which was the same offer I received from the other credit cards I settled with).
It's now been about 16 mos. since I first became late wit Cap One and now I'm getting these letters in the mail from legal agencies about a lawsuit against me filed by Cap 1. I haven't received any notice from them and I tried to find the right site for new suits filed, but I didn't see any lawsuit filed against me on the one site I found. I live in the Atlanta, GA area and I'm curious as to how these legal agencies know of this lawsuit and I don't.
I have no income and the credit cards are in my name only. I'm over 60 and my husband has been reduced to only Soc. Sec., so there's certainly not much in my bank accounts and nothing to garnish. Is it necessary for me to even consider bankruptcy right now? I've read through so many posts and I've yet to come across one with my particular situation. I'll appreciate any info I receive from anyone. Thanks very much.
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