John
Louisville,#2Consumer Comment
Sat, May 16, 2009
CapitalOne is very aggressive and they are totally serious about taking people to court over small dollar amounts: On the court date: DO NOT be a no-show under any circumstances whatsoever. Not showing up is the worst thing you can possibly do. Even if you are frightened....or you're sick with a 102 degree fever...or if you think that you'd loose anyway...show up anyway! If you don't, the other side will get a default judgment and they will get this on THEIR terms. They will tack on all sorts of add-on fees and the amount of the judgment could end up being two or three times the actual amount of the debt. - bring complete documentation of your income and living expenses: Pay stubs and copies of bills. Even if you loose, you can use this to negotiate much more favorable repayment terms. Request the following info from the other side on the court date: - a copy of the original application with your signature - a fully itemized statement for the amount they are asking which clearly details how this amount was calculated, including the interest rate being charged - How much was this debt purchased for? =============================== Lastly....if they take you to court and win a judgment, this will authorize them to freeze your checking accounts....To be safe, this might be a good time to start pulling out any money you have in check/savings accounts and putting the cash in a safe deposit box to keep them from getting your money. Also, stop any direct deposits of payroll checks