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New Collection - Large Balance - Summons, Garnishment, Lawsuit?


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Posted by Scared (68.11.188.61) on October 20, 2002 at 09:53:47:

I have two debts that are being handled by a collection agency (American Express $24,000 - calls and letters from NCO Financial, and Capital One $8,000 - calls and letters from Capital One Recovery Specialist - probably in-house). The last payments were made January 2002. Neither company will accept any type of monthly payments and are demanding lump sum payments to settle the accounts, which I am unable to do. I was able to make payment arrangements with the other 3 creditors I fell behind on, and have been making timely payments on those accounts since July. I'm afraid NCO and Capitlal One is going to sue, or send a summons, or wage garnishments because of the large amount owed, and because I can't send a lump sum payment. I am married and both the debts are under my name only. If this were to happen, could they garnish our joint checking account, my husbands wages in addition to mine? If I did go to court, I wouldn't have the SOL in my favor. Would the judge look at my financial picture to see I can't pay the lump sums and can't afford to have wages garnished without meeting everyday living expenses (food, gas, elec, etc)?


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