How to Get Out of Debt Forum

Capital One is After Me in Canada

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7:51 am
January 15, 2010

Jon Emge

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posts 1018

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I am sorry to hear of your experience with Capital One and know having collectors phone you for payments is stressful.

As for what the creditor can do to you has many facets to it. Naturally they will attempt to collect the debt by phoning you and sending notices. They may escalate their efforts and threaten you with legal action and attempt to take you to court or make you bankrupt.

For the amount you have stated you owe, they may just continue to phone and send notices as it can be costly to the creditor to try and follow through with legal action.

As for what you can do, you can only pay what you can. You can provide the agency collecting or creditor with a detailed income and expenditure form documenting what you can afford each month, if anything. If they decide to pursue legal action you can show this information in court and it will be a judge's decision as to the outcome.

The key is to try and keep calm when speaking with the collector and also not making promises you cannot keep. I know this is easier said then done and if the conversation with a collector gets heated you can simply put the phone down.

I hope this helps.

5:26 pm
January 14, 2010

BabyBlue

New Member

posts 1

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I live in Ontario,Canada..Today I just recieved a phone call from Capital One saying that I have an outstanding balance of 1,600 dollars. At first the man said capital one wanted the whole amount..I told him that there was no way I could do that because I am only receiving a ODSP (Ontario Disability Support Program).

So he told me to ask my relatives for the money and I said that my family cannot just give me that kind of money..he said "why Not?","it's only $1,600 "..I said , because my family does not have that kind of money to give out just like that..and that i have no other income.( I live alone with my 18 year old son who is not working)

So he made me write down his number & repeat it back to him just to make sure I was really writing the number down, telling me that I better come up with $300.00 as a down payment by the end of the day and let him know how I was going to pay the rest by making good faith payments.

I'm scared, because I don't have the money to pay them today or any day for that matter..I will never have the money to pay this bill.

Whats going to happen to me?

What can they do to me if I cannot pay?

How do I deal with this matter?

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