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Will Capital One Take Our 12 Year Old Car?

“Dear Steve,

a judge found in favor of capital one that i had to repay 7,000 on 700 that i put on a card years ago. i have a house in both my wifes and my name, a 12 year old vehical in my name and have been unemployed for almost 2 years. today i recieved notice of deposition in aid of execution. it has a court date, and request for 3 years of financial info. i have 5 kids, we are on food stamps, can they take our only mode of transportation?”

Capital One does not want your 12 year old car. You might want to consider ending the suit and debt with bankruptcy. You can click here to find a local bankruptcy attorney. A Chapter 7 bankruptcy will probably only cost $1,500 as opposed to the $7,000 plus interest they want now.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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