Capital One Won’t Accept My Settlement. I’m Disabled. – Wendy

“Dear Steve,

I had good credit until I suffered a stroke after my 25 year marriage fell apart. I am on a fixed income now of $1380 from SSDI.

Like Genie was, I am also being sued by Capital one for credit card debt of $3600, + unspecified add’l fees and interest, w/only about 25 days to respond.

My credit is unlikely to ever recover, since I can never earn income again, and my medical bills just keep coming! I have already settled with 2 cc cos, but Cap One wouldn’t budge on amending the amount owed.

I have only exempt income (and told them so) and a 10 year old beater car, some used furniture and some personal effects as assets in my name, and I told them so. I used to own the home I live in with my daughter, but after she dropped out of college in 2007 to provide in-home care for me, I deeded the property to her in March 2010.

I was concerned that the end was near for me because I kept having mini-strokes, any one of which could’ve ended my life, or caused more severe disability. The home is worth about $180,000. It is the only way for me to compensate her for her giving up her career goals to help me in this situation.

I feel bad enough as it is and don’t want to leave behind any debt that she may have to pay later. I still want to settle the Capital One debt. This would leave me with only a few small medical bills that ended up in collections to do what I c to clean up my credit some.

I don’t want to file bankruptcy, because of possible “fraudulent conveyance” issues coming up, and don’t want to lose the roof over our heads. I would like to settle this debt because I fear what may happen in court.

I NEVER want another credit card again. I have a relative that has offered to help me out, but they cannot pay any more than the $3600 of the original debt, not all the extra charges Cap One may be awarded in court. After the Cap One is handled, barring more catastrophic medical expenses, I should be okay financially. Can you help me figure out what do next Steve? I read your great profile, and love watching those WWII dogfights also.

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Steve, I am desperately trying to settle my last remaining credit card debt to Capital One (amt: $3600). I was already served with a summons to respond to 4 days ago.

As a stroke survivor, my doctor advised me to “avoid stress at all costs”, but how exactly do I accomplish that? I thought that trying to call Cap One directly with an offer instead of calling their attorney might be better, but they patched me into a department that has had me on hold for FOUR AND ONE HALF HOURS, while having to listen to an endless 30 second long recording!

As I am writing this, I’m STILL on hold. They are probably snickering watching that “line on hold” button flash, knowing that it’s from a person they’ve already filed suit upon. I cannot sleep or eat from the stress this is causing me. I’m going to hang up on them now (I should’ve done it long ago, but it took me sooo long to type this, I figured I might as well leave the speakerphone on while typing!) Steve…can you, would you, please help me?


Dear Wendy,

First off, let’s bring your stress level way down. I know how personal this feels, creditors do that to people. But at the end of the day this is personal for you but just business for Capital One. Nobody there is stressing over it.

Capital One should have eagerly accepted your settlement offer to cover the original balance. But this is just another sad example of how creditors and logic do not always go together.

So if Capital one does not want to me logical maybe the place to start here is with the obvious. From what you’ve shared you are living on benefits and have no other assets to your name at this time. If you don’t expect that situation to change then you could always just let Capital One sue you and get a judgment. You’ve got nothing to garnish or levy unless you have loads of money sitting in a bank account that is in your name and from money not related to your SSDI.

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After they get the judgment, if you decide later that you want to try and settle, that’s always possible. But at this moment, let’s not get the stress level so high this kills you. maybe it’s just time to take a deep breath, let the situation flow and then deal with it on your own terms.

Does that sound like a reasonable approach at this time?


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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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