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Being sued by Capital One – should I sign the agreed judgment? – Charla

Written by Consumer

I lost my job 3 yrs ago. I was unemployed for 8 months with no income at all.

I am now employed – but only part time. Can barely make the house payment and put food on the table for me and my son.

I just completed a course to get an Activity Director Certificate. Should receive it soon. Hopefully then will get a full time job and have more money to work with.

Attorneys for Capital One have sent me an agreed judgment and are asking me to sign it and send it back. Should i? Will they be able to garnish my bank account? I told them I would try to pay $10 a month till I get a better job. Should I file bankruptcy? Please help!!

Thank you,

Charla

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Consumer

This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.

8 Comments

  • Hi Charla,

    Agreeing to a payment that you cannot afford is rarely a good idea.
    If you agree to the stipulated judgment and miss a payment you do indeed risk your bank account being levied.
    If you don’t agree and the case progresses to summary or default judgment – you risk wage garnishment (depending on state you live in) and bank account levy.

    You should contact a local bankruptcy attorney and discuss your options for relief through chapter 7 as soon as possible. If you learn something that gives you pause with electing to file, please update with details in the comment section.

    • In the letter from the attorney he states that we cannot reach an agreement which would be acceptable to Capital One.  He said Capital One is willing to work with me to try to resolve this issue.  It says upon entry of the Agreed Judgment, Capital One may file an abstract of judgment in any jurisdiction it deems appropriate and may seek to collect on the Agreed Judgment should it so choose.  Then it says should I be able to make payments on the Agreed Judgment, I should  make them payable to the Attorney’s Office.  He also included a document I could fill out to have whatever payment I wanted to make deducted automatically from my bank account.
      This doesn’t seem to me to indicate that they are planning to garnish my bank account, but then I really know nothing of such things.  Can you tell what their intentions are?  What should I do next?  Should I sign this agreement or not?
      Thank you

      • Is it possible to see the letter from the Atty and the proposed agreed judgment? That would assist greatly in assisting you in making a decision.

        • Charla,

          If you scan or take a picture of the letter, cut out the bits with your name and address on it or any other personal information, and then save it. You can then attach that image to a comment using the little + add image button when you reply.

          Steve

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