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Capital One is Suing Me and I’m Really Depressed. – Genie


“Dear Steve,

Hi, I’m so glad I found this site. I’m 26, just graduated from school…and I have a ton of debt which is driving me crazy.

Right now, I have a few collections agencies after me. Last week, I go home on Friday and find 3 letters- 2 of them being summons and one from the lawyer who is about to sue me for $1250 on a credit card bill from Cap. 1 which was originally $650 which I could not make minimum payments for.

I’ve been trying to keep up with payments for other loans and bills. It’s getting really hard for me now to keep up. I really want to settle at least this one with a lump sum amount- which is a bit less than what their suing me for.

I want to call to make the offer,but at the same time, I’m afraid if i say the wrong thing, it’ll backfire and I’ll end up paying more or having the debt unsettled. Please….I need your help. I now have 20-25 days to respond to the summons. I’m also afraid that if I pay this one, Cap. will come after me again for the other cc bill, which I may not be able to pay.

What should I do? I’m really depressed and going crazy over this. As I mentioned, I also have other debts in collections aside from this one. The other biggest one that I’m worried about is a student loan- which I think is a federal loan…I’ve been getting letters saying they’ll garnish my wages…but I have no full time job. I can’t afford to be sued by them either. I really really really want to settle these debts, but I dont have any money. Thanks for your help

Can You help me? How do I go about with settling these debts- starting with at least the one i’m being sued for….Please help.


Dear Genie,

I’m really glad you found my site as well so I could help you with some practical advice.

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This is obviously a situation that did not begin last week. For all of these debts to be in this stage it has been brewing for a while. The most serious of the debts is the student loan. Student loans have the most unfettered powers to inflict real pain on your financial life.

If you could update me on the total amount of debt that you owe, not including the student loans I could give you a more detailed answer. Just update me in the comments section of this question.

The first step is to get a plan in place to get your student loans out of default. Since these are government backed loans I suggest you look into the IBR option available. Loads of information is available here on the Income Based Repayment (IBR) program.

Now, how we deal with the other debt is unknown till you give me more information but one thing is for certain, do not settle any debt until we have a master plan.

I understand the emotional drivers of wanting to make this CapOne debt go away but using available funds to settle one debt in a bigger problem is not a solution. It’s like fixing one crack of many in the face of a dam.

Right now this all feels immensely scary and leaves you naturally depressed and in a panic. All of those emotions are perfectly normal. I’ve lived through it myself. But, those feelings are not a true reflection of the technical aspects of your financial situation, but reflect your emotional state of mind.

When you suffer from money troubles the emotions are much more powerful than the facts of the realities and that leads us to feel very odd in many ways.

Update me in the comments section with the total debt you owe and let’s take this to the next step. Once we come up with a plan for you to implement you will begin to feel better.

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.


  • Dear Mr. Steve

    I’m so glad that i found your website, i have a question, can i still file a bankruptcy even thou those 2 of my credit cards already sue me?

    Capital One and HSBC sue me 🙁 and i was so depressed and stress because of this situation.


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