Capital One is suing me!

Maybe I'm missing something here. What is exactly "validation of debt". I mean I can understand disputing a charge with a company or something but basically you should (maybe this is where I'm confused) know how much you owe. Please explain what this accomplishes other than basically a stall tactic which I'm gathering it is. I thought about being a lawyer at one point but public speaching was not my strong point and I'm not good at studying crap I find uninteresting. I understand stall tactics ...lawyers and big companies do it all the time. So now the little guy/gal tries it guess its not all bad.

you shouldn't be a lawyer.there are enough ignoramuses as lawyers already.they don't need another.validation isn't a stall tactic.it's the law.your opinion is noted and we don't really care.

well Paul I'm glad my opinion is noted and you don't care. I'm gonna just ignore the moderator. Validation may be the law I just asked what its purpose was.

Guest 7590, the purpose of "validation" is to make sure that the debt is yours, you can read some post on this site where people have been sued and bank accounts emptied because a lowlife collector simply stated that a debt was theirs but had no proof.

ok I can understand that you would want proof of a debt if you didn't know it was yours. Thanks

you can also dispute the actual debt amount as well.example

you have a capitol one card
it charges off at 1250.00
the JDB wants you to pay 4850.00

you have every right to have them explain how they came up with that figure as once a debt is sold whatever terms were in place by the original creditor are moot.so that is another part of validation.

Basically from what has been said about validation I'm kinda gathering it is more or less pertaining to 3rd party debt collectors. I say this only becuse I'm a 1st party collector and I can see someone's payment history or a years worth anyway. I've been calling people now for quite some time and I really don't like the job but in hard times you do what you got to do and in the most secure job if that is possible. Do I like the pesky calls..NO! do I like the pay..not really but then again I like something better than nothing. I don't have a capital one card...I used to but I didn't like the spending limit and cancelled it. All total I have available 40-50K in revolving credit with a total balance on cards of about 3K and paying them off as fast as possible. Those of you able to pay do so quickly those who can't well I wish you the best of luck getting back on your feet. Good luck to everyone!

this is all terribly confusing. still haven't received any debt verification from the attorney. seems odd to me just because i only have 30 days to respond to their requests from me. it's been about 2 months. meanwhile, i only have a few days left to respond to "the big packet" aka "discovery" (i think). the court date which was supposed to be 3/2, has been moved to 4/27 since they are waiting on "discovery" from me. the lawyers starting calling me again last week. they left voicemails wondering if we could "work something out". wondering what to do at this point...

Moneyhelp, well you've asked for what you want if they want to work something out tell them you want validation as you requested and oh btw if they say its being taped say something to he effect I don't auhorize taping of my calls and refuse to say anything till they say they have turned any recording device off and have them repeat this through out the call.

I've read through the links posted here and I am learning...slowly:) Since Cap One's lawyers have failed to provide verification/validation of the debt (requested in December) can I file for a motion to dismiss? I am in NJ if that helps...

I just got a letter from Lyons in Mt. Laurel saying I was being sued by Cap One. I called them right up and was able to make payment arrangements, but they said they just might go ahead and get a judgment against me, which they will not enforce unless I am late with a payment. I got into this mess when my wife got breast cancer. I had always been on time before that. It's pretty ugly.

that's a common tactic for them, chroma601. it is so shady, i hate them so much! they had the nerve to garnish someone's wages while on disability! and it took over a month for them to fix it and reverse charges!

Should I contact the court even though I've made arrangements to pay them?

One more thing. We had seven credit cards, three of them Cap One. We were doing fine until my wife got breast cancer. Some of the cards worked with us at once, others offered settlements.

But Cap One was evil, they just came right after us with lawyers and threats. I would have worked with them, but no letters, nada, then POW! You are due in court. No other card was so awful to deal with.

Anyway, please see my thread Spiraled Out Of Control, and best of luck to the OP here. I accept my debt, but a little compassion for a family dealing with cancer would have been nice.

Im here for ya heres a hug! i know what your going through my mother had breast cancer twice. She really has nothing left. Its hard to deal with. heres a *hug* from me to you!

Cap One does not care period. They hire attorneys in your home state to collect and anyone who is behind on them may as well get ready to be threatened and taken to court. I talked to their collectors before all this court stuff came up and they wanted $150.00 each a month for cards that started out at $500.00 each. there was no way I could pay this much a month and told them so. They quit calling and turned it over to a debt collecting attorney office. I have answered their summons two months ago but have not rec'd anything from them lately. Not sure what is going on. I did ask for validation because I was not sure if a bottomfeeder paid them to sue me or what. I never did get a DVL on one of the cards. A friend in banking advised me that these people are the worst company to have a credit card with.

Amen to that.

Would some kind soul please have a look at my thread, Spiraling Out of Control? I have a Cap One attorney suing me even though I have an arrangement worked out and I have a few questions there at the end of the thread. Thanks...

i was just told by and attorney that cap one has different companies and that they do have a collection company

We were contacted by three separate companies, each of them quite distasteful. Lyons is proving to be the worst, planning to obtain a judgment while I have a repayment plan going.

I just had an experience with Capital One today that I thought I'd share. My original monthly payments were $60 and I was making no progress toward paying off the balance. I was unable to pay one month and tried to work with them to not charge me a late/over the limit fee, all to no avail. As it sometimes does, time got away from me as I kept putting off making a phone call to them. I received notices in the mail, even received a certified letter. I was still too afraid to call, tried to do everything by email but they weren't biting.

Capital One sends me a $50 gift card (to be activated when I call to make payment arrangements). I'm so broke, $50 is a good deal. So I call and get their collections department. At this point I haven't made a payment in four months and my account says it is in danger of being charged off and/or going to court. The collections department basically says there is nothing they can do for me bc I can only afford to pay $50 a month and they need $427 to make the account current (but still closed). Anyway, the lady transfers me to a manager. I tell the manager the truth, that I had major medical bills ($7800, actually dental) and that I fell behind on everything. I tell him I want to pay this off but I can't promise more than $50 for the next 90 days. He says I should qualify for the hardship program so he transfers me there.

I get to the hardship department. They don't ask about my income or other bills or anything like that. They just asked if I had a major medical expense in the past month. I tell them no, but I've had one in the past 7 months and I'm still not caught up. The lady I'm talking to reviews my account, which is being charged at 23% interest and incurring $39 worth of late charges and $39 worth of over the limit fees each month. After she spends a few minutes literally talking to herself (very nice lady, though), she tells me that she can change my credit card account into something like an auto loan account. My interest was reduced to 7% and I was given a payment plan of $52 for the next 5 years. There will be no more late/over the limit fees because this account now operates as an auto loan. Strange, I've never heard of or encountered this.

The phone number I originally called was 1-800-955-6600. This was the number to MRS Associates (the collection team at Capital One). These are the people who activated my $50 gift card, too.

Hope that offers some help, I was getting very worried about this account, hoping it would go away if I avoided it. Glad I finally called them.

Might be helpful to inquire about the hardship program, I simply can't believe how easy it was when I remained (politely) insistent that I just could not afford to pay more than $50 a month no matter what action they took (legal, etc).

Good luck!

I wonder if when she said it was "like" an auto loan, that she meant it was an installment account versus how a credit card is considered?

Now let me get this straight ... you owe $427.00 to pay it all off, right? And their hardship program offered to you was to pay $52.00 per month for 5 years ... quick math here ... $624.00 for one year, and that makes $3,120.00 for 5 years. Do I have that all right? I could have the math wrong, but doesn't that make your interest $2,693.00 on a $427.00 balance? Sounds worse than a payday loan to me!

1 800 955 6600 connects you to collections for cap 1 and depending on which company has your account coded to it they get the call (India,pakistan,carribean and oh Internal otherwise located in Richmond Va) If you hear a slight southern accent your probably talking to Cap 1 itself. The payment plan is pretty good and if you actually pay for 60 months equalls about 150% of your current balance....but if you buy a house its more like 215% to 300% if you pay the min payment. NOTHING says you have to limit yourself to the min.

I should have clarified, sorry. The actual balance I owe is about $2500. I am behind in payments by $427 and I would have to come up with that money to make the account current, which I can't do.

is that with keeping the card, or is that with closing it out completely?

The credit card account is considered closed. By paying as agreed, Capital One will report to the credit bureaus that I am current with my payments. The lady said that if I miss one payment, the original terms of the card (23% interest, etc) will take affect.

will the account show on your credit report as "settled", or "closed" or what?

Closed and paying as agreed.

as long as it is not negatively affecting your credit, I see that as a fair deal. Yes you are paying a bit more, but they have spread payments over 5 years, and at a very low interest.

Do you have the option to pay an extra $10 or $20/month to get you finished quicker, or do you have to stick by their 5 year schedule?

They told me that I do have the option of making extra payments with no penalties, and to do that would save me money (interest) in the long run. I think they gave me a pretty fair deal but it's too bad that it couldn't have happened before the "120 day late" time frame.

it is too bad it was in the wrong time frame, but i agree it is a fair deal :)
alot of the banks and credit card companies are losing money anyway so it really is in their best interest to try to work with us. i have no idea why more of them do not realize that (though it seems more are seeing the light)

after waiting since december for debt verification, last week i finally received a response. a copy of ONE previous bill from capitol one. no payment history or anything else that i requested on my answer form. instead, the copy of the bill was accompanied by a motion to dismiss in their favor. is this legal? it took approximately 100 days to get a response and they still weren't able to provide everything i asked for. can i file a motion to dismiss?

i would motion for it.they gave you nothing that is validation.in their favor?please,motion to dismiss with prejudice.

Inflammatory post deleted - Watch your mouth - ND

I have a judgment against me awarded in an OR court in the amt of $900. It was a Capital one credit card account turned over to a debt collectiion attorney. I was a student at the time with a very low income and, long story short, legal aid told me to ignore the court summons, etc citing that my going to court would just add on to my bill. Well, I tried to negociate with the debt atty's office for a lump sum pay off and also almost had a suitable(affordable) payment plan till at the last minute other terms were added to the docs to be signed by me. What I need to know is how to safely and correctly pay this judgment. It is now up to $3000+ with interest and legal costs added by the court. I want to make sure the correct party is being paid. My credit report shows judgment of $900 awarded to (no name) an address that is the attorneys location and Capital one being the creditor; also there is a separate listing for Capital one that covers a page and a half listing the bill at $3000+. I have limited funds to work with and am trying to do this right. Are both the attorney and Capital one trying to be paid for the same debt? Please help if you can.

My biggest gripe is they dont speak english very well. I cant understand a thing they are saying. I tell them my situation, unemployed, losing my house,etc... I say that when I can get on my feet and get a job I will gladly contact them (which I would do) and then they say,,,,So we can expect a payment, or, we can charge the account assigned to this card. What dont they understand,,,I dont have the money to pay right now !! I ask for a manager, and get the same thing... Question,, Didnt the government just give a big bailout to many of these companies?? Thats what we need, A bail out to the American people.
Pat

Had a message on my cell phone from National Attorney Network; said it was an investigator and if I didn't respond I would be sued and be served legal documents in the county that I reside. Plus - they would go as far as contacting my employer. Isn't this illegal? I haven't returned the call.

Quote:

lyons, velduis, and ?....NOT SUING FOR CAPITAL ONE!! you can bet debt was written off by capital one. Lyons is a collection agency using legal status as a "strong arm fear tactic" ASK FOR DEBT VALIDATION.....YOU WILL GET NO PAPER TRAIL- INSTEAD YOU WILL GET CAPITAL ONE'S NAME, AND A $ FIGURE - AMOUNT IS ANYBODYS GUESS . DON'T ACCEPT JUST ANY RESPONSE - EVEN ATTORNEYS NEED TO PROVE YOU ACTUALLY OWE, ASK FOR CONTRACT YOU SIGNED WIT CAPITAL ONE FOR CREDIT, ASK TO SEE DATES OF PURCASES, ETC....

i received a summons through maryland district court with capital one bank as plaintiff, lyons, dought, veldhuis representing. i'm trying to determine if this was an assigned acct since i pulled my credit report and cap one charged off the debt in dec 09. the affidavit provided with the summons includes a notarized declaration of the acct # and amount owed as of 11/09 and signed by a supposed officer of cap one on 5/10. the signature page of the summons is blank with a date of 6/17/10. sloppy paperwork generic agreement is attached with a date of 2005 and no specific terms
the acct was opened in 2002

I am a victim as well. I am currently being sued by CapitalOne lawyers for an amount larger than my credit limit and can't believe it. Are there any lawyers or organizations who specialize in matters such as this?

How can you be a victim? You had a credit card, didnt pay and now are being sued. This is how credit and business works.

Your balance is larger due to accrued interest and late fees plus the court and legal fees that are being added on.

To Kayart...Capitol One rarely sells their accounts...the fact that Capital Ones name is on the summons with the attorney representing them is a good indication that Cap One still owns it.

SOARPLADY know the whole story first, all i'm asking for is assistance not an opinion!

I did not give you an opinion....I gave you fact as to why your balance is higher than your credit limit. Unless Cap One or their attornies have broken the law, there is not much an attorney can do for you that you cannot do yourself. Are you disputing anything?? Do it in writing?

I just got off the phone with a guy who kept referring to Cap One as his 'client'. I kept trying to nail him down on who he worked for but got no where. He was very persuasive but only offered the 3-4 month plan, way more than the 4 years I would need. So I am pretty sure it has been 3 years since I paid on it. I lost my job and went on disability and am pretty sure they can not garnish me, but he said I was wrong. Anyone know the real story? I figure I would almost prefer a garnishment anyway since they can only take so much... I need some facts. Thanks.

They cant garnish SSDI, but can empty any bank accounts with a judgement UNLESS you can prove ALL funds are from SSDI which are therefore exempt from being taken

Quote:

When you get a court summons make sure you show up or they will get a judgement and garnish your wages. My origin credit limit was $1000 it ended up being almost $2000 with interset and fees. The first time i met with a judge and the lawyer representing Crapital One. I told them i was willing to pay the $1000 i owed them and that was it. The lawyer said thats fine but i would also have to pay all Cap ones legal fees for suing me. I refused and in a few months received another summons,went to court and told the judge that i disagreed with this whole credit scam and was willing to pay what i originally owed $1000. SEing i wasn't going to back down their lawyer accepted the $1000 and they ate the legal fees, don't back down and don't show weakness!

STAY AWAY FROM CAP ONE! They hold your check to accumulate late fees and those fees put you into over limit fees and guess what? YOU have to pay it! THAT is against law now thanks to Obama
Prior to new credit card laws in place - CAP ONE racked up my debt to be $5000 MORE than what I originally owed WHILE I WAS MAKING MIN PAYMENTS ON TIME! Like bailing out water from a sinking boat. I had to claim bankruptcy only because of what CAP ONE did
You're the criminal Mr capital one.

[SIZE=3]:(Capital one employee, in the year 03 about every week I'd get an envelope from Capitol One. I'd ask myself, "Why do I have a new Capital One credit card detriment in my mail box. Let???s see what it says. You have 5k in credit just call to activate and I only make 20K a year. I'm 18 at the time and need money so sure I used it. I thought Capital One would never prey on the weak, knowing / or wishing that I'd max my card out (along with 100,000 other kids) and have no way of paying the minimum payments. Oh no, What to do. I get screwed (along with most of the other capital one customers). But look, it caught up with them. Capital One along with A few Select banks pushes the country into recession (That's why you work at Capital One in the first place). Brian, they are what???s wrong with America. Its corporate greed that drives them to hurt everyone they deal with, even the employees that so valiantly stick up for them. It stinks; you are forced to work for them due to a job shortage. Look they get a bail out. We get sent up the river without a paddle. Thank you for your time. [/SIZE]