Capital One Judgment Consent?
Date: Fri, 11/05/2010 - 19:20
I spoke to the paralegal that is assigned to my account at Morgan and Pottinger today. I told her that I would not be able to just drop the full amount ($5,360), and I would be better off making payments. She said they would accept $175 payments (which I can do), so I agreed. She is sending me judgment consent papers, which will basically say that I have to make this payment by the 15th each month, and that if I do not pay, they can get a judgment against me. I don't own any property, so no lien will be placed against my property. My question is: should I sign these papers? Should I still go to the court hearing? If I sign the papers and send a copy to the court, can Capital One come back and screw me? I would truly appreciate any advice you could give!
They are getting a judgment against you....one with stipulations
They are getting a judgment against you....one with stipulations that you will make the payments and they will not pursue other actions (garnishment or bank levy) unless you miss a payment.
And yes, you need to show up in court!
There are many reasons for not admitting to a debt because credi
There are many reasons for not admitting to a debt because creditors will try everything to get your money. They don't care about you. If they get you to claim a debt that was, for example, past the statute of limitations to collect, by your acknowledging it then you have restarted the clock on the SOL and now they have many more years to hassle you about it.
Talking to creditors is risky business as they will lie and tell you anything to separate you from your money. They are financial predators and pathological liars.
Yes, you need to go to court. If they want to collect they need to PROVE that you owe the debt and that they are entitled to collect it. DO NOT sign any judgment consent papers. You're doing their work for them. If they wanted to offer you a settlement for a reduced amount and there were something in it for you it might be different. But without any benefit to you its entirely in their favor. Don't be intimidated, you need to stand up for yourself. These predators count on scaring you into doing things that are contrary to your best interests.
