I couldn't work any payment arrangements out with Capital One Credit Card & they haven't recieved no money from me for several years. I now recieved a notice in the mail today that they are garnishing my wages at 30% every 2 weeks when I get paid. Can they really take this much? I only work part-time (for medical reasons) as it is & am struggling to pay my bills since I have to pay my parents $300/month in order for us to keep our house as my dad is recieving pernament disability & my mom is unable to work as well but have no income coming in. Theres no way I can pay $500 a month in bills when I only bring in about $600 a month if they take a total of 60% of my pay? Is there anything I can do or can they legally this amount even though it would mean me & my parents would loose our house & be homeless? I do live at home with my parents, I'm 23, they DONT consider it as me having a house payment due to me having to pay my parents & not a bank & since the house is not in my name.
2007-05-21 13:24:15 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes they can legally do that. I would go to court and file a motion for installment payments. You will probably have to go in front of a judge, but any payment is better than paying 30 percent of your pay.
2007-05-21 13:28:32 · answer #1 · answered by jlentz0530 3 · 1⤊ 0⤋
The only way they can garnish wages is if they sued you. Did you forget this, or did you not show up? It depends on the state how much they can take, but I'm sure Capital One's lawyers know this.
Also they only consider what you are legally required to pay. Money to your parents does not count.
2007-05-21 18:40:14 · answer #2 · answered by Zzyzx 4 · 0⤊ 0⤋
Yes, they can take that much. The fact that you HELP your parents is not relevant to the amount of money which can be taken via garnishment. Sad to say, unless you can make different arrangements with Capital One, you are stuck with the results of the garnishment action.
Perhaps you would not be facing such a scenario if you had not ignored their requests for money for two years ?
2007-05-21 13:41:24 · answer #3 · answered by acermill 7 · 2⤊ 0⤋
Were you sued and didn't show up or something? If you haven't been sued, then they can't garnish squat. If you have, go in front of the judge that issued the judgment, and present your case as to your distress, and be prepared to tell him/her why. Bring your budget should the judge want to see it. Probably the judge will reduce it. If that doesn't work, change jobs and move your checking account to another bank/town. That will buy a little time.
2007-05-21 13:37:12 · answer #4 · answered by steve.c_50 6 · 2⤊ 0⤋
Im confused.. You say they are taking 30% but then you say they are taking $500 of $600 total. 30% of $600 is roughly $200. I'd say they could take 30%, but not 80%.
2007-05-21 13:31:23 · answer #5 · answered by Eric A 3 · 0⤊ 0⤋