I owe Capitol One about $7000 divided into 3 cards, I live in CA and I know they can place a judgement and garnish my wages up tp 25% until my debt is paid, I am the sole provider for my family and 4 people depend on my check, I called a credit consolidation comany by the name of CESI and I don't know what to do, the guy asked for my SS # right away and said there is a fee of $49 to activate my account and that this is a one time fee. Is there anything I can do to stop the garnishment are lawyers more expensive to hire? If anyone can help me with this question I would so appreciate it. I am willing to pay but between my expenses and what I make I can only afford like $70 a month to be able to pay this off and I just don't know what to do! When I called the collection company directly they guy laughed at me and said if thats all u can pay save your money we will sue you, they gave option of monthly payment but will not take anything less than $150. Thanks in advance
2007-10-06 14:08:25 · 4 answers · asked by lolita 5 in Business & Finance ➔ Credit
Talk to that credit consolidation guy. Pay the $50. You aren't getting any gas with $70 a month. I know a family of 4 is a big job. Whatever the guy tells you to pay, you pay. That is the best option for you. If you want me to help you budget, I sure wouldn't mind helping. Just email me your income, and expenses with due dates. Your last resort would be to file bankrupcy. It will stay with you, so do your research first. Actually, check out
www.clarkhoward.com
the guy knows his stuff and the people on their forums do too.
2007-10-06 16:06:27 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Lawyers can't stop a garnishment and only a few are working bankruptcies now .
If your finances are not too complex , bankruptcy may be your option .
$70 a month would never pay off because the % charge is more than that .
I am surprised they would accept $150 .
Actually your interest payments are at least $145 ,
So $150 would have you paid of in maybe 50 years .
May be best to wait for them to take you to court and prove you are supporting 3 children by yourself ( or 2 kids and a terminally ill person ) .
Or go for bankruptcy .
>
2007-10-06 14:20:20 · answer #2 · answered by kate 7 · 1⤊ 1⤋
i don't believe consolidation companies, they charge for something you an do for free, plus Ive heard stories on news, about these companies taking advantage of people most of the time,if you talk to your creditors,let them know whats going on, and let them-know you intend on paying, now I'm not sure how true it is, but as long as your sending something, they cant sue you?now you said there's four of you there,id say its time they start lending a hand!!!!!!!!!!!!go apply for social service, someone there ought to be eligible, or go talk to your churh?I'm not sure how ca. is but Michigan has a lot of avenues to find help!!!!!!!!!!!!!!good luck to you my dear, god bless you , and keep you safe
2007-10-06 14:31:17 · answer #3 · answered by debbie d 4 · 2⤊ 0⤋
if you keep talking to them on the phone, then try and record their conversations so you can sue them back for FCRA Vilations at 1000.00 a pop. Otherwise send them a letter
to cease calling you. Read thru webiste creditinfocenter com
2007-10-06 14:20:30 · answer #4 · answered by Anonymous · 2⤊ 1⤋