At the end of 2010 our business had failed and we

At the end of 2010 our business had failed and we were left with over $100,000 in credit card debt plus a morgage on our business property. We sold our home and used the net to settle with our business credit card companies, about 20 in all. With what cash we had we figured we could pay each one no more than 35%. We did settle with all but one. A $14,000 Capital One card, which they wouldn't settle and has been turned over to First Source. They call several times a week and want more than 35%. Problem now is that we used their portion to pay medical bills (wife had cancer), also settled with hospital. Any suggestions on what to do with this one?

2 Answers

We are retired and are drawing social security. Advised against bankrup. because of our assets, ie: stock,iras and a cabin we shared with kids. We now own the cabin.


You probably should have researched this one before paying anyone out....capital one rarely settles for less than 50%.  They are very agressive and routinely sue.

Hind sight is 20/20 but if I had been in your position, I would have filed bankrutpcy and saved the home.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 6 and 0


Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV


Page loaded in 1.093 seconds.