I am going through a divorce and the debt has been

I am going through a divorce and the debt has been placed under my name. My husband isn't willing to pay the debt, and I can't find a job (I'm 51 years old) to make a payment of around $9000. I just received a collection letter from NCO Financial Systems that asks to make the full payment to Capital One. What should I do? I would like to settle for around 30% of the debt balance.

4 Answers

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You are "going thru" a divorce?  Has it been finalized and has the decree assigned the debt to you yet?  Was the debt originally in your name?

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I agree with the advice given by Savion! Negotiate with your settlement agency and tell them about your credit crunch. Be humble so that they agree to settle your debt and allow you to pay an amount that is actually less than what you owe.


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Another thing is that you should not first let them know that you are agreeing to get the settlement at 30%. First talk to them about your financial hardship and see till which limit they are agreeing to settle. Try to settle a bit higher.


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Hi Nina,

You should first ask the collection agency to validate the debt. Unless they validate the debt, you shouldn't make any payments to them. Once they have validated the debt, you should inform them about your financial crisis and offer them a settlement. If you can convince them about your financial problems, they may be ready to settle the debts.

Take care.

As I'm not a lawyer, I believe that "A lean compromise is better than a fat lawsuit". :)

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