Long story short, had a credit card that we were using to live offf of back in 2008. Got behind on the payments when work got scarce. The Balance at that time was around the limit of $2500.00. After missing several months of payments, during which time we lost our house, our truck engine blew up & we had to move, Capitol One adds $2000 approximately, in interest.
We then moved long distance to accept work in Southern California, I set up automatic payments with Capitol One of 450 dollars per month. We started having trouble with our bank account due to a new practice by the local gas station to hold 3 x the amount of transaction when you pay at the pump.
We were unaware of this practice & it caused tremendous amount of headaches and financial expense to figure it out. I had to stop the automatic payments, to avoid additional charges on our account. When I tried to re-set the auto payments the bank wouldn't allow me to do that.
I contacted Capitol One, my account had been turned over to Legal Recovery Law Offices. I contacted them to make payment arraingments. They were not willing to accept $50.00 per month payments, they wanted $100, per month.
I explained to them our situation, that we were barely getting by & collecting food stamps to do it and that $100 was more than I could afford. They threatened me with a lawsuit, which they ultimately followed through with & won a judgement in the amount of $4,143. I didn't have the money to fight them or gas to get to the court house.
Finally getting back on our feet and trying to pay off our old debts only to find that now they want over $7,000, willing to settle for $.80 on the dollar @ approximately $6100. Quite a racket if you ask me!!