Legal Question in Credit and Debt Law in Missouri

Hi,

I got a credit card from capitol one, with a $500 dollar limit. Now, the balance is close to $1200 dollars. I want to work out some kind of payment plan, but they will not accept that. Their representative told me that I need to pay the full balance within the next two weeks, or I will be going to court. What should I do? Should I go to court?

Thanks,

Charley


Asked on 11/27/09, 5:21 pm

1 Answer from Attorneys

Anthony Smith LawSmith

You might be able to fight the case in court, but it will take money. If you win, the other side will not have to pay you back for your legal fees, But, your card agreement probably says that you will have to pay their resonable attorney fees. You should look at your card agreement. You might be able to make them take the case through arbitration. The are advantages to doing this, or not, depending upon your specific situation. Consult directly with an attorney in your area, who can look at all your documents. They may be able to explain the advantage of admitting a smaller judgment amount at the answer docket call. Many attorneys offer afree or low cost initial consultation.

Good luck

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Answered on 12/02/09, 7:56 pm


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