First thing is to make sure you show up in court.
Relax, they have to prove in court it is yours and most lawsuits with Cap One do not have proof. Most times all they have is a screen copy of the debt. No signatures, no contracts, nothing
Now the most important thing is-----
What is your states statute of limitations? What was the last date of delinquency? If it has been over the SOL date then they cannot collect it.
I am assuming Illinois is 4 years but there is an out!
Do you still have your Cap One bills from 2006? On the back Cap One made a huge mistake in the wording on it.
I do not have one to explain it but on the back it states something about the statute of limitations is based on Virginia law. If you statements state this then you are going to beat them with the proper information.
** Virginia law statute of limitations for a credit card is 3 years **
Cap One is getting beat all over the country with the defense that their user agreement states Virgina law applies.
If so, check out your last date in 2006 and add 3 years to it.
If it is over 3 years they cannot collect this debt no matter what.
If you are still in the date range then do not worry, you are unemployed and have nothing they can collect on like garnishments of your wages.
Do not be scared, do your research, look up lawsuit vs Cap One, research statute of limitation laws for your state and also see if you can find an attorney to help you since you are unemployed and probably low income enough since you are unemployed to qualify for an attorney for free.
Find those statements! They are important.
As far as bankruptcy goes, it depends on the amount of your bills, surely you would not be filing bankruptcy for 3000.00.
You stated you live with a relative so there is no home to file Bk on.
How much debt do you have? Do not file bankruptcy unless you have a ton of debt and are getting sued
for them, why? because you will live with it for years more ( 10 years ) from now.
My advice is this, people need to stop jumping on filing bankruptcy so quick without thinking about the below information.
You said it was from 2006. If the Illinois statute of limitations is 4 years then you are getting close to that date.
*** No debt can be collected on items past the statute of limitations **
And if you can make it past the 4 years time without more lawsuits hitting you then you will have it made.
Why file bankruptcy on debts that are 4 years old? That would be stupid.
They can only be reported for 7 years starting in 2006 and removed in 2013. If you file BK it will be on your credit report until 2019!
Why add 10 years to your credit file when it will be gone in 3 more years?
Also, get your attorney generals office involved. Last time I checked it was Lisa Madigan ( May have changed since I checked?). She was huge on going after collectors who broke the laws in collecting from consumers.
Start making notes of how this collector contacted you, dates and times, phone calls etc. Keep all letters etc.
* If you get any letter from any debt collector you must file a dispute letter by mail with them within 30 days or it is considered yours as you did not dispute it with them. So answer all letters coming in.
Something tells me that Cap One hired them because they know your states statute of limitations is coming up soon and they want to get money before it is to late. What they do not know is your defense may be that Virginia laws applies!! 3 years - not 4.
There is a great website out there that tells you how to deal with debt collectors, it is Bad Credit Loans FAQ:
. Its not just about loans, it has a section of debt collectors and credit repair.
Once you get past the lawsuit and the SOL dates you might want to consider starting credit repair and getting negatives removed from your credit file for having errors on them. The website above deals with that also.
Post about the statements. I hope you have one.