How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask TexLaw Your Own Question

TexLaw
TexLaw, Attorney
Category: Legal
Satisfied Customers: 4164
Experience:  Lead trial/International commercial attorney licensed 11 yrs
17219180
Type Your Legal Question Here...
TexLaw is online now
A new question is answered every 9 seconds

I took help from Consumer Debt Help in Jan.2011. I fell behind

Resolved Question:

I took help from Consumer Debt Help in Jan.2011. I fell behind on payments to Capital One Bank, and my Care Credit Card through GE Money Bank. At that time my Capital One was $10,854.54. My Care Credit was $3,868.87. I had to go to court last week for a summary judgement against me. Now I owe $11,046.68 to Capital One. I am sure I owe $1,000 more to GE Money Bank. I have been advised not to talk to my creditors, so have always ignored the phone calls. I have a good friend willing to loan me $10,000. I told Consumer Debt I want to be debt free, its too hard going on like this. I have been paying them $216.99 a month since Feb. I have paid a total of $1,952.91. With the fees taken out I $1,330.91 in my acct. Consumer Debt wants me to put the $10,000 into Noteworld Bank and they are going to try to settle these Debts. I am willing to do that, but can I be sure Capital One and GE Money will get the money? What can I do to make sure they do?
Submitted: 3 years ago.
Category: Legal
Expert:  TexLaw replied 3 years ago.
Hi,

I know that dealing with consumer debt is very stressful, especially in times like these. When you fall behind, it makes it doubly hard with all the calls from the collectors.

In your situation, your creditors, such as Capital One Bank, has secured a judgment against you.

When you hired Consumer Debt Help, what they agreed to do is basically settle your debt for you. They are professionals and are able to accomplish this. However, they do take a fee for their services. They are holding the money that you pay them in their account and when the creditors finally agree to the settlement, they will take the money from the account and pay the creditors.

At this point, you have several options. If you give the $10K to Consumer Debt Help, you cannot be assured that they will pay Capital One with it. They will most likely put it in their account and then try to settle with Capital One for a smaller amount. They might possibly be able to use the entire amount you've deposited to settle with more than one of your creditors.

See:
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre19.shtm

If you want to make sure to pay off Capital One, you can call them yourselves and tell them that you want to settle the judgment amount for a flat $10K (or less) and see if they will take your offer.

However, since you've already hired Consumer Debt Help, you are probably best off handing the money over to them and letting them continue trying to settle the debt, as when they have a larger sum they are more likely able to get the job done.
TexLaw, Attorney
Category: Legal
Satisfied Customers: 4164
Experience: Lead trial/International commercial attorney licensed 11 yrs
TexLaw and 14 other Legal Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    19941
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    8189
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/jespoag/2008-12-17_222355_jessepic.jpg JPEsq's Avatar

    JPEsq

    Attorney

    Satisfied Customers:

    2132
    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • http://ww2.justanswer.com/uploads/gsenmartin/2008-04-22_214950_me1.jpg Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.

    Attorney

    Satisfied Customers:

    110
    7+ years of experience handling various legal matters.
  • http://ww2.justanswer.com/uploads/PA/PaulmoJD/2013-10-10_195858_JAImage.64x64.jpg Law Educator, Esq.'s Avatar

    Law Educator, Esq.

    Attorney

    Satisfied Customers:

    31621
    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    15975
    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
 
 
 

Related Legal Questions