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Richard, Attorney
Category: Legal
Satisfied Customers: 53668
Experience:  Attorney with 29 years of experience.
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I was served a summons for $16K owed to Capital One Bank.

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I was served a summons for $16K owed to Capital One
Bank. They say it was 18K. I am an 80 yr old Sr.Cit.
on Soc.Sec. If I pay them it will leave me penniless.

Should I do a bankruptcy?
Hi! My name is XXXXX XXXXX I look forward to helping you!

Can you give me a bit more information on your financial assets? Do you have only SS income? What assets do you have? Thanks.
Customer: replied 3 years ago.

Hi Richard,

I have two small pensions totaling approx.$700. plus I have a 54yr.

old handicapped daughter with Soc.Sec.and I get appro. $500. mo

from IHSS for her care.

Thanks so much for responding. Then, you really have nothing to worry about. Both your SS income and your pensions are exempt and Capital One cannot touch any of that income or assets. If you owe the money, they could get a judgment against you. BUT, getting a judgment and collecting a judgment are two different things. Even if they go to the time and expense of getting a judgment against you, it will be uncollectible. That's because, as I said, your pension and SS income are exempt and they cannot touch it...either by attempting to garnish the income now or by trying to levy your bank account after it's been received. If that's all you have, then they will simply have an uncollectible judgment. You could file for bankruptcy protection and get this judgment discharged, but you don't need to do so. In the meantime, what you would want to do it contact them and let them know your situation. Whether or not they will actually pursue this to a hearing depends upon their assessment of the collectibility of a deficiency judgment. So, if you can convince them there is nothing for them to get, and that if they were to pursue a judgment, you would simply file for bankruptcy protection and get the judgment discharged—and even if you have no intention of doing so, it is still good leverage with the bank because they do not know whether or not you would… then it is unlikely the lender will spend the time and money necessary to get a judgment they believe is uncollectible in the end.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!
Richard and 7 other Legal Specialists are ready to help you
Customer: replied 3 years ago.

Hi Richard,

Thank you for your help. I do have one question . I own a 1974

Coach which is our home and a 2005 Toyota. Can they touch

these assets?

You're's my pleasure to help. Those would be exempt as well...the coach as a homestead exemption and the Toyota under the one car exemption up to a certain value which won't be exceeded given the age of the vehicle. :)
Customer: replied 3 years ago.

Hi Richard,

I need the California Superior Courts legal form in order to respond

to my summons mentioned above. Can you email me a copy of this

necessary form so I can prepare the letter you recommended?

Hi there. Each court system has their own forms. If you call the court clerk of the superior court in your county, the clerk will provide you the form to answer the summons you've received.

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