Capital One suing in small claims court, need advice

[Guest rocketc]

I need your help. Capital One Bank (OC) is in the process of suing me for an unpaid credit card balance of $1,841. The card was opened in April of 2010 (according to my credit report). I have not made a payment on the card since mid-2011, after I lost my job (still unemployed).

I have not been served officially but have received two letters from separate law firms advertising assistance with bankruptcy and debt settlement. From these letters I've learned that I will be served within the next month, and then sued in small claims court locally here in Calhoun County, AL.

I would love to make payments or pay the entire balance, but I am not in a position to do so at this time. I have not requested DV. I have been reading here and will continue to do so. From what I've gathered, arbitration doesn't appear to be a viable option.

I am just looking for someone to steer me in the right direction as to a plan of action. Thank you for your help in advance.

[racecar]

Alabama Unified Judicial System -- judicial.alabama.gov Edited October 27, 2012 by racecar

[BrunoTheJDBkiller]

Arb may work, they didn't remove it until I believe November of 2010. If it was in your original agreement it may have a survivability clause. Linda7 will know, she is our ARB expert.