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Hi guys, not sure if anyone can help , I have recently been approved for a d.r.o last month and I had a credit card with capital one, I've just received a letter telling me I have a default, it's very confusing as it says no active n will be taken as I am on a d.r.o, yet it also states that action will be taken in 28 days out of terminating my contract, putting it on my credit file or enforce the provisions of the contract? I'm worried sick my d.r.o will be cancelled or I will goto court and I don't know what this means. Help please
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Re: Stressed out with worry
Hi Lilpinkkitty, welcome to LB.
As far as I know, if the credit card debt is included in the DRO, you should be ok.
I must admit that I don't know too much about them (DRO's), but I'll give [MENTION=48934]Debt Camel[/MENTION] a nudge for you.CAVEAT LECTOR
This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)
You and I do not see things as they are. We see things as we are.
Cohen, Herb
There is danger when a man throws his tongue into high gear before he
gets his brain a-going.
Phelps, C. C.
"They couldn't hit an elephant at this distance!"
The last words of John Sedgwick -
Re: Stressed out with worry
That sounds like a confusing letter. Capital One can't take ANY action to enforce the debt or ask you to make a payment during your DRO year, and at the end of it your debt will be wiped out.
They can send you a statement about your debt. They can mark it as in default - but the default date should be on or before the date your DRO started. They can sell the debt to a debt collector, but then the debt collector can't enforce it.
I suggest you don't worry at all about this. It is VERY unlikely Capital One will take any action and if they do, it's easy to get it stopped.
They cannot get your DRO cancelled.Comment
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