Last Friday I went to court with my wife at my side and Capital One received a judgment for the full amount owed plus court costs. We paid $2000 last Friday and are looking at doing $1500 in January and the remaining $1500 in February. We should not have purchased the wood stove until this was resolved and are paying for it dearly.
In addition, we have 1 large debt that I've been ignoring from a foreclosure a few years back, but now don't want to have the same problems I had with Capital One. They sent us a letter recently offering a payment plan or settlement amount. I called them and have setup a monthly payment plan of $275/month through April and we're going to do everything in our power to take care of it in April through settling with them. It took a 1/2 hour to convince them I could not do a settlement and that I wanted the monthly payment plan written in the letter they sent. I'll be updating our net worth statistics to reflect this debt and the true balance of the Capital One.
We also received 2 letters about medical debts that are still outstanding with them offering a 50% discount for the next 60 days if we pay it off. Once we are closer to January, we will look at our budget and see if we can fit them in. Our original hopes were to have this all taken care of by the end of the year, but it looks like it will be closer to May of next year.