My question involves collection proceedings in the State of: Florida
I took out a quick cash loan for 1500 dollars about four years ago from Corporate America Family Credit Union. I wasn't able to pay on it for a while, and it racked up interest and brought the total up to 2000 dollars. The collections company (CU Recovery in Minnesota) has been calling me. I have been paying 75 dollars a month for the last several months... the total is now down to 1302.00 They said that they wanted at least 150 per month and I told them I wasn't able to do that, so, they stopped sending me payment notices and I stopped paying on the debt. I went to the post office and checked the mail... I got a letter stating: "Please pay the entire balance of your account within five day. Failure to pay in full may result in this account being forwarded for further review to determine whether this account should be pursued through litigation." The letter is dated 05-02-08.
So, I have a few questions
Firstly, do you think it's likely that they would take me to court over this issue? I'm wondering if they are just using this letter as a scare tactic, or if I need to panic. I've called them a couple times and keep getting the voicemail.
If so, would I have to fly to Minnesotta, or would they do it down here?
Also, I just moved and haven't gotten my license address changed yet... what if they serve a summons to my old address and I don't live there anymore? My license and all papers from the debt company have my PO Box address, but I don't think they serve summons to PO Boxes... is there a place I can go to to check if one has been issued?
Thanks for any and all help you can give!