Hi,

I'm in FL and I was served by a processor for a the outstanding balance on an Capital one CC. "in the sum of $1208.66 that is now due with interest at the rate of 23.1000% since 11/26/2009." I know that the debt is valid and I attempted to make arrangements with the 3rd party collector but they would not negotiate and I couldn't afford the terms. I had planned to pay off the debt with my tax return which just arrived. I have been working very hard to improve my credit and I was able to settle with 2 other creditors but my credit score suffered. I was wondering if anyone could advise me on the least credit damaging and financially draining way to handle this situation. Do I call their lawyer and pay off the debt or answer the summons and go to court?

Also, does the statement "in the sum of $1208.66 that is now due with interest at the rate of 23.1000% since 11/26/2009." mean I owe $1208.66 or does it mean I owe $1208.66 plus 23.1000% interest accrued?

Thanks!