I really need some Help Soc..............

[jolawanda]

exact date of charge off? or statement info?

Is the law office serving the summons required to give that to me if I call?

should I call them and ask for mediation for  a payoff amount?

I could give them 1K right now to call it even.

[socrateaser]

>exact date of charge off? or statement info?

The date of the first statement that you did not pay would likely be the date from which the statute of limitations would run. If that date is more than six years from the date of filing on you, then you may be in the clear.

However, if your contract with Capitol One was predicated on the law of some other jurisdiction (and it was, because they all are), then that jurisdiction's law may control. Most big corporations make their contracts subject to the law of the state of Deleware, because that's where they are incorporated. I don't remember off hand whether their statute of limitations is better for your situation or not.

That's why I'm saying there's lots of little gotchas here to research and I don't have time.

>Is the law office serving the summons required to give that to
>me if I call?

Not unless you give them a formal discovery request. And, to do that, you must first formally answer the pleading, which means pleading the statutte of limitations as an affirmative defense, or you will lose the opportunity.

>should I call them and ask for mediation for  a payoff amount?

No. You can write them a letter and state:

"Without admitting liability, I hereby offer $500 cash, payable immediately, in exchange for a release from all liability concerning the debt alleged in your pleading, and a dismissal of the pending action with prejudice. You also agree to remove any negative entries concerning this debt, from my credit record with all of the major credit reporting agencies (e.g., Transunion, Equifax, Experian, etc.). This offer will remain open until 5PM, 9/22/06, or until I formally answer the pleading, whichever occurs first."

Then see how (or if) they respond.

[jolawanda]

and said i was calling for a mediation on the account / summons. They claimed NV law was 7 years  for statute of limitations. I said NO it's no, it's SIX....they asked if i was being representated by a lawyer. I said NO, i have paid no retainer fees to any legal counsel and that I was representing myself pro se and that they were to respond to me accordingly as they would any law office. In a manner / language for me to understand. LOL..............
The dude did that as requested. LOLOLOLOLOL
I offered 800 bucks to call it all off, they said NO all interest and monies owed and legal fees would be 7682.23. I said go ahead and file the judgment cause that won't put any money in your pocket or your clients pocket. You will have to wait until I die, or some other means. He told me it would have to go to an arbitrator once I responded to the claim. I said, FINE, that person won't smile nicely on your firm knowing I offered a settlement and you refused and now here we are wasting the courts time now will they? evil grin.....................
So, when all was said and done.....We setteled while on the phone..........


I owe them 1285.00 DONE dealio..........period, suit dropped. I said fine and that once it was done, they were to remove the derrogatory info from my credit, which they agreed to also.
How did I do Soc?

[socrateaser]

>I owe them 1285.00 DONE dealio..........period, suit dropped.
>I said fine and that once it was done, they were to remove the
>derrogatory info from my credit, which they agreed to also.
>How did I do Soc?

If it ain't in writing then you got nothing, hun. Get it in writing. Even if you send them a check and they cash it, they can still come after you for the balance, unless you have a written release, using words substantially similar to those that I gave you.

[jolawanda]

asdfasdfasd

[Mamacass]

I actually work in a collections department for charged off accounts for a major credit card company.  We do not remove the info from a credit report when the account is settled.  The account is instead updated on your credit report to reflect that it is charged off and settled, and it reflects the balance left over after the settlement.  The account normally remains on your credit report for 7 years from the date of delinquency (usually 6 months prior to the date of charge off.)  
The only exception to this is when there is an error somehow on our part.  If you are disputing a charge, or the balance, call the cc co. directly.  In most cases, the agency handling the account only has authorization to collect, not investigate for fraud.  If you are disputing finance charges or fees, it is too late.  It may still be too late to dispute charges, since most companies require you to initiate the dispute w/i 90 days of the charge, but its worth a shot.  
Back to the credit report.  In talking to customers, I have heard that some collectors at agencies will promise to remove info from the credit report in order to get a payment.  The credit card company can't remove info early though (even for a settlement or pay-off) because then we would not be reporting accurate info.  We have to report all history fairly and accurately whether you are making payments on time, or not.  
Also, like Soc said, get it all in writing.  Make sure that you get the settlement offer in writing, and get a letter stating that the account has been settled.  You probably won't ever need it, but its good to have just in case.  

[jolawanda]

i haven't gotten the letter as he promised on the 18th. Sooo, I called him yesterday and he re-iterated that we had an agreement. I said...Sir, we have nothing until it's in writing and signed by a lawyer and I receive a copy. He said, yes ma'am, I apologize, I haven't gotten it to you and it w/ be mailed tomorrow. I said if I don't have it by Friday, i w/ file w/ the court to appear and they won't be happy with the law office being the one to *waste the courts time*.....snicker:::::::::

[socrateaser]

>I actually work in a collections department for charged off
>accounts for a major credit card company.

You sound like a great resource. I'd love to pick your brain. Maybe we can write a book on how to negotiate with credit card companies.

Anyway, you may be misunderstanding the difference between a settlement and a release.

A settlement is an agreement/contract to resolve an actual litigation. It can be accomplished by a party agreeing to pay some amount of consideration/money in exhange for the other party's agreement to request a voluntarily dismissal of the action with prejudice.

A release is an agreement/contract to free someone else from liability for some obligation in exchange for consideration/money.

If a debtor agrees to pay a creditor $1,000 in exchange for the creditor's agreement to drop the lawsuit, then that is a settlement.

But, if a debtor agreeis to pay a creditor $1,000 in exhange for the creditor's agreement that the debtor was never liable under the original debt, that is a release.

And, the difference is titanic. The settlement gets the debtor out from under the debt, but it does nothing to clear his/her name.

The release voids the original transaction, making it impossible for the creditor to claim that the debtor was ever in debt.

Getting back to your statement that your company will never correct a credit record unless you made a mistake, the release creates this exact circumstance. If your company agrees that the debt never existed in exchange for money, then you are not misrepresenting someone's credit record if you remove your negative entry on grounds that it was a mistake. Because, under the terms of the release, it WAS a mistake -- the debt never existed.

Most times, both a settlement and a release are entered into. If correctly written, the agreement will dismiss the lawsuit, and void the original debt, which will REQUIRE the creditor to correct the debtor's credit record to positive, because under the terms of the release, the debtor was never in debt, thus the credit report was a mistake, and must be removed, or the creditor can be sued for false credit reporting.

If Ms. Jola does as I suggest, she can force the creditor to fix her credit record, or force the credit reporting agency to remove the entry. How do I know?

I've done it before.