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Let me get this straight... If you have received a 1099-C from the OC, and have asked the credit union to verify the details and it came back as verified and is still listing a balance that is not 0; file a lawsuit and have fun with it?
Question: How does carrying a balance over a long period of time affect your score? So lets say Joe Credit has a $5000 line of credit and is never late, always pays at least the minimum at 35$, but not much over the minimum and therefore total balance is carried over a long period of time vs Sally Credit who is making $500 monthly payments a month and pays off the line of credit within a year? Would this count against you has a "Slow payer" or would it only count against your score in the debt ratio calculation at the time your credit is queried for credit?
Tomorrow morning I need to appear in court again as Capital One has sued me for about $2K. The first time I was in court, I filed an answer to the compaint and told the Judge I was not familiar with this account. So she postponed mediation until CO attornies can provide me with evidence that it belongs to me. What they mail me was a bunch of statements. However, the last statements balance is less than the amount I am being sued for. So my question is, should I call the balance into question?? Should they have to prove how they calculated this balance to the penny, including any late fee, interest, etc. ...and would they have that to prove that I agreed to these terms? My point it, I just don't think they have a signed credit agreement on me. So would that work in my favor? Also, in the even I decide to settle in pre-trial, ...what %age can I get away with? I was thinking to offer $0.10 on the dollar.