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New CA took me to court !


jrdejavux
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Hello guys a new CA served me around two months ago and today was the first court hearing. They have the OC statements and all my information. The trial has not been set as the judge gave us sometime to settle off court. I offered half and he said he is cool with that. Now what do I need to make sure they don't sue me again for the other half ? and what is the best way to send payment ? thanks

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Hello guys a new CA served me around two months ago and today was the first court hearing. They have the OC statements and all my information. The trial has not been set as the judge gave us sometime to settle off court. I offered half and he said he is cool with that. Now what do I need to make sure they don't sue me again for the other half ? and what is the best way to send payment ? thanks

I'm assuming this account is within your states guidelines for Statute of Limitations?

Well, at any rate you'll want a contract drawn up stating that once paid, this accounts status will be listed as "settled in full." You will want verbage that states they WILL NOT come after you for the remainder and will not sell or otherwise assign the remaining debt to anyone else-that this account will be "closed" and completely "settled" once the agreed upon amount is paid. You must receive copies of this and if it were me, I'd send a copy to the three credit bureaus when I went to dispute the tradeline.

Keep in mind, if it's beyond a certain amount you'll need to remember to wait for your 1099 for taxes next year. Either way, be careful of whatever you agree to. Don't agree to anything that isn't in writing and ALWAYS review any settlement offer they've made...I can't state this enough, READ the contract you're signing CAREFULLY. Don't accept any offer that isn't in writing.

And be careful...they may try to get ya to do a "paid judgment" sort of thing and if that's the case, there's no point in paying a DIME. They may as well continue with their suit because paid judgments are harmful to your credit, it looks as though you didn't work things out with them--ya know? It looks like they had to garnish or something.

My personal suggestion? Carefully review this site's "settle debts" article. It is listed towards the top of these pages to the upper left hand corner of the "Orchard" card ad in blue writing. Read them over...that'll help.

JMO.

Elyse

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Thanks for the fast reply and yes this account still within SOL by 5 months

=(. At the hearing they showed the judge what they had as proof of this account being mine which included all my personal information Social Security number and a full list of all the transactions made to that account. I of course denied this as being mine since there is no signature but still the judge told me i need to prove to her this is not mine and there is no way i can do that ! so thats why im willing to settle out of court

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jrdejavux, I'm planning to do a little debt settlement myself - I'm certain I'm going to get at least 2 or 3 1099s and I estimate it'll be in the neighborhood of $2-3k. Ouch.

I am adjusting my withholding down to 0 claimed to help me at tax time next year.

(*not tax or legal advice...just detailing what I plan to do.* ;) )

<snipped>

Keep in mind, if it's beyond a certain amount you'll need to remember to wait for your 1099 for taxes next year. Either way, be careful of whatever you agree to. Don't agree to anything that isn't in writing and ALWAYS review any settlement offer they've made...I can't state this enough, READ the contract you're signing CAREFULLY. Don't accept any offer that isn't in writing.

And be careful...they may try to get ya to do a "paid judgment" sort of thing and if that's the case, there's no point in paying a DIME. They may as well continue with their suit because paid judgments are harmful to your credit, it looks as though you didn't work things out with them--ya know? It looks like they had to garnish or something.

My personal suggestion? Carefully review this site's "settle debts" article. It is listed towards the top of these pages to the upper left hand corner of the "Orchard" card ad in blue writing. Read them over...that'll help.

JMO.

Elyse

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