Subpoena, Judgment, and settelment, what do i do?

[k50aker]

Hi I recently received a letter from a law office that states the following:

Re: Original creditor: Chase Manhattan Bank

Creditor: Metro Portfolios, Inc.

Account No. ********

C&S File no: *****

Index No. ******

Balance due as of July 13 2007 $1700.62

Dear Mr. …..

Enclosed herein you will find an information subpoena with a questionnaire requiring you to provide answers to a number of questions and also to produce certain documents and records.

Alternatively, our client Metro Portfolios, Inc. has authorized us to offer you a special 60% lump sum settlement of $1020.37. If we receive this settlement amount on or before August 10, 2007, you r account will be deemed settled in full by our client, also any judgment or lien established by this debt will be satisfied.

We urge you to take advantage of the settlement opportunity that our client is offering to you at this time so that this matter may be settled. However failing same, we will require you to respond to the subpoena and questionnaire provided herein and also to provide us with the requested materials, which include, among other things, tax retunes for the past three years and your current pay stub, we look forward to hearing from you.

Very truly yours

Cohen & Slamowitz, LLP.

Now here are a few facts and questions about this account, it was a chase credit card that was unpaid in about 2001; there is a default judgment from January 22 2007 for the sum of $1631.43.

On my CR it appears only as a public record item, since I have disputed the collection item several times till it was removed

Now here is another catch, it was filed in Kings County NY where I resided at the time (2001), but for the last 2 years (that includes the time the judgment was filed) I live in Rockland county NY, is that a difference??

And another question, is there a way I can threaten them with vacating the judgment in order to achieve a better settlement, since I don’t recall being served with any papers?

And is that settlement they offer any good?

What would be a good settelment to offer?

I know these are lots of questions, but please someone help me, before the time runs out.

Thanx all the great people of CIC!!

[swirlgirl]

Hi, click on the above link for "Vacating Judgments." If you are completely sure that you never received any notice asking you to come to court, you can file to have the judgment vacated yourself based on not being served. Then, investigate the SOL on this debt. If it's past the SOL, that's another reason you can give the court to justify vacating the judgment.

I just checked and it looks like the SOL is 6 years in NY state. You'll want to look into getting the official DOLA.

I would not contact the CA or their lawyer before you've done all your research and have enough stuff to justify getting this vacated.

[k50aker]

the SOL in NYS is 6 years, however it has not passed 6 years since the date of default (about nov. 2001) till the jugdment date (Jan. 2007), i dont remember receiving any court papers, i am almost cretain that i can vacate it, the question is if i should rather not bother vacating, and try to settle the deb.

[swirlgirl]

I would file the papers to get the judgment vacated first. Because they didn't serve you properly, you will owe nothing on the judgment. Vacating the judgment will wipe it off your CR.

By just paying the settlement, you will get stuck with a "Paid Judgement" on your CR for 7 years.

So, vacate the judgment first, and then discuss doing a settlement later. Your first priorty is to get the judgement off your CR.

At the very least, you may be able to get the CA to agree to vacate or dismiss if you agree to the settlement.

Whatever you do, decidede soon. With a judgment in hand, they may be able to garnish your wages.

[k50aker]

Whatever you do, decidede soon. With a judgment in hand, they may be able to garnish your wages.

ha ha!! if they count on garnishing my wages, they are doomed!! no wages and no bank accounts on my name no house or cars on my name... but thats just for now, i dont know whats goona be in the next 7 yrs...

And about vacating, does the fact that they filed the judgment at a county i resided in 6 yrs ago make any difference?

[unusualsuspect]

It may be too late to vacate the judgment. Generally you have 6 months or less. After that, its valid.

Also, vacating doesn't mean they will go away. I got a judgment vacated-- I was served with the same lawsuit before I left the court room!!

[k50aker]

It may be too late to vacate the judgment. Generally you have 6 months or less. After that, its valid.

Also, vacating doesn't mean they will go away. I got a judgment vacated-- I was served with the same lawsuit before I left the court room!!

I think that in NY you have 2 years, does anyone know better?

and after i vacate it, cant i start a DV process?

[CarolinaBlueEyes]

If I am not mistaken in NY you have street service or something like that.. which means they can serve you at the last address you have (even if its years old) smack it on a door and your are considered served.. a friend of mine calls this Sewer service,, they never have to see you ..

[k50aker]

so i guess il have to settle with them, any one have any good strategies?

[tomtastic25]

The good news is that you should be able to settle for about 50 cents on the dollar. I would take advantage of the offer. Otherwise it will linger on your report for years likely. And the debt is yours I assume? I am not trying to be rude or mean, but what comes around goes around. Take it for whatever it is worth to you. If you rip people off. ( The credit card co do it to us like crazy, late fees, high intrest ect.) It ussually comes back to bite us.. I would settle, and get on with your life. Do get them to write paperwork explaining paid in full debt settled may not sell to other company's

If it goes to court then you will have att fees or have to represent yourself not fun either,. The judge would probably side with the creditor anyhow. Good luck.