lemers718 Posted October 2, 2008 Report Share Posted October 2, 2008 I have a Capitol 1 charge off. This was charged off in June 2006. I had a balance due at the time of $2541.00. I was summoned in Jan. 2008 by a Law firm saying they represented them (they were trying to collect for some time). Their demands $2541.54 plus interest and attorney fees total $3903.35. This is the amount showing up on my credit reports. I was still in my finacial denial stage and ignored the summons. Well I dont know what happen in court but they never bothered me again. I just started getting letters and phone calls from another CA recently . 1) Can Capitol one (they are named as the Plantiff)still sue 2 years after charge-off? 2) IF they lost in court can they still charge me attorney fees? 3) When Does interest stop being placed on a collection account? Link to comment Share on other sites More sharing options...
Methuss Posted October 2, 2008 Report Share Posted October 2, 2008 1] Yup. The SoL in New Jersey for credit card debt is 3 years (6 years if the account is considered written)2] They didn't loose. If you didn't show up for court, you automatically loose and the judge gives them whatever they asked for.3] It doesn't. Now that it has been reduced to a judgment you have to pay interest at a rate set by the government (currently that is 5.5% but it changes each year as the NJ Treasury decides). And now that it is a judgment, they can go after you for the next 14 years, which is the statute of limitations on judgments in New Jersey. They can also levy bank accounts and your wages until the debt is paid and charge you for any further collection costs without any extra court action.Not showing up for court was a huge mistake. Link to comment Share on other sites More sharing options...
lemers718 Posted October 2, 2008 Author Report Share Posted October 2, 2008 But if there is was a Judgement wouldn't that show up on my credit report and why would another CA be trying to collect? I asked the new CA who their client was and they told me "Transtar" I dont know who that even is. Link to comment Share on other sites More sharing options...
Methuss Posted October 2, 2008 Report Share Posted October 2, 2008 Judgments can be sold to others for value. These are more dangerous for the consumer because once reduced to judgment, the CA doesn't have to go to court to levy bank accounts or garnish wages. That part of the process is already done.Your best bet right now is to attempt to settle this for less than the full amount. I strongly recommend, from your past legal mis-steps, that you pay a lawyer to negotiate a settlement for you. And then pay it prompty. If you cannot afford to pay a lump sum of any kind (even if it is half) then have your lawyer negotiate a structured settlement and pay the installments promptly and on-time. That way you know it won't come back to haunt you down the road. Link to comment Share on other sites More sharing options...
momof5 Posted October 2, 2008 Report Share Posted October 2, 2008 Chiming in here.....Call the courthouse. Find out if there *IS* a judgment. Who knows, maybe they didn't show up either (fat chance, but ya never know!) Link to comment Share on other sites More sharing options...
lemers718 Posted October 2, 2008 Author Report Share Posted October 2, 2008 Why does this still show up on my CR as a collection account not a Judgement? Link to comment Share on other sites More sharing options...
swirlgirl Posted October 2, 2008 Report Share Posted October 2, 2008 Do you have any public records? you need to contact the court to see if the judgment was entered against you. Link to comment Share on other sites More sharing options...
lemers718 Posted October 2, 2008 Author Report Share Posted October 2, 2008 I received a summon that I was being sued back in Dec. 07. It said I had 35 Days to respond but I never received a notice to appear nor did I receive and notice that a judgement had been entered. I do want to settle this afterall it is the last of my credit issues to resolve. All my other creditors were willing to work with me within my budget but these people turned down every payment offer I could make. Link to comment Share on other sites More sharing options...
momof5 Posted October 3, 2008 Report Share Posted October 3, 2008 Pardon me for getting harsh here....CALL THE COURTHOUSE! CALL THE COURTHOUSE!How many times do you have to be told?Sometimes LEXISNEXUS fails to report that you have a judgment so you don't end up with a public record on your CR...but that is RARE. Most often, if there is no PR, there is no judgment and the ONLY way you will find out is to check with the Clerk of the Court.Got it? Link to comment Share on other sites More sharing options...
lemers718 Posted October 7, 2008 Author Report Share Posted October 7, 2008 Thank you for the advise I called the Courthouse today and they told me that there was a Stipulation to dismiss filed by the Attorney. What exactly does this mean? Link to comment Share on other sites More sharing options...
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