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Should I sign CHASE action to 'discontinue" ?


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I was sued by CHASE thru Forster & Garbus (NY) on a cc debt.  But there has been no follow up for a long time.  I even did a search on NY's  Webcivil site where all the info is there for all cases under party name or docket index number and the case is no longer listed there.

 

I read on 'American Banker' and WSJ that CHASE was caught committing fraudulent collections and had ceased all collections. 

 

Now I get this letter in the mail from Forster & G.  asking me to sign an ''action'' and it states:

 

''It is hereby stipulated and agreed, by and between the undersigned the attorneys of record for all the parties to the above entitled action,  .....the above entitled action be, and the same hereby is discontinued, without costs to either party as against the other.  This stipulation may be filed without further notice with the clerk of the court.''

 

Should this be the end of it?    I don't know that they're going to automatically remove this from my credit report or that in the future CHASE won't pursue again if it's charged off.  Should I send my own statement requesting that?  Maybe their letter and action is enough for me to use to clear it from my report and I don't have to worry about them doing that.  ?? 

 

I don't want to push my luck if they're letting me off the hook. 

 

Thanks for all your help. 

 

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You could file a motion with the court to dismiss with prejudice. What this letter states is that they are asking to dismiss without prejudice.

If the case is dismissed with prejudice, that means they cannot sue you again and you can probably get it removed from your credit report. If the case is dismissed without prejudice, that means the case is simply closes, Chase or its assignee can sue you again, and you probably will not be able to remove it from your credit report.

Now there is a cost to file a motion to dismiss with prejudice and it is possible that you will not get it. The odds of Chase or its assignees suing on debt like this is small and even if they did, there is doubt that they will be able to produce any paperwork to prove the debt should you fight it. Therefore, the only reason to try to go for a dismissal with prejudice is if you want to remove this from your credit report quickly. If the debt is already 4 - 5 years old or older (which most of this paperwork issue debt is), then it will come off in a couple of years anyways.

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Thanks 'WhoCares1000' !  What you said makes sense. 

This is going into it's 4th year.  But NY state recognizes the SOL of the cc issuing state and that means instead of having to wait 6 years for it to reach SOL--it's 3 instead.

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Do you mean that the DOFD was 4 years ago or this suit has been going on for 4 years.

In either case, they can sue you again but the SOL has run out which means you now have an affirmative defense should they try to sue you again. I would almost say that unless you plan on borrowing a ton of money in the near future (buy a house for example), that you just let the dismissal without prejudice go through and then wait at the most 3 - 4 years for this to fall off of your credit report.

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Do you mean that the DOFD was 4 years ago or this suit has been going on for 4 years.

In either case, they can sue you again but the SOL has run out which means you now have an affirmative defense should they try to sue you again. I would almost say that unless you plan on borrowing a ton of money in the near future (buy a house for example), that you just let the dismissal without prejudice go through and then wait at the most 3 - 4 years for this to fall off of your credit report.

 

I guess I should have been clearer. They CAN sue you again but they CAN sue anybody they want really. When I said they can't sue you again I meant that, if they did, it would be a violation of the FDCPA.

 

I should have said they couldn't successfully sue you again. Suing on a time barred debt is a no-no.

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