@Anonymous wrote:
I was being sued by capital one in previous posts. So I hired a lawyer to help me out. My lawyer appeared in court for me and told me he believed they didn't have proper documentation and we would win the case. After 1 month they folded and sent my lawyer this Voluntary Dismissal with Prejudice. I know that my case is over and I will never have to pay them anything. However with this document is there anyway I can have the charge off removed from my credit reports?
On another note. I can't say how thankful I am for this board and everyone's information. So far I've saved thousands. My credit score is closing in on a 100 point increase on every CB. Thank you everyone!
Not to rain on your parade, but Cap-1 can sell this debt and the JDB can proceed in any avenue they deem worth while including filing suit. I would assume that if Cap-1 didn't have proper documentation that the JDB would not either, but that doesn't mean they can't try. In addition, the "voluntary withdrawal" of a lawsuit by the plaintiff even with prejudice does not "discharge" the record of the debt, it just discharges the suit, so Cap-1 or the next JDB has no need or requirement to remove the correct reporting of the debt to the CRA's. Had you received a court ordered dismissal with prejudice you would be free and clear as far as debt collection and would have a good case for having the account removed from the CRA's since the court found you "not guilty" for whatever reason. I should add that in most cases, most JDB's will not sue to recover debts that have been previously "dismissed or withdrawn" in court, but I would closely watch this account to ensure it goes to SOL before you break out the champagne.
Further, since Cap-1 can not sue again on this same debt-account, if the amount is over $600, expect to get a 1099-C which means you have to pay (owe) taxes on the write off as regular income (there are exceptions such as you are insolvent which waive the "income" as taxable).
