Another judgment question!

[bubbles0605]

Can I PFD a judment from cap1 in 2004? Or should I fight it b/c I was not served?

[Anonymous]

when it comes to matters involving courts, first step is to consult an attorney.

I would recommend asking an attorney how to vacate or dismiss the judgement.

[Anonymous]

If it's someone local, well, a softer approach may be warranted, but if it's Cap1, they've hired someone who hired someone to serve something, and they didn't but said they did. They do this to lots of unsuspecting people, so if you sue, you are suing for more than yourself. I'd get an attorney. Remember, these CAs have made a ton of money on people who just paid them for the junk debt they bought because they didn't know to make them prove their ownership of the debt and the correct amount.

[Anonymous]

I would suggest getting a copy of all the paperwork from the court, which will include how you were supposedly served.

Then find out what "proper service" is in your area.

Go from there. If you were not properly served, you may be able to have it vacated.

[Anonymous]

Just remember though, if you DO have it vacated it's essentially just "dismissed without prejudice" -- meaning, if the debt's not paid, they can easily refile the suit.

So, personally, if you can get it vacated AND if it's still within SoL, I'd pay the stupid thing ASAP in order to avoid a refile.

Cap One is notorious for suing on COs.

FTR, there's a post here somewhere where I posted a "leaked" document from Cap One how much they'll settle for after X years.

*searches for old post*
Here it is!

[valley_man0505]

Hi Wonderin--I have seen your post before regarding the CapOne settlement amounts vs. time.  Do you have any idea if the reported percentage is the percent of the ORIGINAL charged off balance, or if this is the CURRENT balance?  CapOne has added almost $3000 in interest/late fees to my balance since they charged it off almost 5 years ago.

Also, back to the OP's question regarding trying to PFD in return for vacating the judgement--can this be done?  I have a recent judgement and I am trying to find ways to convince the CA to vacate the judgement somehow.  Can they choose to vacate for any reason, or do the courts require them to have specific reasons for vacating a judgement?

[Anonymous]

I have the same problem with capitol one.  I have contacted an attorney and plan to sue.  I was never served but court papers say I was served in person, at an address that I had not lived at in over 5 years, I do not even own the property anymore.  I will keep you posted as to what the lawyer says and how it turns out.

[Anonymous]

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@valley_man0505 wrote:

Hi Wonderin--I have seen your post before regarding the CapOne settlement amounts vs. time. Do you have any idea if the reported percentage is the percent of the ORIGINAL charged off balance, or if this is the CURRENT balance? CapOne has added almost $3000 in interest/late fees to my balance since they charged it off almost 5 years ago.

I wish I knew the answer to this, but I don't. The "leaked manual" didn't specify. All it said was "charge-off balance" -- hopefully, that means it includes the interest and other crap they tack on.

I will say one thing, though. Their only other choice (so to speak) would be to just write it off with the government as a P&L (in which case, you would get a 1099 for the "extra" income of having the $$ and not paying it back). If they write it off like that, they're not allowed to write off the interest, only the principal. 

I'm not sure how that affects you ... my brain is still waking up at this point. o_O 

Also, back to the OP's question regarding trying to PFD in return for vacating the judgement--can this be done? I have a recent judgement and I am trying to find ways to convince the CA to vacate the judgement somehow. Can they choose to vacate for any reason, or do the courts require them to have specific reasons for vacating a judgement?

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The court usually requires a specific reason for a vacatur. However, paying the debt before going to court or simply paying the debt, period, could be considered a reason. It's up to the plaintiff, AFAIK. In order for the vacatur to be successful, it should really be on the behest of the plaintiff.

[bubbles0605]

Wonderin,

Can anyone tell me what I should say when i call to set up a settlement. I want to pay the least possible?? thanks

[Anonymous]

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@bubbles0605 wrote:

Wonderin,

Can anyone tell me what I should say when i call to set up a settlement. I want to pay the least possible?? thanks

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As I'd see it, you have two choices:

Vacate the judgment on the basis of improper service (depending on your state's civil procedures). Pay debt IMMEDIATELY afterwards (unless debt is out of SoL) to avoid a refiling (since a vacatur is simply "dismissing the case without prejudice," leaving them open to refiling).


OR

Pay the debt NOW (via settlement) and then seek a vacatur on the basis of improper service (again, depending on your state's civil procedures). No worry of their refiling if you've paid the debt, obviously.

Both scenarios kinda depend on your ability to get a vacatur (sounds OODLES easier than it is) in order to get it off your CRs.

I don't see Cap One, out of the lovely kindness of their hearts, filing for a vacatur themselves -- whether or not you pay the full balance. I think if it's been since '04, you could offer them 40% and start negotiating from there.