last month i got served from ca attorney.
i filed an answer with the court;
so the lawyers requested from the court that the case be delayed 90 days; and then sent me interogation questions and settlement agreement for lower balance.
i checked my credit report and that capital one account is not on my report; however i decided to contact capital one directly ;and they did confirm that i owe the money and that northstar acq owns the account now. so i figured if capital one is backing them up; then i had no chance of winning the case.
since i can't afford a lawyer i decided to accept the settlement agreement and i sent the payment last week.
the check was cashed by them on 9/30/09;
how long should i wait for them to dismiss the case or judgment in court, since they received the payment.
how should i proceed now.
thanks much
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Did you get things in writing between you and the people you are dealing with saying you will pay the debt back? If they cashed the check / money order, do you have a copy of it or a receipt of the money order. From my understanding, if they cash the check / money order they have made an agreement with you that they will accept that amount each month.
Get everything in writing and fax it to them and then send it certified mail.
i do have an agreement letter from them that i send with the check; which i have as a proof. also their agreement states that they will drop the case; i also sent copies of the agreement and the paid checked to the court just in case. all sent via certified mail and return receipt
i am going to give them few more days and then send them a certified letter reminding them the case needs to be dropped. i am just looking for more insight. thanks
Then you have done everything right. Have you heard from the court stating the case has been settled? Did the bullies give you a stipulation? The check you sent, was that pay off or are you on a payment plan?
the check was a pay off for a lump sum and it was cashed on 9/30 last week; so i guess they need some time to file for dismissal before i hear from them.
Make sure that the settlement amount was to be applied as a "PAID IN FULL" of the debt! When you settle, you have to make sure you have that in writing, if not, they can always come back for the remaining balance.
The Restricted Endorsement:
Normally you add a section of fine print to the back of the check stating "Cashing of this check constitutes your acceptance of my restricted offer. Any and all future claims for this debt are null". You can also add a notation on the front that says "restricted endorsement: cashing constitutes agreement". Don't send these types of offers to lockboxes because it will never be seen. That is why it is very important to send the offer first then follow up about 20 days later with the payoff. This way, the collection agency or creditor had plenty of time to reply to the offer with a yea or nay.
luv; thanks for the info; however the settlement agreement and the payment were sent last week and the payment was accepted on 9/30; now i wanted to know how to follow up to make sure the case or motion will be dismissed by the CA in the court. can i file anything in court stating the case has been settled and i would like that case closed? or the CA has to do it since they filed the motion in the first place. thanks