Stipulation of Discontinuance

[arana]

PLEASE HELP ME WITH MY QUESTION... DON'T KNOW WHAT TO DO!!!!!

I owe $17,000 on a credit card. I made an agreement to pay it back, I made a lump sum payment and then I made 2 or 3 payments to them.. I was unable to continue so I stopped paying them. Months later I received a summons in the mail, wrong dates. I ignored it. Now I received a letter from them saying Enclosed for your records, please find a fully executed Stip of Discontinuance. The original stip has been sent ot the court for filing. Another paper says: Stipulation discontinuing action without prejudice.

I don't know what to do??? Should I contact the lawyer?? I'm scared to call them??? WHAT DO I DO?????

 

[tpajet]

Well a stipulation of discontinuance means they are stopping action that that collections, but without prejudice means it hasn't been ruled on in court, meaning they can file that case in court again. So it sounds like they are going to re-file a lawsuit against you for the remaining owed.

The big question is did you contact them and tell them you could not pay or did you just simply stop paying? You need to call them and try to work something out, otherwise they will file the suit, and they will win since you defaulted on the payment terms you had, and they will then get a judgment against you. What happens this is kind of a gray area. They can simply accept the judgment and then it's up to you to pay. If you fail to pay, then the court can collect later if you come into a large sum of money. You also wouldn't be able to purchase property.

The other route would be they get the judgment and the court either seizes assets or garnishes your wages. Either way, it's better to try to work something out with them out of court because you will have more options. But keep in mind they don't have to agree to any terms. They can tell you pay it all or we'll see you in court, but it's still the better way to start.

 

[arana]

Thanks 4 replying: Why did they stop the action to begin with? I made a few payments and then I stopped and did not make a few payments (don't remember how many I missed - maybe 3 or 4) and then I did contact them and said I cant make the payments, can we work out some other agreement. They told me no. They said since you defaulted a few months ago, you now owe that up front and then also continue my payments. I am not able to pay this???

 

[arana]

why... Stip of discontinuance

Why did the credit card company stop the action of collections??? I don't understand????

 

[arana]

Is there anybody out there??? Please I need some advice????

 

[army judge]

Is there anybody out there??? Please I need some advice????

A Stipulation of Discontinuance without prejudice is an agreement by all parties to a lawsuit to dismiss the matter. The way this is written, implies you agree with the dismissal. Yet, you've never even met these people. We'll get back to all of this in a minute.

Okay, I'll try to help.

I have a few questions first.

Was the card only in your name?

Is NY your state of residence?

When did you originally default on the credit card?

When did you agree to the payment scam?

Was the payment scam with the original creditor or a bottom, feeding credit collections "scammer"?

To what entity did you send the payments?

What name (company) is on the Stipulation of Discontinuance?

About how much of the debt did you repay on the payment scam?

How long has it been since you stopped paying and received the "stip"?

Are you fully employed?

Have you filed a bankruptcy in the last 7 years?

Are your other financial affairs current?

Are you active military?

Back to the Stipulation of Discontinuance without prejudice, my advice, do not sign it.
Why would you agree with these people being allowed to sue you at a later time?
For the time being, don't sign it.
Why cut your own throat?