lawsuit drop, Capital One, very strange conversation with lawyer

Posted by Octomom (64.12.96.205) on September 09, 2003 at 11:36:14:

I posted a couple of weeks ago with questions about a pending lawsuit by Capital One on a debt that was now $9,000 ($3600 original principal and the rest interest and fees). After looking at all of my options (SOL, etc.), I called the lawyer who was representing Capital One. We discussed a settlement offer. I told him of our situation and told him the most I could pay is $2500. He said he would discuss this with the client and get back to me. He called me this morning. Said that the client has decided to close the account and take it back from the lawyer's office. I asked him what this meant for the lawsuit and he said they aren't pursuing it any longer and are closing the case. He is going to send me a letter stating this. Have you ever heard of anything so strange?! Why wouldn't Cap One accept the settlement and then close the case? Why would they just close it and end the lawsuit? The lawyer specifically said "the client is not going to pursuit this any further". Is it possible that the lawyer (actually a collection agent) did not fully offer the settlement and after telling the creditor my situation, they decided it wasn't worth pursuing? What other explanation for this could there be?? If it is true... that the account will be closed and the lawsuit dropped, is there any way of one being started again because I verbally offered a settlement (nothing in writing)? This debt SOL expired 8/02 (they began the lawsuit 5/02).

Octomom

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