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Expert: John Hall - 6/22/2006


Question
I fell behind on a $2,800 line of credit with Citibank. It was turned over to LTD financial services. They made many different settlement offers, if I would agree to pay the debt. I'm waiting for a property to sell, and told them I fully intend to pay my entire debt (not settle) but cannot pay for 30-60 days. They strong armed me into agreeing to two bank drafts of $1400, and told me to just call a few days before if I don't have the money- it wouldn't be a problem. I told them at that time they were forcing me agree to this, and there was no way I would have the money.The lady said she just had to put something in the system to satisfy it.

 I called them a week before the first draft, and told them I could pay $400, not $100. They accepted.  A few weeks later (this week) they called, and a Supervisor was very irate, saying citibank was going to sue me because I had lied to the credit collectors about agreeing to the two drafts which I didn't follow through on. As of now, they say if I don't pay 25% of the debt ($795) by monday citibank will proceed and sue me. I am within 30 days of having the money to pay off, but don't have it now. Should I contact a lawyer? I understand their need to collect, but I haven't  

Answer
Don't pay them a dime more.  You have alternatives here, and most of them DON'T involve paying these ungrateful people.  Call me tomorrow if you like.  I will not charge you just to talk on the phone.    661  492-2673      and stop payments on those drafts if you can in the meantime.  what I have in mind you may be able to get back some  of the money that they have already taken.

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John Hall

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Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.

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FREE BANKRUPTCY HELP. If you are being sued, if your home is being foreclosed, or if you are being harassed by bill collectors, filing for bankruptcy may be a quick and inexpensive solution.. The mere filing of a bankruptcy will operate as a federal court order (it is called an automatic stay) to stop all bill collection efforts, including lawsuits that are pending or ongoing. Bankruptcy is a legitimate way to meet your problems with debt head-on. The bankruptcy law is designed to give you a second chance to make a new start without the psychological and financial burden of pressing debts that you are unable to pay. Depending on what state you live in and what your assets are, it is very unlikely that you are going to have to lose anything if you file for bankruptcy, and this is something that you can do immediately without having to pay the $500 to $1,500 attorney fees that most attorneys charge. Also, you might be surprised that you can file for bankruptcy and that it will not have the devastating effect on your credit that most bill collectors describe. Life is too short to have all this anxiety over losing your car through repossession, getting evicted from your home, or losing your home through foreclosure. Bankruptcy law was designed to give you a second chance. I will not charge you just to talk on the phone. Call me at 432 853-5711, or send me an email at j_h14@hotmail.com with your telephone number, and I will call you back.

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