Re: citibank charged-off account

Posted by Anonymous (204.0.73.200) on May 10, 2002 at 15:58:32:

In Reply to: citibank charged-off account posted by Peter on May 10, 2002 at 00:05:19:

I would not reccomend filing bankruptcy. As a bankruptcy lawyer, I recommend it only when it is needed for a specific purpose such as to stop constant harrasment or to allow for reorganization of debts. You sound like you only have a debt hanging out there. Even if they sue to collect, you do nothing and they obtain a judgment - so what. If persistent and potentially sucessful collection activities begin - if you are at risk of losing your home, vehicle etc. - then you may want to file. I seriously doubt you would find yourself there given the time that has passed. Having a bankruptcy on your credit report is far worse than a written off debt or even a judgment. Most people do not realized that bankruptcy is not easy or cheap, it involves mych more than signing some papers to file with the court - never do it unless you absolutely have to.

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