Please Help! ARS Collections and Citibank LawsuitThreat.
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Posted by Paul (67.122.206.236) on February 19, 2004 at 03:02:28:
Hi i'm in desperate need of help. Got a letter from a lawyer representing Citibank threatening a lawsuit for my debt of $12,500. here's the rest of the story. (oh yeah, i live in California) Last August, ARS National Services(representing Citibank) offered me to settle the debt for $7,500 out of the $12,500 and i had to make a good faith payment of $400 and make a decision to take the offer by the end of August. I make the $400 payment and call ARS a week later to confirm that i want to accept the $7,500 settlement. The rep told me that Citibank took back the file. i call Citibank and couldn't get through. Here's the peculiar thing; between September 2003 and February 2004, i didn't get any type of letters or any phone calls from Citibank or any other collection agency, until yesterday. They offered a settlement of only $11,000 instead of the $7,500 that was offered in August. Here's my questions (1) Is there anyway i can still settle at $7,500??? I think i lost the settlement letter from ARS. (2) I need to stall time. If i refuse, how soon will there be a trial??? Can i make the payment between now and the lawsuit trial??? (3) Don't know that much about judgements. How bad are judgemnts for my credit rating compared to bankruptcies. If they seize my wages, how much do they exactly take?? Can they seize my bank accounts?? Thanks Paul
pkdvd@hotmail.com
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