Citicard Sears offer

[hankhill]

Picked up the mail today and found a settlement offer from a company that Citicard Sears VISA had hired (or sold the debt to, I'm not sure how that works).
My heart dropped. Does this mean we are getting close to being sued? We stopped paying CC's in June and are planning to file in either September or October. It all depends on how fast we can get the rest of the money together.
Any comments appreciated, thanks.

[tcreegan]

not sued for cc

Hi Hankhill,

I doubt you are going to be sued anytime soon. This is usually the first shot for the debt collectors. Even if they do sue you, it is easy to drag out the process until you file BK.

Don't fret over the cc, work on your BK,

Tom in Colo

ps: list both Citi and the debt collector in your BK. Who knows if they sold the debt or not, listing both covers you in either case.

[brokejoker]

We recieved settlement letters 6 months to a year before only two of our CCs sued us. There should be a date you have to respond by on the letter - usually 2 weeks to a month. That alone will take you into September. Plus, if they do sue, you'll have 30 days or so to respond and you can just file BK in that time period.

[hankhill]

Thanks! Sets my mind at more ease.