CitiFinancial & Collections

[jwmc1]

[QUOTE=ace13;343391]it's an unsecured personal loan owing about 7800.

I have noticed that these unsecured personal loans seem more apt to be acted upon by the creditor, but that's just me. My wife had $8,000 due to B of A on a credit card and we heard nothing, she had a personal loan with HFC/HSBC with $2,000 outstanding and they filed suit and got a judgement.

[justbroke]

I would take Citifinancial's threats seriously...

Exactly my experience. They don't play! Lucky for me, they filed the complaint with my name totally butchered. It was never served.

[Scott50]

heres my experience with Citifinacial after three months of nonpayment.. received a a letter from a local law firm indicating that they were considering filing suit against me on behalf of Citifinancial and that I should contact them ASAP to discuss payment. The following month I received notice that a suit was filed against me.. I had to file an answer with the court in regards to the suit.. I filed CH13 a week before my case was scheduled to court... I would take Citifinancial's threats seriously...

[ace13]

Not if it was the obligatory 5 dollars "membership fee" that they require for their customers. The CU where we have our second mortgage never touched the 5 dollars we had in the checking account we were required to open in order to get the HELOC when I filed. It was explained to me by the bankruptcy department that if the money in the account was the opening deposit, they can't take it. No exceptions.

Thanks for the info and my 5 bucks is in a savings...doubt that part matters...it is still an open account.

On another note I just got another call from CitiFinancial demanding full payment by tomorrow!!! That was the message left on my VM. Of course the caller didn't state what consequences would follow tomorrow's nonpayment. I'm curious what will happen next. Possibly a lawsuit?

[anime-chicka]

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans


Careful there. If that Five Dollar account has the ability to be overdrawn, they can and may legally do so to the highest limit.

Then you have, potentially, larger problems.

Not if it was the obligatory 5 dollars "membership fee" that they require for their customers. The CU where we have our second mortgage never touched the 5 dollars we had in the checking account we were required to open in order to get the HELOC when I filed. It was explained to me by the bankruptcy department that if the money in the account was the opening deposit, they can't take it. No exceptions.

[ace13]

What type of loan is this? How much is it?

it's an unsecured personal loan owing about 7800.

I would hazzard a guess that the $5.00 in the CU savings is the "membership fee" and is not available for any type of action against it. I wouldn't worry about it. You can check with your CU.

yes it is my membership fee that is required to remain. I can't w/d 5 bucks from an ATM and my CU is about an hour drive from me (no local branch).

[treehugger1]

I would hazzard a guess that the $5.00 in the CU savings is the "membership fee" and is not available for any type of action against it. I wouldn't worry about it. You can check with your CU.

[DeadManCrawling]

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans


Careful there. If that Five Dollar account has the ability to be overdrawn, they can and may legally do so to the highest limit.

Then you have, potentially, larger problems.

[jwmc1]

What type of loan is this? How much is it?

[ace13]

If you have any money in a saving or checking account at that CU, clear it out.

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans.

Does CitiFi still have a branch office in your town/county? YES they do!

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence? Interestingly, during our consult, my attorney asked if any of my CC or unsecured personal were over 10K and he mentioned about being sued in some other court (don't remember); didn't pay too much attention because none of my loans are 10K or above...all under

Thanks for the replies. These ppl are difficult. And, like I stated below, they report the entire amount of your loan (principal and interest) to the credit reporting agencies. I have never had a creditor do that before CitiFinancial!

[Snickers]

And to justbroke thanks...luckily my CU loans are unsecured and my car and home are financed thru other lenders. Of course they may still come to the 341...we shall see

If you have any money in a saving or checking account at that CU, clear it out.

[backtoschool]

Does CitiFi still have a branch office in your town/county?

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence?

It is possible that should they have local branch in your area that they will follow through with a suit. Why they didn't do this on my alleged account is beyond me. Instead, after I got a few special deliveries, the account went to a CA. I am a very hih risk and I did attempt to work with them on a great plan until things got out of hand for me financially.

I don't think citifinancial is any more likely to sue than any other creditor. IF you have a large, garnishable salary (like in your case) then pretty much all of your creditors will eventually sue.

[treehugger1]

Does CitiFi still have a branch office in your town/county?

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence?

It is possible that should they have local branch in your area that they will follow through with a suit. Why they didn't do this on my alleged account is beyond me. Instead, after I got a few special deliveries, the account went to a CA. I am a very hih risk and I did attempt to work with them on a great plan until things got out of hand for me financially.

[ace13]

They got $10.00 from you in September; that means they can get more.

I should clarify...they got ten bucks in sept before i retained my attorney. I was current on all loans up to that point. Since retaining counsel I have paid no one nor answered any phonecalls.

And to justbroke thanks...luckily my CU loans are unsecured and my car and home are financed thru other lenders. Of course they may still come to the 341...we shall see

[BigJohn]

They got $10.00 from you in September; that means they can get more.