Collection agency v judgements

[BOA]

Some of creditors have sold my delinquent acct to a collection agency while Citibank is going for a judgement against me is this really bad?

I have been trying to stave off fileing hoping I can turn things around. I am trying to work out a fat commission and salary arrangement right now. But its still in the works.

I'm out of the US attending school.

I can't settle up with them now because I am broke.

[StaciMM]

If they get a judgement, it means that it can be used to garnish wages, attach to property, bank accounts, etc. If you're out of the country and have no bank accounts/property here you'll be ok on that temporarily. (If you have joint accounts w/ anyone, they should probably close them out and open new ones without you.)

The other downside to a judgement is it is good usually for 7-10 years, and can be renewed after that. A BK would wipe out the debt behind the judgement, but if it had already taken a lien on property, etc. that may or may not be reversed.

[BOA]

Thanks Staci

I appreciate being forwarned by you on this.