lek1981 Posted October 16, 2004 Report Share Posted October 16, 2004 First, I would like to say thanks for having a great resource. This is my first post and I did some searching but I still have some questions.I'm a student and my citi account (about 10K, 1yr deliquent) have just been handed over to NFS and I was wondering if there is anyway of having Citi take back the acount? I want to send NFS a CD and DV letter, but I'm afraid of a lawsuit and don't want to go to court. Before they started calling me I just send Citi a payment using my bank e-pay.I have just recently lost my job and I have the credit protector how will that help me get my account back to Citi?Lastly, I'm in my last year of college and just got approve for a student loans (both private with a co-borrower and government). My school allows me to go over the actual amount that I need. I plan on taking out extra (since it is at a way lower rate and the interenst tax deductable) to help pay off my credit card debt. I know you should pay off one credit with another credit, but I think that this will be the fastest and best way to repay them. Link to comment Share on other sites More sharing options...
lek1981 Posted October 19, 2004 Author Report Share Posted October 19, 2004 Please help Citibank jusy called my parents house and said that they have a warrant out for me and they also told my parents about the amount I owe. iI really need some help! Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 19, 2004 Report Share Posted October 19, 2004 sounds like you will have to deal with the CA. They should not have revealed the info to your parents. You may have them on a FDCPA violation. Do a DV and C&D to the CA. Don't be afraid of giving them your address. They can find you if they really want to. Link to comment Share on other sites More sharing options...
J_Snow Posted October 19, 2004 Report Share Posted October 19, 2004 Please help Citibank jusy called my parents house and said that they have a warrant out for me and they also told my parents about the amount I owe. iI really need some help!If your parents were not co-signers on this account, then they just committed a violation of the FDCPA. Do as instructed and get out a DV letter that includes a limited C&D. Now-keep in mind-you do owe this money so you will have to work with the CA to get it settled. What you want to do is get the settlement offer IN WRITING from the CA. You should only be dealing with them in writing period. If you show some movement towards getting the matter resolved-they will probably work with you. I dont believe they can have a warrant issued since there is no such thing as a debtors jail for them to take you too! Thats another violation by the way.They could however have a summons for you if they are looking to get a judgment. Do you have anything of value? You might consider BK if you dont. You sound young-BK isnt the worst thing in the world. I dont think it will inlcude your gov't loans-but at least you would be in a much better postion to take care of those without the other debt. Its a thought. Link to comment Share on other sites More sharing options...
lek1981 Posted October 19, 2004 Author Report Share Posted October 19, 2004 I have the DV letter and I will mail it tomorrow morning. I just filed an online complaint witht the FTC. Citi admitted that NFS made 3rd party violations and they said they are going to report it. The rep said that Citi will not take back my account. I made the mistake of talking to those people at NFS since they called my parents and I didn't want anymore calls going to my parents house. They are taking about filing suit, how long do most CA wait until they file suit? Also where would they file suit? I live in Penn. for school, but my drivers license is from jersey.My parents are not co-borrowers on my Credit cards, but they are on my student loans. I don't want to file for BK for that reason. I don't want them to responsible for my student loans. I was thinking about entering a program with the CCCS in my local area. Is that a better option? Link to comment Share on other sites More sharing options...
J_Snow Posted October 20, 2004 Report Share Posted October 20, 2004 I have the DV letter and I will mail it tomorrow morning. I just filed an online complaint witht the FTC. Citi admitted that NFS made 3rd party violations and they said they are going to report it. The rep said that Citi will not take back my account. I made the mistake of talking to those people at NFS since they called my parents and I didn't want anymore calls going to my parents house. They are taking about filing suit, how long do most CA wait until they file suit? Also where would they file suit? I live in Penn. for school, but my drivers license is from jersey.My parents are not co-borrowers on my Credit cards, but they are on my student loans. I don't want to file for BK for that reason. I don't want them to responsible for my student loans. I was thinking about entering a program with the CCCS in my local area. Is that a better option?Not usually. The CCCS peeps only do what you can do yourself-that is to negotiate. You can file BK and exclude the loans your parents are a party to from them so that they are not impacted.Any judgment would have to be in the state you reside in at the time they file. So for this, I would think the laws of PA would be applicable. You should really post what you know now over at the lawyer forum here and explore the BK option. It might not work-but it might. And you do have the violations you can use as leverage to get easier settlement terms if you choose to pay them. Remember to ask for deletion from your CR because a paid collection item is just as bad as an unpaid one.Good luck and remember this is a slow process-but its one you will recover from. Your not alone. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 20, 2004 Report Share Posted October 20, 2004 student loans are non dischargeable in BK. Don't fold your tent just yet Link to comment Share on other sites More sharing options...
lek1981 Posted October 20, 2004 Author Report Share Posted October 20, 2004 student loans are non dischargeable in BK. Don't fold your tent just yetWhat if they are private load? Link to comment Share on other sites More sharing options...
J_Snow Posted October 20, 2004 Report Share Posted October 20, 2004 I think it was supposed to be private loans.... My first reading was that some of them were gov't and others just regular loans... but we shall see.I knew the gov't loans werent dischargable but if the other is just a loan used for school? Link to comment Share on other sites More sharing options...
lek1981 Posted October 20, 2004 Author Report Share Posted October 20, 2004 I have both private and gov't loans. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 20, 2004 Report Share Posted October 20, 2004 not sure about the privates. If they are federally subsidized ro guaranteed in any way, they are probably not dischargeable. Link to comment Share on other sites More sharing options...
lek1981 Posted October 20, 2004 Author Report Share Posted October 20, 2004 I just mail out my DV CMRR should I continue to speak to NFS or should I stop? I figure if I continue to BS with them on the phone I could buy some extra time.THANKS SO MUCH!!!!!!! Link to comment Share on other sites More sharing options...
J_Snow Posted October 20, 2004 Report Share Posted October 20, 2004 If NFS is a collection agency and you just sent them the DV-then do not continue to speak to them. Let the letter do its thing. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 20, 2004 Report Share Posted October 20, 2004 In your letter you tell them not to contact your parents or you by phone, that if they persist it will be a violation of the FDCPA, and to contact you in writing to an address you give them. Calling them won't make a difference. If they are going to sue you, they will sue you, and you don't want their employees testifying how you admitted the debt to them on one or more phone calls. Spend your time preparing a defense to the lawsuit, and planning a settlement they and you can live with. Link to comment Share on other sites More sharing options...
lek1981 Posted October 20, 2004 Author Report Share Posted October 20, 2004 I really don't want this to go to court. I have secured some student loan money to help pay off this. It will just about cover most of the amount that I owe. I'm just trying to get CITI to not take this to court, take back the account, waive some of the late and over the limit charges and have the account marked as closed and paid. Does this seem like to much or too little to ask for when asking for settlement? I just want to get rid of this problem and focus on finishing school. BK seems like if it would take too much time away from school. I only have 6 more months left. Link to comment Share on other sites More sharing options...
lek1981 Posted October 20, 2004 Author Report Share Posted October 20, 2004 UPDATE: ok, I stopped answering NFS phone calls. I talked to one person on the phone and she said that she'll give me until next Tuesday to come up with the funds, then her manager called, I told him what the she said and he hanged up then called me back two minutes later saying that this wasn't the case. You guys are right about getting everythings in writing and not talking to CA (I only called so that they won't harass my parents). Does this count as a violation for harassment? Also while at the post office the lady told me that I can get a scanned imaged of the green card e-mailed to me, but that would mean that I would not get the little green card is this a good option? (I told her I would rather get it back in the mail) I don't think that they purchase my account. I haven't check my CR yet (I don't have the money) But from I understand from their voicemails, they say that the account ARRIVE at thier on 10/9 and they received a file. They mention that they own the account. I'll see once I get my credit report what should I look out for when reading my report?I have two midterms tomorrow and I'm going to try to focus in on those. Afterwards, I plan on writing letters to CITI to try to get them to take back my account and everything else I said above. Do you think i should write some members in Congress and various government agency descibing the violations that NFS comittiee and the tactics they used and try to get them investigated? I know by doing some of my own research that the paid largest settlement to the FTC for FCRA violations. Should I mention this in my letter to CITI or might this sound too hostile? Link to comment Share on other sites More sharing options...
J_Snow Posted October 20, 2004 Report Share Posted October 20, 2004 You can tell them verbally on the telephone not to contact you or your parents by telephone-and provide the appropriate mailing address for all correspondence.Study for your tests and dont worry about this.Your not going to get Citi to take this account back-so as we have stated before-dont try that route. You want the DV letter to work and you want to start accumulating the violations. Make a log of all communications and create a file to store everything in.Dont let this ruin your life-its only money. I would however fill your parents in on whats going on. If they are contacted again-you will want them to get names and record dates and times of all contact. You will get thru this-its just going to take some time. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 21, 2004 Report Share Posted October 21, 2004 Citi will not take it back . Consider this a lesson: don't do business with them again. I certainly won't.I don't know what concessions you can get from the CA. Be aggrressive. Ask they delete the account ( you don't want a "paid collection" account, and you don't want the lates showing.Better it doesn't show up at all) Link to comment Share on other sites More sharing options...
lek1981 Posted October 23, 2004 Author Report Share Posted October 23, 2004 I went to experian and this is how CITI is reporting it:Account Name: CITIAccount Number: XXXXXXXXXXXAccount Type: Credit Card - Revolving Terms Type of Business: Bank Credit Cards Terms: Revolving Account Status: Closed Monthly Payment: $180 Date Open: May, 2001 Balance: $7,652 Balance Date: Sep 8, 2004 High Balance: Not reported Credit Limit/Orig. Amt.: $5,500 Past Due: $921 Remarks: Credit line closed-grantor request-reported by subscriber Payment Status: Past due 150 days I guess that they haven't gotten my letter yet. So I think I'm going to have to call and tell them to stop calling since they have contiuned to call my parents house. I'm going to speak to them first thing tomorrow morning and tell them to put everthing in writing. When they called my parents house they told my brother something about attorney (he was half asleep). I forgot to mention that they sent me a letter. It said who they were and that they were trying to collect a debt for their client CITI. They also left me a message on my voice about a warrant of debt. My main goal is to have them stop calling my parents. Link to comment Share on other sites More sharing options...
Recommended Posts