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Citi bank Attorney Sueing for $5,100 ?

Date: Thu, 05/27/2010 - 23:05

Submitted by Ben P
on Thu, 05/27/2010 - 23:05

Posts: 5 Credits: [Donate]

Total Replies: 13


I received a notification that citi bank has hired law firm who will simply preferred to sue me without making any settlement. I talked to the lawyer offer 20% of the debt and said Nope and will see you in court.

Is this a joke ? How much do they want 100 % of it. Is it wise to involve lawyer to negotiate ?

Ben


I started shopping around for lawyer quote as my current lawyer is asking $5000 just for retainer than $450.00 an hour. I mean if I really had that kind of money don't ya think I would of paid the cc first.

Should I still shop around for reasonable lawyer to represent me in citi bank sue ?


lrhall41

Submitted by Ben P on Fri, 05/28/2010 - 06:21

( Posts: 5 | Credits: )


Try to settle with the attorney for a reasonable amount. They are not going to accept 15-20%. If Citi still owns the account, they will want 75-80% of the balance.

Quite frankly, I dont see the point to hiring an attorney if you owe the debt. It could just end up putting you deeper into debt.

What is your credit like? You a homeowner?? They could be seeing assets.


lrhall41

Submitted by SOAPLADY on Fri, 05/28/2010 - 07:06

( Posts: 17315 | Credits: )


Supposedly, Citibank/Zwicker Associates, filed a lawsuit against me as well (i found out when i received 20 "advertisement" letters from attorneys, saying that they can represent me). I called them up Zwicker (collections agency for Citi), and told them that I'd love to settle.

The first gave me 30%, i called them back a month later and asked them if they could lower the amount, and they went down another 5% to 25% of the balance. I'm paying them 60% first month, and 20 & 20% 2nd and 3rd months.
To me, that sounds like a good deal, considering I owed 42k!

Here's my original thread:
http://www.debtconsolidationcare.com/forums/showthread.php?p=704069#post704069

I will also call them next month, and see if they can lower the 2nd and 3rd payments.... they probably won't... but it can't hurt to try, right (since i have the terms in hand already)?


lrhall41

Submitted by on Fri, 05/28/2010 - 12:09

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I will call the attorney to determine if they will budge with 50% of it. If not than will increase the %. They tried to summon but fail twice. I was out of the house , wrong timing. I will take the advise and contact the firm to settle for 50% or 60%. I hate going to court.

I have to hire a lawyer for my B of A real estate loan . I'm in default of personal line of credit that has my real estate attached to it ( not a house ) . $450.00 an hour to negotiate, does that sound right ?


lrhall41

Submitted by Ben P on Fri, 05/28/2010 - 12:48

( Posts: 5 | Credits: )