question about collection agency

You need to talk with Citi, ask them if this collection agency is collecting on their behalf, or if they own the debt. If it's been turned over to a collection agency, that is who you will be dealing with, most likely. Make sure you don't admit to the debt with the collection agency, over the phone, make them send you a letter of collection via the mail, it's a requirement by the FDCPA. After you receive a letter of collection, make them validate it before you do anything.

Citibank typically assigns debt....they dont sell very often or not until the paper is old.

what's the diff between assigning and selling debt? at least as far as i'm concerned? i did just receive a letter in today's mail from UCB (they've left 3 - 4 messages but i haven't called them yet. so you're saying that i want to send them a letter disputing the validity of the debt (even though i KNOW i owe this?)? and then what do i do? i did call CITI the day after my first message from UCB, and they referred me to them.

thanks for more input!

Assigning means that citibank still owns the account and controls everything about it. When an account is sold, it is sold off en masse with hundreds of other accounts to a junk debt buyer...the jdb usually pays pennies on the dollar.

Citibank for the most part only assigns out accounts.

so should i still try to talk to CITi? or what is my next step?

thanks!

Citi wont talk to you...they hire UCB under contract and they will send you right there.

o.k. so then if they've only assigned it, then i should still try to find someone i can talk to there as far as trying to get some sort of payment plan coordinated? or can one get a repayment plan coordinated with a collection agency? i'm thinking that it's only been assigned, since the letter i just received today from UCB directs me to make payment to CITI..... what's the best thing to do after requesting them to validate it?

there is little point in validation since Citibank has told you directly that UCB is handling the account. Yes it is your legal right but Citibank could see it as a stall tactic and decide to pursue legal action asap.

UCB will hit for the highest payments possible or settlement. They are not easy to work with and as I said before, they have a tendancy to break the law. So record calls....when my husbands citi was at UCB they violated BIG TIME and hubby got a huge settlement.

i'm assuming that it's just been assigned, as the letter i received today directs me to send the balance due to CITI. however, if i HAD that amount, i wouldn't be in this spot, so after requesting them to validate, what is the best process? will a collection agency work with you to set up a payment plan? CITI wouldn't since a portion of the amount was in a special program..... what are my options?

so you're saying to record my phone conversations with them? do i have to advise them that i am doing that? as far as talking to them, any points to be aware of (as in things either i should or should not do) or what i should be alert to (either in terms of violations or anything else)?
thanks!

Hey there. Im on the same boat. Owe about 34k to Citi on two cards.. Was trying to work out a settlement with Citi and trying to talk to family about a loan to pay them. But the amount I can borrow and the amount citi wants are off by several thousand. Citi was offering me 40% on the dollar. They were really nice about this too. Then one day last week I get a call from UCB from Mr. Larry Giffey. He said he owned the debt and I was confused. I thoght citi owned it.

I call back the Citi Rep who ive been dealing with and she tells me she sees that they have sent it off to UCB. But she says if I move fast I can still work with her! She lowers the amoiunt due to 38% settlement offer. Very nice number and nice gal. I told her I wish I could do it, its still just a little to high. She said she couldnt go any lower and I actually belelieve her. I dont think she can. Then she tells me just get into a monthly 0% apr plan with her for 1 year and try to settle again next year to avoid this going to UCB. IT makes sence but im tired of this game. I owe so much its time just to claim bankruptcy I feel if I cant get an offer I can afford.

With that said Mr. Giffey at UCB as also been very nice. His settlement offer is also very good and I told him all Citi was trying to do. He got a little upset since legally I beleive he owns the debt now and not citi and he felt Citi was undercutting his efforts by offering me such a low settlement. As a result Mr. Giffey has been very honest and has shown patience of my situation. He knows im in a bind, probably knows that more than likely Im going to have to do bankruptcy, but has thrown out some really good offers for me to settle.

I hear a lot of complaints about these UCB people and how nasty they are but Im always a big believer in treat those how you would like to be treated. That goes both ways. I have yet to ignore his calls, have been very honest with him and he's been trying to work out something that works for us both. Thats how it should be. Morally I want to pay back this debt and of course he wants me to pay this debt, its his job and how he puts food on the table. I know how that can be.

Show them a little respect and they will do the same. Realize they deal with tons of scumbags everyday. To be a little more refreshing and human to them goes a long ways. I have tons of debt and yes I have some really harassing people calling me. But ive found its up to you to really change that tone with them on the other line. The moment you start being honest and communication with them they really do become better. Most of them anyhow.

Maybe they have to be nice to be since I owe so much (about 120k) over 6 cards.. But thus far citi and UCB have been really working out something with me. Im sure they will do the same with you if you talk with them.

Ill keep this board posted with how this all works out. Im going to let them know next week how much I can get. Its lower than the offer they sent me but hopefully its enough. My family is urging me to just claim bankruptcy.. I dont know why, but im just morally agasint that. If I can get a good settlement from these guys and make everyone on both sides happy ill do it.

I only wish I knew how low they could really go. The longer this is drawn out the more likely it will be I claim bankruptcy.

UCB seems to work hand in hand with Citicards. I was 120 days late with citi and then they sent them over to UCB. I think becasue UCB is a collection agency they are more aggressive and creative and well equiped to deal with and communicating and hunting down our type. I have another debt with Bank of America (both around 30k each) so its no joke.

BofA is able to offer and accept figures on the fly. UCB seems to have to check with Citicards. From my experience so far both places are nice when you are honest and try to work with them. But BofA has been able to give me better offers.

Im trying very hard to pay both parties but realistically I dont know if I can. My mother lent me some good cash which would be able to pay off one group.. But my Father wont lend me money till I talk to a bankruptcy attorney. I am personally against bankruptcy and I feel if I take care of one of these debts before my meeting my dad will be forced to lend me more money to take care of the other.

I hope I am able to pay for both. To be truthfull I plan to pay one group tomorrow and keep the left over 2k for myself, take it to the casino and try to get lucky to pay the other..

Sounds crazy but it may be my only hope!

Wish me luck!