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Citibank Summons

Date: Sun, 09/12/2010 - 03:17

Submitted by pencapadvertising
on Sun, 09/12/2010 - 03:17

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Total Replies: 1


I received a summons by a sheriff on 9-10-2010 from an local attorney that is representing Citi Corp. I have 20 days in which to answer the Summons, no file number on the document? Does that mean there is no case fiIed in court yet? I owe about 15k and have not had any contact with Citi bank for about 4 months. I called the attorney to see what type of offer they would be willing to settle for. The lawyer responded with the best offer I can make you by Citi is 50% off the total plus attorney fees, (about 1,000) and I must repay it in a years time at a monthly payment of about 700 plus dollars or I can pay the fully 15k over a 3 years period at about 500 per month or I can submit an offer to Citi and he will see if they will except it?. Unfortunately I can not afford to except the first two offers at this time since I’m married and self employed and I’m trying to keep my home I live in Rhode Island and I'm trying not be to be foreclosed upon, my mortgage is upside down at the moment . I have no savings , no 401k, no other property, and very little in my checking account to work with, with no other assets except for 2 cars that are paid for (2001 highlander, 2006 Tundra) That’s it. I Live in RI and would like to know if they have any laws to protect me? If they continue the Law Suit can they put a lien on my home (homestead act?) or some how drain my small bank account or some how attach to a pay check that I don’t get since I’m self employed and business has been non-existent at this time. Do you have any prepared letters that I can submit to the lawyer and the Court as a defense to this case? Between my wife and I do owe about 50k total in CC to other banks (that’s including Citi-corp.) and have not received any other Suits from any one else. Should I consider Bankruptcy? or some type of repayment plan? Or just answer the summons and hope they back off when they realize I have no money and my house is underwater. Please respond to this notice with any help possible, Thanks David.