Being sued by Citi Financial

[debtmonster]

I am just wondering, WHY THE HELL DO PEOPLE NEVER SUE ME?!?! I have way more debts than anyone on this entire forum. I have 64 people on my list that I will be submitting when I file. In the past 20 years I was served just a few days ago for my mortgage being 90 days past due, but that's because they want to start the foreclosure on my home.

How come Wells Fargo, Citibank, GMAC, HSBC, Citizen's Bank and tons of other people have never taken me to court or got default judgments on me?

It wasn't hard to serve me at all. My wife answered the door and poof! We were served. That's why I always recommend to NEVER open the door for anyone if you're not expecting anyone. They can't sue you if they can't serve you. Just do whatever you can to stall them in court and keep getting it delayed until they get tired of throwing good money after bad and then they will eventually go away.

I don't know why banks go after people who are broke. That is really a very stupid business model. They should just got their loses, get the tax break and move on to the next victim.

I can't even afford food, let alone current or past debts. Anyone thinking that they would ever get a dime from me in a court has another thing coming to them. The courts love all this because they are just like stock brokers... no matter what happens, the court always makes money for all arguments. Just like a stock broker... whethe you make or lose money, the stock broker doesn't care. He makes money regardless.

Good luck with your case.

[Trixie007]

There's a big difference between the local branches and their personal loans and a Citi cc. I was thinking that might be what you had. Sorry that this is happening so quickly to you!

[StartingOver08]

Well debtmonster - in addition to our regular FICO scores (which there are several models used for credit cards, mortgages and cars) there is a score called the Bankruptcy risk score!

They probably looked at your report and it indicated you should have filed a while ago.....

If you want to read more about it, look here:

http://www.fairisaac.com/ficx/Produc...tcy-Score.html (This is one of the sites that promote the use of the BK score)

To read about the score check this out: http://www.associatedcontent.com/art...ore.html?cat=3

What Your Creditors Don't Want You to Know
It is a little known fact that the credit report that a merchant pulls on a consumer is not the same report that the consumer receives when one is ordered. The information can be drastically different.
Why is that?
Doesn't it seem a bit devious?

There is a scoring method that has been around for over twenty years that has absolutely nothing to do with your FICO score that merchants and retailers use on a regular basis and that is the Bankruptcy Risk Score. Unlike credit scores, bankruptcy risk scores are not sold to consumers by any of the credit bureaus. Consequentially, individuals have little or no way of knowing what their bankruptcy risk scores are or how to adjust them downward.

This is also referred to as "debt analysis" which allows lenders the ability to assess a customers risk in taking out a line of credit. This score is supposedly a complex mix of your credit score plus your spending habits such as information of how you use your credit card, shopping cards and any other way they can assess what you buy. The credit agencies and those that have contributed to creating it have been reluctant to reveal exactly how the model works and what it is based upon because they see it as proprietary information. They spent a lot of time and money developing it and if they explain it, they are giving away part of its value. Therefore little is said about this report which is why you have likely never heard of it before. Out of 10 credit card holders I have asked, not one knew of this scoring method.

The Bankruptcy Scoring Model calculates a consumer's bankruptcy risk score by comparing their credit report characteristics with the characteristics of the credit scoring model. A specific point value is associated with each characteristic. The total of these points is the consumer's bankruptcy score. Bankruptcy scores range from -200 to 2018, with most ranging between 0 - 1000. Higher scores indicate greater likelihood of bankruptcy.

Bankruptcy scores utilize this inverted scale to measure bankruptcy risk where low scores are an indicator of low bankruptcy risk (good) and high scores are an indicator of high bankruptcy risk.

[debtmonster]

Sweet! Last time I checked my FICO was about 489. Does that mean I am in the "don't waste any money or time pursing this guy" list?

[Willy13]

Maybe it's because the CEOs can't get their big bonuses if they take bailout money. They telling the guys in the trenches, "if you want to keep your job's, you better find a way to get that bailout money paid back so I can get my bonus back. One of my multi million dollar homes has a payment due this month. 'I' don't have time to play the 6 month charge off game any more".

[debtmonster]

Maybe it's because the CEOs can't get their big bonuses if they take bailout money. They telling the guys in the trenches, "if you want to keep your job's, you better find a way to get that bailout money paid back so I can get my bonus back. One of my multi million dollar homes has a payment due this month. 'I' don't have time to play the 6 month charge off game any more".

I can't stand capitalism. I wish they would modify it and put caps on CEO incomes to make about only 20-40% more than the CEO's average employees.

[inpain66]

Sweet! Last time I checked my FICO was about 489. Does that mean I am in the "don't waste any money or time pursing this guy" list?

The whole FICO score is just depressing. Mine went from 600's to 400's in last 6 months. I guess it will be in the 300's after I file.

[Willy13]

The whole FICO score is just depressing. Mine went from 600's to 400's in last 6 months. I guess it will be in the 300's after I file.

With so many credit scores taking big hits these days, I would think they will have to make some favorable adjustments to the scoring system sooner or later.

[debtmonster]

The whole FICO score is just depressing. Mine went from 600's to 400's in last 6 months. I guess it will be in the 300's after I file.

Mine from from 680 to 491 in like 2 months. The lawyer told me to stop paying everything, so I did. When I log into Experience service, it says I have 29 Negative Credit Alerts and counting.

I am guessing that mine will also hit the 300's. AMAZING.

Yeah, I am thinking the same thing about the credit scoring system. Way too many people defaulting.

Thing is, after all is said and done, I don't want to use credit anymore anyway. I just wanna live a cash lifestyle.

[DaisysMom]

I can't stand capitalism. I wish they would modify it and put caps on CEO incomes to make about only 20-40% more than the CEO's average employees.

It's not capitalism. In fact capitalism is a good thing. It's the greed of the people who are in charge. It used to be that when you had a business you had genuine concern for your employees and your customers. It was a good system back then. But greed has changed everything and it has gotten totally out of control. Wish there was a way to make people more compassionate. No one should have to pay 20-30% interest.....it is just PURE greed.

D...

[debtmonster]

It's not capitalism. In fact capitalism is a good thing. It's the greed of the people who are in charge. It used to be that when you had a business you had genuine concern for your employees and your customers. It was a good system back then. But greed has changed everything and it has gotten totally out of control. Wish there was a way to make people more compassionate. No one should have to pay 20-30% interest.....it is just PURE greed.

D...

I thought this country was all religious and that the bible all talks about "usury" and crap about how you're not supposed to pay interest. If everyone is so religious, why don't they do away with interest?

[DaisysMom]

DebtMonster: Please give me the book and verse in the Bible where it says that you should not have to pay interest? I would really like to see that.

I don't think it is wrong for someone to get interest on money loaned just the same as getting interest on money saved. But it should be fair and honest and not jacked up...they should honor their agreement. No fine print to try and cheat someone. That is where the problem lies alot of time. Unscrupulous lenders as well as uninformed borrowers.

And then too....Not all.....but some times......some of us (like myself) live in denial over extending ourselves financially while chasing the American dream. I will be the first to admit, I am alot to blame for the spot I am in. But like in AA, weightwatchers, etc., admitting to the problem is the first step in solving it and making sure it is not repeated.

DebtMonster....I'll be waiting for those Bible verses.

D...

[Willy13]

Greed and Capitalism are two sides the same sword I hate to say. The only way to keep Capitalism in control is regulation and taxes which is basically what turns it into Socialism. It's a catch 22

[jeb]

I thought this country was all religious and that the bible all talks about "usury" and crap about how you're not supposed to pay interest. If everyone is so religious, why don't they do away with interest?

I have found that "religious" people are that only when it fits what THEY want at the time.

If you think about it, those on the religious right that support war, totally against "socialism" and helping others call themselves "Christians".

Seems to me that Christ was the man of peace, the man of turn the other cheek and the man of help your fellow man.

Can you say hypocrite? - jb

[jeb]

DebtMonster: Please give me the book and verse in the Bible where it says that you should not have to pay interest? I would really like to see that.

NIV -

Exodus 22 - "If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.

Leviticus 25:35-37 - " 'If one of your countrymen becomes poor and is unable to support himself among you, help him as you would an alien or a temporary resident, so he can continue to live among you.

36 Do not take interest of any kind [a] from him, but fear your God, so that your countryman may continue to live among you.

37 You must not lend him money at interest or sell him food at a profit.

King James -

36 Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee.

37Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.

Think about this last one - "37 You must not lend him money at interest or sell him food at a profit."

Want to think about how this would change the world's economy?

As usual, all those good religious people pick and choose what they want to believe in. - jb