CitiFinancial & Collections

[ace13]

Does anyone have experience with CitiFinancial's collection process? About two weeks ago I received a letter via UPS (but not certified and no signature required) advising me to contact them in 3 days to set up payment arrangements or they were going to refer my account to their attorney or a magistrate.

It's past the three days and nothing except voluminous phone calls (about 8-10 per day) from the local branch where I got the loan.

Do you think the letter was a scare tactic or do you think they are in the process of starting suit? I know you can't speak for them but curious if anyone else has dealt with them? I sent them a very small payment in september (10 bucks) but at least it was something. Any thoughts?

Also being they have a local branch I'm wondering if they will show at the 341 (not sch yet - not filed yet)??? Thanks for your time...

[backtoschool]

Does anyone have experience with CitiFinancial's collection process? About two weeks ago I received a letter via UPS (but not certified and no signature required) advising me to contact them in 3 days to set up payment arrangements or they were going to refer my account to their attorney or a magistrate.

It's past the three days and nothing except voluminous phone calls (about 8-10 per day) from the local branch where I got the loan.

Do you think the letter was a scare tactic or do you think they are in the process of starting suit? I know you can't speak for them but curious if anyone else has dealt with them? I sent them a very small payment in september (10 bucks) but at least it was something. Any thoughts?

Also being they have a local branch I'm wondering if they will show at the 341 (not sch yet - not filed yet)??? Thanks for your time...

This is just a scare tactic. You know you are filing for bankruptcy. Don't let them upset you. Usually CU's are the only banks that somewhat regularly show up at 341's

[ace13]

These ppl are vicious animals. I have not answeed one call of theirs!!

Do ppl realize that citifinancial reports the TOTAL amount of your loan (principal and interest) to the credit reporting agencies?? Which in turn affects your whole income to debt ratio. Can you imagine if all of our loans did that especially our mortgage??? We would not quality for add'l credit!

My statements and credit reports show I owe citifinancial over 14k when the actual loan amount was 7800k. And this is legal to do!! Byebye citifinancial...now my credit report can show IIB next to their name and loan amount

thanks for reading my rant...

[justbroke]

Do you think the letter was a scare tactic or do you think they are in the process of starting suit? I know you can't speak for them but curious if anyone else has dealt with them? I sent them a very small payment in september (10 bucks) but at least it was something. Any thoughts?

While it is posturing and a scare tactic, they more often than not... actually refer to an outside attorney.

Also being they have a local branch I'm wondering if they will show at the 341 (not sch yet - not filed yet)??? Thanks for your time...

They never showed up at mine. I don't think they're into that sort of thing anyhow. They know they will get nothing, so why even waste time attending a 341 Meeting. Credit Unions usually show up because they are local and it's usually a car that they are interested in.

[BigJohn]

They got $10.00 from you in September; that means they can get more.

[ace13]

They got $10.00 from you in September; that means they can get more.

I should clarify...they got ten bucks in sept before i retained my attorney. I was current on all loans up to that point. Since retaining counsel I have paid no one nor answered any phonecalls.

And to justbroke thanks...luckily my CU loans are unsecured and my car and home are financed thru other lenders. Of course they may still come to the 341...we shall see

[treehugger1]

Does CitiFi still have a branch office in your town/county?

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence?

It is possible that should they have local branch in your area that they will follow through with a suit. Why they didn't do this on my alleged account is beyond me. Instead, after I got a few special deliveries, the account went to a CA. I am a very hih risk and I did attempt to work with them on a great plan until things got out of hand for me financially.

[backtoschool]

Does CitiFi still have a branch office in your town/county?

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence?

It is possible that should they have local branch in your area that they will follow through with a suit. Why they didn't do this on my alleged account is beyond me. Instead, after I got a few special deliveries, the account went to a CA. I am a very hih risk and I did attempt to work with them on a great plan until things got out of hand for me financially.

I don't think citifinancial is any more likely to sue than any other creditor. IF you have a large, garnishable salary (like in your case) then pretty much all of your creditors will eventually sue.

[Snickers]

And to justbroke thanks...luckily my CU loans are unsecured and my car and home are financed thru other lenders. Of course they may still come to the 341...we shall see

If you have any money in a saving or checking account at that CU, clear it out.

[ace13]

If you have any money in a saving or checking account at that CU, clear it out.

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans.

Does CitiFi still have a branch office in your town/county? YES they do!

I say this because I noticed here since citif shut down their local branch, my alleged accounts are now in some unregistered CA's hands 3000 miles away. I did notice that the branch over in thenext county is filing small claims suits against debtors in my district. Small claims here caps out at $7500. Above that amount, the circuit court is involved and the costs begin to climb. This includes the risk of the defendant filing an answer and pushing everything into mandatory arbitration; some real costs involved in this. I don't think I have seen any suits above the small claims limit. It is also interesting that citif loaned unsecured money right at or below the small claims limit. Coincidence? Interestingly, during our consult, my attorney asked if any of my CC or unsecured personal were over 10K and he mentioned about being sued in some other court (don't remember); didn't pay too much attention because none of my loans are 10K or above...all under

Thanks for the replies. These ppl are difficult. And, like I stated below, they report the entire amount of your loan (principal and interest) to the credit reporting agencies. I have never had a creditor do that before CitiFinancial!

[jwmc1]

What type of loan is this? How much is it?

[DeadManCrawling]

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans


Careful there. If that Five Dollar account has the ability to be overdrawn, they can and may legally do so to the highest limit.

Then you have, potentially, larger problems.

[treehugger1]

I would hazzard a guess that the $5.00 in the CU savings is the "membership fee" and is not available for any type of action against it. I wouldn't worry about it. You can check with your CU.

[ace13]

What type of loan is this? How much is it?

it's an unsecured personal loan owing about 7800.

I would hazzard a guess that the $5.00 in the CU savings is the "membership fee" and is not available for any type of action against it. I wouldn't worry about it. You can check with your CU.

yes it is my membership fee that is required to remain. I can't w/d 5 bucks from an ATM and my CU is about an hour drive from me (no local branch).

[anime-chicka]

I have all of 5 bucks in a savings account. They can have it. No checking/money market/car loans/HELOC or anything but unsecured (2) loans


Careful there. If that Five Dollar account has the ability to be overdrawn, they can and may legally do so to the highest limit.

Then you have, potentially, larger problems.

Not if it was the obligatory 5 dollars "membership fee" that they require for their customers. The CU where we have our second mortgage never touched the 5 dollars we had in the checking account we were required to open in order to get the HELOC when I filed. It was explained to me by the bankruptcy department that if the money in the account was the opening deposit, they can't take it. No exceptions.