I hired a law firm in CA to perform debt settlement on some of my unsecured debt. (I had $26,000 balance on a Citibank card.) (Herbert Davis Law Offices). After securing a loan and making one full payment to the lawyer, I received a copy of the following settlement letter from Herbert Davis, addressed to Citibank: Dear Sir or Madam: The office represents [my name]. This letter is to advise that the above referenced debt was resolved on June 15 2009, by an accord and satisfaction pursuant to Illinois Uniform Commercial Code Section 3-311. If you check your file, you will find a letter was sent to Citibank disputing the accuracy, propriety and legality of the interest charges and late fees that were added to the above account. The letter requested certain information be provided in an attempt to reconcile the disputed charges, and stated that if a response was not received, a settlement check with a restrictive endorsement would be sent as payment in full. When no response was received, a settlement check, with a restrictive endorsement stating that depositing the check would constitute full satisfaction of the disputed debt, was sent to Home Depot Credit Services. The check was deposited and cleared the bank June 15, 2010. Pursuant to your obligation under the Fair Credit Reporting Act, a demand is hereby made that you inform the credit reporting agencies that they should report this debt as settled.
Does this sound lawful and legitimate? What do I do if Citibank sues me?? (Which I expect to happen as I cannot imagine them walking away from $26k.)
Does this sound lawful and legitimate? What do I do if Citibank sues me?? (Which I expect to happen as I cannot imagine them walking away from $26k.)
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