After reading a few posts here today I have found out that I really shouldn't continue ignoring the Discover lawsuit threat by July 31. Is citibank as bad? I have 2 citi cards,( Plat & ATT&T) 1 texaco (citi) that total over $10,000. 1 MBNA for $9000, 1 Chase for $2500, Citi is about to goto collections, MBNA is being pretty quiet, 90 Days Past, 1 BOA $5000 that's been turned over to NCO. Any advice, other than to call Discover and work out a plan quickly?
MBNA will sell your account to wolpoff and Abrahmson. They WILL sue you so be prepared to fight them if you choose that route. Gather as much defenses and countersuits as you can when this happenes.
Have you tried talking to any of them? Most of them have hardship programs, if you have fallen on hard times, but can get back on your feet within about 6 months.
From eralier discussions with them, the only one that seems do really work with you is discover. Citi bank hasn't really offfered to lower my payment, and usually for only 3 months at a time. But I will try to talk with them again. I had read Budd Hibbs web site, and he states that in most cases, if I stop paying, they will not seek legal action. Just walk away and come back later when I'm able to pay and bargain with them. After reading this very helpful board for the last several days, it seems that at least two, Discover, MBNA are sue happy. I own my own company, S Corp, and have little personal assests as well as income. Company, of course, has been hit by drop in sales because of economy. I have been focusing my efforts on paying company bills so that I won't lose it. I don't know what effect personal lawsuits have on sole shareholder of S corp. I haven't been able to find out a lot of info on this situation. I sold my house last year, and did pay off a large MBNA loan, although I still have a platinum with them for $9000. I will keep on reading, and call each creditor to try to work out a lower payment and interest/fees. Thanks for asking breeze.
Good luck working things out! Unless things have changed, with a S corp, everything flows through. With Citi, I think you have to be behind a certain amount before they will do anything. We have a former Citi rep around somewhere, maybe he'll see this and respond. Sorry you're having troubles.
Thanks again Breeze. Yeah, we all some troubles from time to time. Nature of the beast. I'll keep reading here and try to make it through it as best as I can. Lot's of excellent advice in here. I've been glued here for days now.
Breeze I did talk with Discover today, they were very nice. Set me up on a dcent plan, and stopped fees and such. Seem pretty concerned. I feel much better. Thanks for the advice.
