It is too late for me, but for all the others out there, be very careful. I received a CitiBank Gold Card upon coming out of college. Who else but a company run by the Teflon Don would give a recent college graduate a gold card with a $10000 limit? Of course, I got a job and maxed out the credit card, living la dolce vita. Then the managing partner, an attorney who couldn't argue his way out of a paper bag, mismanaged the organization, and my job (and others) were eliminated to pay off the ex-managing partner (PENTAD ENTERPRISES).
I tried to make payment arrangements with CitiBank while looking for a new job, doing quick jobs at the local employment agencies. CitiBank kept saying they couldn't do that. They drove their point home when the Sheriff's Department served me with a warrant. That's right. CitiBank decided to sue me for the entire $7198 (yes, that's what I owed) rather than discuss payment arrangements with me. I filed Chapter 7 bankruptcy, because if I could have paid $7198 to them, wouldn't I have done that in the beginning? Of course, bankruptcy opens up a plethora of new problems, like dealing with Equifax, Experian (the worst!), and TransUnion.
I have learned, many years too late, that when CitiBank wouldn't agree to payment arrangements with me, according to the creditors/debtors rights and regulations act, they rendered the debt null and void. So if this happens to you, do not pass go, do not collect $200. Go directly to the local Attorney General's office and file a complaint. Don't be stupid, like I was!
0 comments