Legal Question in Credit and Debt Law in California

Citibank lawsuit for c/c debt

i just want to know if i should continute to settle with the collection's attorney or should i just go to my court date. my original balance is $4800. interest accrued is $2800. summons fee of $197. that sums up to $8000. the collections attorney will settle at $6000. i can only pay $4500 right away. what should i do to have this man agree with this amount? thank you!!!!

--name removed--lo


Asked on 6/17/04, 2:43 pm

1 Answer from Attorneys
Fred Saigh

Re: Citibank lawsuit for c/c debt

Attempt to settle the debt at $4500 since this is over 50% of the balance owed. Usually, collection agency's will accept a lump sum settlement at 50% of the balance since getting a judgment is only half the battle of collecting the money.

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Answered on 6/17/04, 8:35 pm


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