Legal Question in Credit and Debt Law in Mississippi
Collection
In 2005 I lost my job and couldn�t keep up with all of my bills. Up until then, I always kept my bills up to date. Since then I have started a full-time job and have been working to pay off some of my debts one and a time while trying to avoid bankruptcy. I am up-to-date on all of my current bills.
One creditor, Citibank, is being represented by a law firm. I received a summons from Circuit Court. Before the summons they tried to contact me. They called me and they called my mother�s home several times. I tried calling them back on several occasions, but I always got their voicemail. I work during the day, and it is difficult for me to have personal conversations while I am there.
I always intended on getting this debt taken care of and just wanted to know what some of my options are. I have until Friday, February 13 to respond to the summons. I have been trying to find the means to pay for this debt, but I have been unsuccessful. The amount is approximately $3800 and would be impossible for me to pay at once. I do think that the amount seems a little high. The last payment on this account was made in January 2006 and the charge-off was in July 2006.
Any advice would be helpful.
1 Answer from Attorneys
Re: Collection
When I represented creditors, they were usually willing to enter into some type of payment plan rather than litigation. However, they usually want 20-25% as a down payment, and you would likely have to sign a promissory note.
I would call the attorney representing the creditor and ask about the possibility of a payment plan. But, remember, anything you tell them can be used by them to help recover the debt.
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