Citibank judgement

[hanjenden]

What is the name of your state? Ak

I have seen several posts asking about settling judgements. Citibank obtained a judgement against me almost two years ago, but filed suit in the state where I previously lived, at an old address. I contacted them when they initially sent the summons to let them know I was no longer a resident of the state, and never heard another word from them.

Well, I still have not heard from them, but I did do a search, and see that they did receive their judgement. I am in school and only work part-time. I know that if they domesticate the judgement from La. to Ak. my wages would be exempt. The only thing I own is a 1998 truck with 130,000 miles on it. My name is not on any bank accounts either.

My question is, given my financial situation, is offering a lump sum payment for satisfaction of the judgement an option, or are they likely to tell me to take a hike? I have a friend who is willing to lend me about 65% of what the judgement amount is($21,000).

Thanks

[Debt Guy]

Q. Citibank obtained a judgement against me almost two years ago, but filed suit in the state where I previously lived, at an old address. I contacted them when they initially sent the summons to let them know I was no longer a resident of the state, and never heard another word from them.

A. It sounds to me that you have a good shot at having the judgment vacated for improper venue. You should contact a lawyer in LA to determine if that is correct and what the procedures are.

Q. Well, I still have not heard from them, but I did do a search, and see that they did receive their judgement. I am in school and only work part-time. I know that if they domesticate the judgement from La. to Ak. my wages would be exempt.

A. Wages in AK are subject to garnishment. The fact that you work part-time might keep the wolf at bay if you earn less than the threshold.

Q. The only thing I own is a 1998 truck with 130,000 miles on it. My name is not on any bank accounts either.

A. Agree that they really don't want your truck.

Q. My question is, given my financial situation, is offering a lump sum payment for satisfaction of the judgement an option, or are they likely to tell me to take a hike? I have a friend who is willing to lend me about 65% of what the judgement amount is($21,000).

A. Judgments last a really long time -- usually 10 to 20 years. Judgments continue to accrue interest and legal fees continue to grow. When you least expect it -- boom!

This debt may or may not still be owed by Citibank. Have you checked your credit report lately to see if there is anything that looks strange?

[hanjenden]

Thanks for the input DG. I guess I was wrong in assuming that Citibank still owned the judgement, I'll have to see if they do, or not.