Credit Card Woes

What is the name of your state? Georgia

Recently, after missing 2 payments, Citibank turned our account over to a "litigation" company. We were contacted by this company and told that right now our account is in pre-litigation and if we did not pay 80% of our balance in 30 days or $1400 per month for 4 months that Citibank would file suit. He also told me that they could put a lien on our house, car or our business if we did not pay the debt entirely. I told him that if we could pay that kind of money right now, the account would have never reached his office ....(he was not impressed). I also asked if any other re-payment plan would be acceptable to the company he works for? He said he was just a litigation consultant working for Citibank and that after the 30 days the account will be in Citibanks hands again and that is when they will sue. He advised me to "go get a loan". Can any of his threats happen with an unsecured credit card debt?

Thanks!

[bigun]

If you're asking can you be sued over a cc debt the answer is yes. But, before things like leins happen you have to lose a lawsuit and that takes a lot of time. From your post and, sarah's, sounds like Citi is getting aggresive in collection activity.

Thank you, it is good to know that a unsecured debt is really not unsecured after all!

How long had your account been late, before they stated they were going to sue? Had you missed any other payments besides the two?... if not, this info is amazing... had no idea that credit card companies would act such!