Questioner: R.D.
Category: Collections Law
Private: No

Subject: citibank summons
Question: Last week I was served a civil summons from NCO Financial (a collection agency)'s attorneys stating they have a debt of $17,000 from a Citibank Mastercard I had some years ago. This came as quite a shock to me as this was the first I've heard about this debt since 2005. At that time I was contacted by NCO Financial about the debt, and I told them I had cancelled my card with Citibank the year prior because my card went missing and I suspected it had been run up with fraudulent charges. The card had a max of 10K and the civil papers listed the balance due at over 9,700.00 plus another 8K in penalties and interest. My point is this: I obtained a copy of my credit report just two months ago which listed this debt as being charged off by Citibank. I never filed a police report at the time but believe my card to have been stolen in 2004, which is when I called to cancel that card as I stated above. I am scared because they are giving me 30 days and then filing a judgement against me, I am a single mother with no assets other than my one car, and I cannot even afford to set up a payment plan at this time. In addition, many of the charges that made my balance so high on my card were not mine--any that occured after June 2004. What are my options?? Is NCO Financial really allowed to serve judgement against me even though Citibank charged this off more than 2 years ago? Please help, I'm distraught over how I'm going to care for my infant son if they take my wages, etc.

Answer: My friend and I were discussing this very thing at our monthly Oklahoma City Jurisdictionary meeting last Thursday night. Here is the video tape of that discussion which you can watch and learn about chargeoff.
Jim and Creditwrench CEO Bill Bauer discuss chargeoffs
Can they serve you with a judgment. Yes, they can and they probably will. And yes, they can take your wages. You need to learn how to fight judgments so that you have a crying chance of defeating their demand for judgment. If you would like to learn how to defeat their demand for judgment then you need to call me at 405-616-7901