Subject: credit card debt
Question: i have amounted a great deal of credit card debt and when my husband lost his job a few yeas ago we couldn't pay. we are a a time when we can begin to repay some of these debts and are trying to do so one at a time.. i obviously can't pay them all at once. i have a law firm sending me letters of intent to sue over $10000 owed to citibank. i spoke to a rep that told me that they would deduct 200 for the next to months from my checking to show an intent to pay while i finish out the pay arrangements with other creditor. and then we would discuss settlement. however the check hasn't been withdrawn and I recd another letter from them with an intent to sue.. what do i do at this point? should i make the payment myself directly? can they still sue? What is my next step?

Answer:

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They can sue you and they can garnish wages, seize bank accounts, possibly seize vehicles that are free and clear of debt, boats, trailers or anything that has a title to it registered with the department of motor vehicles in your state. It is also conceivable that they could send a sheriff to your home to see what they can find to sell. You need to become a creditwrench student and learn how to keep them from grabbing everything you have.