They are responsible for a lot of commercial loans .
QUESTION: Jan is filing for Chapter 7 bankruptcy protection. Jan owns her own home, which is worth $75,000, and upon which Jan owes $60,000. Jan also owns a $20,000 diamond ring, which was given to her by her ex-husband. Which of the following is true about Jan’s bankruptcy? A. Jan may exempt her equity in the home, but she shouldn’t be able to exempt the full value of the diamond ring. B. Jan may not exempt the full value of the equity in the home or the full value of the diamond ring. C. Jan may exempt a portion of the value of the diamond ring, but she may not exempt the full value of her equity in the home. D. Jan may exempt the full value of the equity in her home and the full value of the diamond ring. I'm thinking that the answer is A. Am I right?
I live in Missouri, if that makes a difference... I defaulted on my credit cards about 3 months ago, due to the fact that I was laid off months before that and unemployed. I only recently found a job and it is barely enough to scrape by an existence on. Anyway, I contacted all of my credit card companies (4 of them) and informed them of what was going on... and in no uncertain terms that I was (and still am now) at a point of barely having money for food and shelter. I also referenced something from the fair debt collection act because they had started violating it by harrassing my mother. I also requested that all communication be in writing. They all complied except one, Citibank... who has continued to call at least twice a day, every day. This is in violation of the fair debt collection act, but I chose to ignore it. Then today, I received the following letter in the mail. I am trying to decide the smartest way to proceed. Keep in mind that it has only barely been 3 months since I defaulted, and that I communicated with them (truthfully) the fact that I literally had NO MONEY to make payments... only enough to feed myself and provide for basic needs. Here is the letter: -------------------------------- Re: Your indebtidness to: Citibank (South Dakota), N.A. -CITI MASTERCARD Balance: $2600.00, attorney fees (where applicable), the exact amount to be determined between you and us or by a court Dear Mrs. XXXX: This office represents the above referenced creditor. At this time, no attorney with this firm has personally reviewed the particular circumstances of your account. We understand that you may have requested communications cease in reference to this debt. However, this firm has now been retained by the above creditor. Therefore, as required by Federal Law, we are hereby advising you that Citibank (South Dakota), N.A. intends to file suit against you to recover the balance due. Unless you dispute this debt, or any portion of it, within 30 days after you receive this notice, we will assume that it is valid. If you notify us in writing within the 30 day period that you dispute this debt or any portion of it, we will obtain verification of the ebt or a copy of any judgement and mail it to you. If the above creditor is not your original creditor and you submit a written request within the 30 day period for the name and address of the original creditor, we will supply such information to you. If you do dispute this debt in writing in the 30 day period, we will pend collections until we send you verification. In you contact our office please call XXXX @ XXXXXXX. This communication is from a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose. Sincerely, Berman &Rabin, P.A. Attorneys at law 15280 metcalf overland park, ks 66223 Please return with your payment. Make checks payable to Citibank (South Dakota), N.A. --------------------------------------… Now I am not sure what my next step should be... request debt validation? Offer a low settlement offer under a payment plan? Attempt to call them out on their violations of the FDCA? What do you all think? Or... should I go ahead and go for bankruptcy? I would easily qualify for chapter 7, I have nothing really. I didn't want to file bankruptcy, but if it is the smartest option I have available to me, I will do it. Is it time to do that or are there other things I should be trying first in response to this letter? My total debt on my credit cards is around $12000, if that makes any difference. This one with Citi is about $2600.
do to reduce my working day of the man I sought help from a debt managment / settlement company to help me settle and pay for my last four cards and the enormous financial bill Citi , I have 21 days late just enrolled in and citizenship program is already threatening legal action over the phone, can now do that im not 90 days or anything and I'm working hard to get this debt paid , and I guess anything is better than bankruptcy will not waste myHouse ! help
HERE'S OKA SPILL. I HADE A CAR LOAN WITH CITI FINANCIAL AUTO . I called to make a payment on my loan in March 08 ' They told me that my loan was paid in full. I thought it was a mistake , so I called several times and was told the same thing. I was 8 months pregnant and was on bed rest, so I thought someone in my family was worth . My father admitted pay . A few days later I received a title to the CAR , a letter from CITI - Finacial thanking me for my business . , AND LOAN AGREEMENT SIGNED ORIGINAL THAT HE PRINTED IN REPRESENTATION paid in full . So I was in seventh heaven ! WELL ON JULY 08 ' I sold the car B / CI HAD A MUSTANG WAS HARD TO INSTALL A BABY SEAT IN IT ! LOL ! In November 08 " A COLLECTION AGENCY called me and said he owed more than 2,000 in car payments in arrears. I told them it was a mistake MY CAR WAS PAID . I fax the letter and the loan contract and never hear another word. Now I get a call from another COLLECTION AGENCY TRYING NOT HAVE A CAR REPO . SAID THE CAR IS NOT PAID ! WHY DO I GET A TITLE , letter, and stamped PAID IN FULL AGREEMENT THEN ? ? ? I called my father in law to see if they had a copy of MONEY ORDER AND SAID NO LONGER as it had been for a year. THE COLLECTION AGENCY says my father did not pay ! WHAT SHOULD I DO ? ? ? ? WHAT IF MY FATHER IN LAW NOT PAY AND CITI - Finacial MSITAKE MADE HUGE ! I DO NOT KNOW WHAT TO BELIEVE . CAN I TAKE TO COURT? Suffice to say CITI FINANCIAL DID GOOF UP AND SEND ME ALL THAT ACCIDENT Can they really do anything? ? They sent me a title! I'm really scared . I will continue to CORTE and garnished my check ? My father - in-law REALLY PAYS? I need some guidelines established !
The recession wounded me very badly. I have been unemployed since October 30, 2008. I filed chapter 7 bankruptcy protection in 2010. I cannot pay back my student loans and default on them and wish they were covered in bankruptcy protection. I graduated from college in May 2008 with bachelor degree in physics. After filing bankruptcy i immediately had a 70 mph car crash where i almost lost my life. Afer 2 month hospitalization bill reached 100,000 and i keep defaulting on that. I have judgments against me. My credit totally ruined. Now I owe even more than what I owed befoe filing bankruptcy. My situation has been the worst case scenario of recession. I gave Obama my vote in 2008 because I had lot of hope
What is a recession , and it is good / bad for the ordinary working man who has no money invested in stocks ...
I totally cut my expenses . Do not spend your money on anything , for any reason , except food , gasoline car mortgage , electricity , and water. Even more paid online . I use unsecured neighbor router . I can obtain unemployment benefits and 3 other people in my house are receiving unemployment benefits . We have been living on it for the last few months and so far it is helping us to live . Our latest car payments and eventually default intentionally car insurance to save money
What are the differences between the Great Depression and the recession
who have bad credit or have been through Chapter 7 bankruptcy ?
Do you think there will be another Great Depression ?