possible garnishment

[bigsister62]

i am currently dealing with a company called Debt Remedy, i have submitted all my credit cards and small loans totally around $25,000. i was told that i had to pay their fee for 1 year and then take 5 years to pay off my debts. Debt Remedy contacts my debtors after i have sent them notices saying that the accounts were sent to collection agencies. Debt Remedy contacts the debtors to lower the amount due. One of the debts that i have is with a company called Citifinancial. I have a loan with them for roughly $8,000. They have sent it to a collection agency. I am still getting calls from Citifinancial with threats of taking me to court. Can they do that? Can they garnish my wages? I mean once its gone to a collection agency would those threats come from the actual loan company or the collection agency? and are these just threats to get their money. Debt Remedy received a payoff amount for Citifinancial. What are my options? thank you mary

 

[bigsister62]

not quite sure how this works i sent a question about possible garnishment can someone please let me know what my options are. not sure if i mentioned it but citifinancial had sent my account to collection and they agreed on an amount i need to pay with debt rememdy. can they still take me to court? thanks mary bigsister62@hotmail.com

 

[JohnMacek]

First off...
Debtor: "one who has the obligation of paying a debt"
Creditor: "one to whom money is owed by the debtor"

If Citifinancial has sent your account to a collection agency, you most likely are getting calls from that agency, as they have assigned it to the collection agency. They cannot garnish your paycheck without a judgment.
Was your agreement to make payments in writing and "in forbearance of suit"? If not, they (or their assignee) can always sue you to protect their interests.

 

[Lpottorsov]

Re:

Once the case is gone to a collection agency and once you had the terms with the agency regarding the repayment schedules, the actual loan provider cannot call you and threaten which is a violation of the code of professional conduct. In your case, I feel that your options would be to get protected by the FDCRA with the help of an attorney.