What should I do???

[DoeWDW]

I think we all agree that the OP made a huge mistake by ignoring this debt, including the OP himself.

I am continually amazed that people post just to bash him for admitting he has made a mistake and now looking for some advice on how to put things right.

Sounds to me like he has admitted the mistake, it's in the past, and he is looking to clean up the mess. I say "Bravo!" for standing up and being responsible instead of just ignoring the court summons.

Once the mistake has been acknowledged, isn't it better to move on to finding a solution, instead of bashing past actions???? Hindsight is always 20/20.

 

[luvindisneyworld]

It seems to me there are Alot of people that have never made a mistake.

 

[LindaR]

Making a mistake is one thing..............running from it until you are tackled is a different thing!

 

[jenny2]

Lol, there's no need to put anyone on ignore - I just don't understand bashing someone who's looking for help! He admitted he'd ignored the debt - no one is saying this snuck up on him, or that he didn't have ample time to settle this. It sounds like he's ready to get this straightened out, and asked what he should do. What's the point in bashing him?? He's not trying to get out of it (at least it doesn't sound that way). All he can do now is damage control and work towards getting the debt paid down.

Sheesh...

 

[Sthronds]

I don't understand why people are so heartless? Obviously the OP already feels bad, why make him feel worse. I have been in his shoes, really recently. I too ran up a debt in college and then in the years after college as well. It was really easy to just get a new credit card instead of dealing with the ones I had. I had expectations of making money. I didn't make much and still don't. I was caught in a horrible cycle, where there wasn't any improvement. I sucked it up and asked for help. I got a loan with the help of my family and I am now paying a controlled amount every month. Would this be a possiblility for you? Could you find someone to help you? Paying a set amount every month that will not change is very do-able. I have a huge weight lifted off of me and I am a happier person because of it. I will be paid off in a couple of years, and I can still afford to go on occasional Disney trips. Good luck!

 

[AllyandJack]

I think it's like a health problem. You KNOW you're sick, but you've let it go this long that you're terrified of what will happen if you confront it head on. So, you just pretend it doesn't exist and you don't go to the doctor to take care of it.

I can't speak for ALL collection attorneys, but I know my old firm and all the firms we worked with in the coverage network were better to deal with than the collection agencies. They were our clients sometimes and they were horrible to us. When they act like jerks and threaten to send you to litigation, tell them to go ahead and you'll deal with their lawyer.

Nothing horrible is going to happen by dealing with it. If you're honest and forthcoming, they're not going to break your knee caps or ruin your life. It's when you try to run that you get in trouble. But, it's a common reaction. The OP may have been afraid to deal with it. It's a scary thing when you owe money and can't pay it. It's scary when you find a tumor that might be cancer. Some people hope it will just go away. Even going to court isn't a huge deal...in MA, the only time we can toss you in jail is if you fail to appear in court or fail to make scheduled payments. We have issued warrants for arrest in those cases.

We had all types of people who didn't pay their bills....some we were nice to, some were just jerks and we weren't so nice to them. But, if someone came to us, honestly, trying to fix the problem, it was fixed, the debt was paid and the person was able to sleep at night without this hanging over their head.

 

[Disney Doll]

I think we all agree that the OP made a huge mistake by ignoring this debt, including the OP himself.

I am continually amazed that people post just to bash him for admitting he has made a mistake and now looking for some advice on how to put things right.

Sounds to me like he has admitted the mistake, it's in the past, and he is looking to clean up the mess. I say "Bravo!" for standing up and being responsible instead of just ignoring the court summons.

Once the mistake has been acknowledged, isn't it better to move on to finding a solution, instead of bashing past actions???? Hindsight is always 20/20.

Actually, it's not in the past...it's right here, biting him in the butt, as these things tend to do.

I would have been more immpressed by the proclamation of "willingness" to make things right had he had this willingness when he received the first credit notices, not when he received the summons to court. That points to being a little less than "willing" to pay one's debt.

He's received some very good advice here, some of it from folks who have worked in the credit and banking industry. It's probably not advice he wants to hear, as it requires some sacrifice, but it is necessary advice.

Make the necessary calls to the lawyer and/or CC company and get ona payment plan. Cut your expenditures to the bone (and yes that may very well include not buying gifts for a while) and put every available extra cent toward this debt. Pick up a second job, pick up a third job if you have to, but get it paid off.

Assuming you graduated college somewhere between the ages of 22-25 and you are now 37, it means Citibank has been letting you get away with this debt for at least 12 years. I think they've carried you long enough.

So do something, other than think of reasons why you don't want to buckle down, change your lifestyle and pay off your debt.

 

[Disney Doll]

It seems to me there are Alot of people that have never made a mistake.

Actually, I have never made the mistake of living beyond my means and then not paying my debt for 12 years or more, until I was threatened with court action.

 

[CajunDixie]

Canceling the trip isn't going to put extra cash in our pockets and will only hurt my mother,

But your mother won't be hurt or upset when your name appears in the paper as being sued for 11K? Sorry, but if I had just given my son a huge vacation and he took it only later to see him being sued for a huge debt from years ago I'd not be happy at all. Trips can be rescheduled; relationships can't.

Now no bashing from me instead I'll advise you to do as jenny2 did and go over to creditboards.com and you'll find great advice (without all the "grow up" comments) there. My guess is they'll try to get you to first validate the debt with the current creditor.....basically this is just buying you time to work out a plan.

 

[AC7179]

Sorry that you are going through this. I know it's no fun. My debt is smaller (3K) and I've been paying on it---but GEEZ it seems like it will never go away. Good luck finding a payment plan that will work for you and enjoy your Disney trip. What a nice mama to give you the trip as a gift!

 

[DVCJEN]

You said your truck is nearly paid off. Have you considered re-financing the truck and paying off the card, or at least putting a dent in it that way? Or a home equity loan if you own a home? Many credit unions will work with you to help payoff collections and judgements if you have some collateral to put up. Immediately call the attorney and try to work out a payment plan. Otherwise, once the judgement is granted your accounts, your property and your income tax refunds can all be attached until the debt is settled. Be sincere and upfront with the attorney. They want you to repay so they very well may be able to work a deal with you.

 

[Crankyshank]

I don't think it's just the vacations and the fact that he admittedly ignored the significant debt he's accrued that has people riled up. He also seems to be filled with excuses and it sounds to me he doesn't really want to compromise the lifestyle to which he's become accustomed to.

Before anyone gets all indignant on me, I have had a significant amount of debt paid off and am still paying off, so I do know what I'm talking about. The OP has gotten many excellent tips and a lot of good advice and those posts have strangely been ignored in favor of his defending his right to WDW.

 

[EthansMom]

I guess I don't understand why you've been concentrating on paying off other debts, but haven't apparently been making even the minimum payments on this credit card? I'm not trying to blame you, I just think you need to change the "head in the sand " attitude for the future.

What would I do in your shoes? I would be on the phone SO fast to Citibank and/or the attorney's office to arrange a payment schedule and/or settlement. I would do whatever was necessary to make sure the card was paid as agreed upon.

 

[dis ms.]

As someone who works in the banking industry here is the advice I am going to give you.

1) Contact Citibank IMMEDIATELY! Find out if there is any amount you can pay now towards the debt in good faith that you will continue to pay the rest. Work out a payment plan. Citibank does not want to have to come and collect your items - they are to big to be interested in that. But they will do it if you give them no other choice.

2) Great job on paying off your truck and other various loans. However you do realize that this one Citibank card is going to ruin your credit? You now need to concentrate all of your available funds towards the Citicard. As a business owner it is not a good idea to have bad credit.

3) Once you work out a payment plan- pay more to it. Citibank is not going to go away.

4) You could go to a credit advisor if you can't work out a payment plan to Citibank. Or you could also file bankruptcy. I don't really reccommend either since they are black marks on your credit. Again it doens't look good for a business owner to file bankruptcy.

5) We all rack up debt in the college years. I know I've done it as well so I completely understand where you are coming from. The best thing to do is own up to your mistakes and pay it off.

Go on your trip - but if you don't think you can keep it to a $1000 then cancel it. No sense in going into even more debt. Also tell yourself now that any tax return you receive is going to go towards that $11,000. Make no other plans for the money.

There seems to be an awful lot of judgemental people on this thread. I don't think you meant to get this kind of backlash, but some people take it personal when others didn't do as well in life as they did. I say ignore those people and concentrate on what you can do.

~Amanda

Amen, sister!

Wow--the OP asked for advice and someone actually gives him advice instead of judgement, criticism and insults!

You know, he wasn't asking us to understand or even sympathize with the fact that he accrued (and ignored) such a sizable debt. He was simply asking for advice on how to do what he now knows he should do: fix the problem. He knows he made a mistake. Geesh!

ETA: I don't really have any advice beyond what's already been said here. So, OP, good luck with your situation. I really hope you get it worked out.

 

[Mimi Q]

I hope you can get your financial problems straightened out soon.

 

[kelleigh1]

I'd be willing to bet that at this point, while he may still be reading this thread, he's probably not going to post again simply because he's tired of getting slammed. Granted, he posted on a public forum and people think that means it's open season for them to say whatever they want. He asked for advice because he simply didn't know what to do at this point.

It's very easy to say "grow up" or you should have taken care of this before. But guess what...he didn't. And no matter how many people berate him, he can't turn back the clock and change the past. He needs to move forward and fix this now.

I don't think he's ignoring any of the advice that was given. He's simply given the reasons why cancelling his trip wouldn't really help to pay off this debt. And maybe, just maybe, he's embarassed to admit to his mother that he got himself into this situation. So he's trying to find out what he can do now to resolve the issue. Just because he doesn't cancel the trip and ask Mommy to pay off the debt doesn't mean he's going to jail. He's been given some very good advice from people who really know what they're talking about on what he can do to deal with the problem. Hopefully he'll be able to weed out that advice (seems pretty obvious to me) and get it straightened out.

And hopefully...everyone here will learn from this and teach their children how to handle finances! My IL's didn't teach their son and now at 35, he's just learning. But he's learning!

 

[sweet angel]

I can't believe this went to 6 pages. The OP clearly stated that he and his wife were both looking for part-time jobs. He further clearly stated that the Disney trip (as well as the $1000 spending money) was a gift.

So how is it that some responses accuse him of not being willing to do what it takes, and all the while blow money on vacation?

Totally, totally ridiculous. I'm sure glad that my family and friends are not as judgmental and unforgiving as some posters here.

 

[JPN4265]

Ok, I guess I missed something. Where did he say he wasn't going to pay his debt?

I would say by his own example. By not paying the debt and only addressing it when the courts forced him to is an example of not paying your debt. The man is 37 years old, he should have learned some responsibility by now. I think he is looking for any excuse not to pay this debt and still go to disney world. It doesn't matter that the trip is a gift and includes $1,000 in disney dollars. You and I both know that he will over spend that $1,000's. He could put the trip off and use it as a reward for when the debt is paid off.

 

[sweet angel]

I would say by his own example. By not paying the debt and only addressing it when the courts forced him to is an example of not paying your debt. The man is 37 years old, he should have learned some responsibility by now. I think he is looking for any excuse not to pay this debt and still go to disney world. It doesn't matter that the trip is a gift and includes $1,000 in disney dollars. You and I both know that he will over spend that $1,000's. He could put the trip off and use it as a reward for when the debt is paid off.

This is ridiculous. He's GOING to pay it -- that was the point of the post.

How do "You and I both know that he will over spend that $1,000's" ????

Oh right, no one ever learns from past mistakes or can change behavior. You're absolutely right -- the OP is doomed to a life of poor money management and bad credit for the rest of his life.

 

[MICKEY_MOUSE]

As someone who works in the banking industry here is the advice I am going to give you.

1) Contact Citibank IMMEDIATELY! Find out if there is any amount you can pay now towards the debt in good faith that you will continue to pay the rest. Work out a payment plan. Citibank does not want to have to come and collect your items - they are to big to be interested in that. But they will do it if you give them no other choice.

2) Great job on paying off your truck and other various loans. However you do realize that this one Citibank card is going to ruin your credit? You now need to concentrate all of your available funds towards the Citicard. As a business owner it is not a good idea to have bad credit.

3) Once you work out a payment plan- pay more to it. Citibank is not going to go away.

4) You could go to a credit advisor if you can't work out a payment plan to Citibank. Or you could also file bankruptcy. I don't really reccommend either since they are black marks on your credit. Again it doens't look good for a business owner to file bankruptcy.

5) We all rack up debt in the college years. I know I've done it as well so I completely understand where you are coming from. The best thing to do is own up to your mistakes and pay it off.

Go on your trip - but if you don't think you can keep it to a $1000 then cancel it. No sense in going into even more debt. Also tell yourself now that any tax return you receive is going to go towards that $11,000. Make no other plans for the money.

There seems to be an awful lot of judgemental people on this thread. I don't think you meant to get this kind of backlash, but some people take it personal when others didn't do as well in life as they did. I say ignore those people and concentrate on what you can do.

~Amanda

I agree 100%..

wow, first time for everything!!