collateral security by citifinancial
July 6th, 2008 by Questions
I just filed for bankruptcy in May 2008. I had a loan with citifinancial with the furniture of my house attached as security. The collateral security amount is $8000. When i applied for the loans, the terms were not clearly explained, questions like to have a living room suite is your house? I will say yes..then how much is it worth?
now they are asking me to pay them $5500. i told them that as a bankurpt, i have no such funs, and also the goods are not worth that much if i was to apply a garage sale value to them. Also, as it happens, some goods are my wife`s. what can i do? can there take the goods even if they belong to my wife? how can i better negotiate with them?
thank you for your help.
Posted from: British Columbia
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)