Citigroup What I Had To Do To Make Them Honor A Settlement Agreement Roanoke Virginia

See my associated rip off report on the $100,000 judgment I won against CIT Group for the details, but, in 2005, the CIT Group reported me in foreclosure on a home when I was not in foreclosure. I sued CIT Group and won. However, when the CIT Group made their report, three of my creditors -- Bank of America, JP Morgan Chase and Citigroup -- used cross-default provisions in their line of credit agreements to raise my interest rate from the 4% - 6% range to 32%+.

In response, I sued each of them, and, when the court ruled that CIT Group had libeled me on my credit report, both Bank of America and Chase reluctantly agreed that the cross-default provisions on my lines of credit had not been triggered. Citibank, though disagreed.

In fact, Citigroup insisted in federal court that the cross-default provision of my line of credit agreement applied even though the "default" that was reported by another creditor had been ruled libelous.

When it was clear they were going to lose, I reached a settlement agreement with Citigroup. I cannot discuss the full terms of the agreement, but I paid them the entire principal plus the proper interest for the entire period of default. I never disputed the obligation itself -- only the increased interest.

Once I paid them, though, making them honor the settlement agreement was difficult. To do it, I had to this:

First, I determined their litigation management department was based in Kansas City, Missouri, and I began calling each of their 2200 employees in that facility until I found one I could talk into releasing to me a copy of their corporate phone book. After I got that, I made a few bogus phone calls to litigation management to find the name of the head of their litigation management department. After I got that, I tried calling her directly and she was less than responsive. She referred everything to the attorney, who communicated that they would honor the agreement, but would do so at their leisure -- not in an expedited manner.

Left with no choice, I had to find out where this girl lived and sent two guys to her house to discuss the account and why dhe had spent the past two years making my life difficult. Her refusal to correct my credit report was holding up an $88,000 business deal and I felt the money was worth the risk of her being a bit upset at my tactics.

Now, her lawyer did file a protest with the court and threaten an injunction against me -- though they never followed through with filing it -- and I have agreed not to post the names and addresses of senior Citigroup officials on websites such as this, but I can affirm that, the very next day, Citigroup honored the terms of their settlement agreement in full and the results were well worth the risk of the rough tactics.

Bill
Roanoke, Virginia
U.S.A.