It really is fraud to signal a loan document once you learn you cannot spend it.
When it is in collections, your loan has already been into the worst state that is possible. Accepting a far more loan that is expensive fix that loan that is currently because broken as possible, could not be much more stupid. Collection agents can NOT force you to legally do that. Do not be seduced by this trap. Do not produce another debt that is bad your self and spend that collection agent their payment check. Alternatively, require a repayment arrangement using the collection agency. When they refuse, deliver repayments anyhow, keep careful documents, and in case it results in court you are able to prove your good faith and show that the collection representative had been uncooperative.
Moreover, there’s no such thing as an instalment loan with increased favourable terms in the event that interest is greater than the price on the charge card. The payment that is minimum your bank card is the littlest feasible re re payment very often calls for a century to clear your debt. You should be applying that interest instead to your monthly credit card payment if you can afford the higher interest on a citibank loan.