Posts: 3
Credits: 167


Send message to kisim
Sub: #1 Please help! CitiBank debt
Replied on 01-18-2010, 07:00 AM
Reply With Quote

I am about $13K in debt. Pretty soon, my 0% interest offer will expire, and I will have a 21% APR. I have been unemployed for the past year. I also have student loans. I can and will not ever be able to afford my credit debt now. I also need to go back to school so I can actually get a job. I am thinking about letting my card go delinquent and negotiating a settlement. I can't afford anything else. But I'm afraid of getting sued. Do you have any advice?

Sub: #2
Replied on 01-18-2010, 02:18 PM
Reply With Quote

Citi is notorious for suing, so I would tread cautiously here. That's not to say they WILL sue, but during my time working for a settlement company, many many many of the summons accounts that I saw were Citi accounts. They will settle, but the average settlement with them is around 50%. Are you current on your payments right now? If you are considering settlement, I would let the account charge off, save up approximately $6,000 and begin negotiations. Start by offering a small, lump-sum settlement and work from there.

Last edited by SOAPLADY; 01-18-2010 at 04:30 PM.
Posts: 6
Credits: 352


Send message to Bugstarr
Sub: #3
Replied on 02-15-2010, 09:10 AM
Reply With Quote

I spoke to a citi bank employee for a settlement they said they would settle for 30% in three payment over three months. I am waiting for the letter.




«Previous Thread | Next Thread»
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes
Linear Mode Linear Mode

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -8. The time now is 09:04 PM.





About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds| Terms of Services
* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.063 seconds.