| Message |
Author |
 Posted: Mon Nov 26, 2007 7:57 pm Subject: Citi financial personal loan.......help! |
|
|
Roughly 6 months ago I took out a $7,000 loan with 22% interest for 5 years to make some house repairs...spending money..etc and thought I could afford the $220 per month payment. Well I should have thought about it twice because I can't. Turns out i'm living bare bones!  What can I do??
|
|
dave79
Joined: 26 Nov 2007
Posts: 6
Debtcc Points: 273
|
|
|
| Posted: Mon Nov 26, 2007 8:04 pm Subject: |
|
|
Hi dave79!
Was this a signature loan or attached to collateral of some kind? Have you called Citi to talk about alternative payment terms ( a possibility)?
|
|
volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4177
Debtcc Points: 24901
|
|
|
| Posted: Mon Nov 26, 2007 8:08 pm Subject: |
|
|
I'm guessing it was a signature loan.....no collateral. I haven't called them about it. Is it worth it calling them? What would I say?
|
|
dave79
Joined: 26 Nov 2007
Posts: 6
Debtcc Points: 273
|
|
|
| Posted: Mon Nov 26, 2007 8:13 pm Subject: |
|
|
I would definatly call them and talk because Citibank isn't very nice when accounts become past due for too long of a time.
I would just tell them your circumstances and ask if they can help.
|
|
FYI
Moderator
Joined: 18 May 2006
Posts: 1798
Debtcc Points: 16687
|
|
|
| Posted: Mon Nov 26, 2007 8:14 pm Subject: |
|
|
just talk to them and explain your situation.
_________________
when rich people hit rock bottom, they fall hard; people like me, we just roll over.
|
|
granny
Joined: 07 Sep 2007
Posts: 449
Debtcc Points: 8189
|
|
|
| Posted: Mon Nov 26, 2007 8:17 pm Subject: |
|
|
An interest rate reduction would be a big help to you...a few people have posted here about success with American General (similar to Citi signature loans). I would absolutely call them and explain that the payments are becoming an issue, that you would like to keep the account in good standing and can they help with the interest rate?
Since the loan is just 6 months old, has your situation changed at all to make it so its tough to pay on?
|
|
volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4177
Debtcc Points: 24901
|
|
|
| Posted: Mon Nov 26, 2007 8:23 pm Subject: |
|
|
I can tell you my car is financed with some of the biggest a-holes that walk the planet. And this worked for me when I was behind.
The best thing to do is call them and level with them and say THIS is what I can pay to you. THIS is what I can afford. You will have to stand very firm with them. And whatever you tell them you will do..DO IT. Don't overpromise them.
If you can't get a good answer from the first rep, try again.
Follow it up with a letter, outlining the details of your repayment plan. And most important, stick to it.
Citi Financial is known for being hard to deal with. You just have to be harder. Good luck!
|
|
Jessi
Moderator
Joined: 01 Dec 2005
Posts: 3461
Debtcc Points: 20257
|
|
|
