Citi settlement offer

Hi there;
I just got offered a 45% on 6600.00. 3 payments,(90 days out) with a debit or checking (I would not do a checking but I hear doing s debit card is safer and better)
Problem is, he is telling me it will go to collections if I dont agree to it by 3:30 today his time.Im in Ca.. but he said there is a 3 hr time difference.
I can pay him 65.00 bucks to keep it from going to collections for another month or make the deal today with 3 equal payments,
He said he cannot email or fax a agreement (laws he has to follow) but he can postpone the first payment til Dec 14 and he said I will have the settlement letter in 5 to 10 days from today if I agree.
I also have another card to settle that is about 10K with them but he said he isnt assigned to it and it isnt ready yet anyway.
I also have 2 B O A Im trying to settle but again they wont be ready til mid Dec.Im concerned if I were to get good offers from all that I wont be able to settle with them all if the offers come around the same time.. It will be hard enough to jsut make these 3 payments and be done with it.
Any ideas?

I personally would not send any $$ for a settlement until I get everything in writing- I had a similar situation with Chase. The lady I spoke to told me I would have to make a payment before they would send an official settlement offer, etc etc. I refused and called back a week later- guess what? They faxed me over the settlement letter within 24 hours and my first payment was due in a week so I had time to mail a money order- which I did.

I am in the same boat as far as trying to settle multiple accounts all at the same time. I went deliquent on my 8 CCs all at the same time, so they are all coming up late all at the same time. I have 2 accounts settled now though. I'm just going to call several of the other creditors when I have more funds and see who is willing to work with me on the amount I have available and go from there.

Hang in there!

Citi said I just need to commit to the 45% and give a account or debit.. If I do then he will charge it the 65.00(minium to keep me from collections so he says) but not til Dec 5th, or the 14th, which ever I choose.In the mean time I will have a letter in my hand in the next 7 to 10 days stating the offer and that I accepted ect. That should be well before the big payment of 1000K is due.(I will need to do 3 of them)

He did tell me that Citi is doing offers earlier than 120 days as it is getting towards the end of the yr. And I will get a 1099, its no big deal..
He said 45% is it cause I had used the card prior to not payin gon it(food , rent ect) but he said that does not matter..he has been pleasnt to work with and I feel straight forward.

i wouldnt worry so much about the 1099 you know about form 982 correct? this form you fill out to prove exemption from paying taxes on it. good luck to you!!!

Just so you know, I did my settlement this way.
IF you have a PayPal debit card, they will accept this.You can load it anytime, and it is totally safe. They cannot see or retreive your bank info.
I just need to make sure that I have the amount agreed upon in there on the date they will debit. Which is super easy to load a PP card.
I just had to pay a minimum today to keep it from Collection (Still not sure if I really beleive this) and then I will have the settlement letter in my hand before the first big payment is due in December.If there is a descrepancy of any kind I will call my "GUY" at Citi (he said I will always talk to him thru this whole process til its PIF, and so far I have called him 5 times today to get this whole thing settled) he always picked up.It is worth it.
Now one more Citi and 2 more BOA to go, so far no offers, but should be soon.and I will do them all with a Debit.If for some reason they take out more you can contest it with PP.
has anyone done it this way before?Im just curious.

NeverNeverNeverNeverNever pay ANY money without a settlement agreement IN WRITING. Alternately, record the call, ANNOUNCE that you are recording the call, and have your "GUY" describe in the recording the ENTIRE agreement. You will probably be surprised at his reaction...

I havent paid him a dime yet.. and there is only 66.oo bucks in the PP account . so they caht do anything with it at this point but take the 66 I owe to be able to get the 45% settlement.my "GUY" said I will have the letter in my hand by the time the big payment is due.I have signed nothing.He can ahve the 66 right now big deal. But as of tonite it is still there and no one has debited the PP account.IF I do no thave the letter as he promised, I do not make the big payment on Dec 14th I told him that.I told him I wont pay anything but the 66 til I see the letter.. so there ya go..
This isnt my first Rodeo..

Citi WILL NOT GIVE YOU A LETTER AHEAD OF TIME.No faxing, no emailing.Period.At least that has been what I am told.He offered me the 45% I didnt call him.
So wait for a letter or have it go to collections as I was told today.Ill take my chances as Im not out anything.I have to "load" the PP card. so they cant get a thing.

Citi will give you a letter. I settled 50k for 45% and I got a letter before I made a payment.

Very good to know, still waiting for letter, but with TG Im sure it might be a few days later than normal.
Also they never ran my PP card.. he siad he got it ok'd for me to do mail in or go to a Citi Branch to make payment.Im happy with it.Now to the next Citi one, (10K plus) I was told if has to wait til mid Dec to even look for a program yet as there is a 6.99% special on the balance that had to expire before they can offer me anything.

The 2 B of A's are the ones Im concerned.Over 90 days and huge payments and big balances39K between the 2 cards. I can only settle for 20 to 25% with them as that will be all I can barrow from a relative.I geuss if they choose to not settle at the % Ill have to chance it with a CA.. dread.............