Citibank just settled w/me for 25%

Oh wow..what a relief! This was the largest of my 4 cards that I defaulted on. The balance was $51,500. We settled for 3 monthly payments of $4300.00 Just under $13,000 total, or 25%.

And it was THEY who sent me the settlement offer.

3 more to go...

Yay for me and this forum!!!!!!!!!

jacqueline:
Thanks for sharing the good news..can you please tell me on how late you were??? I am 120 days late (from citi card website)..and they dont seem to cooperate for any settlements..would appreciate your information. Thanks.

I'm about the same, 120-150 days late. I'm not sure why I was offered a settlement and such a decent one, but I did ask the woman on the phone what made them decide who to choose, and she said she had no idea. All she knew is that I had that preapproved settlement offer letter and so she could do it whereas she would not be able to settle for that in normal circumstances. Wish I could be more help.

that's great!