I just settled Citi Business Credit Card at 40%. I was 181 days late and my account would go to outside collection agency so I took the offer. I didn't wanted to deal with a CA since my other account with them ( personal master card ) already went to UCA at 140 days.
Citi Business Balance was around 12K. They said I will receive the confirmation within 7 to 10 days and I made a $300 first payment over the phone. All my other cards are offering 93 days payment but Citi said I need to pay this one in 60 days which will be taugh but I will do whatever I can.
This forum helps a lot. Thanks.