CItibank Settlement?

Even though the law firm says they can only do 70%, I honestly believe that you can get them to accept less - right around 50%.

Tell the attorney the absolute best you can do is 50%, not a penny more, that if they decline and sue, you will move to compel arbitration, and that if they still win, you would declare bankruptcy and they would get nothing. Also, you can insist on paying it over 3 months.

[dupe]

If 50% was easy, I would have taken it when they offered. If I'm going to go to court, is it likely or unlikely that I'd end up at less than 50% in arbitration?

I just realized that I might be making my life more difficult with Citi... I have two other, smaller accounts with Citi that I am current on. The monthly payments on those two are total $100. The Home Depot branded card was $290 per month before I stopped paying it. Would the fact that I'm current on those smaller accounts make them less likely to accept my 50% offer?

i have been on the phone with citi just a bit ago discussing the 50% offer they sent hubby a while back, it actually expired on 8/30, but they said today is the last day i have to work out something (payment due today), or it will be charged off and sent to atty (not collections like the one lady told me a week or so ago), and you know the atty is gonna say 70% or full.

there may be other options for you than settling... they gave us other options....

Hopefully you didn't fall into the trap of accepting these other "options" Citibank offered you. Most likely, these would result in several more years of paying off your debt after your credit score has already been compromised. Settlement isn't for everyone, but if settlement is what you've chosen, you should stick with it, and not let creditors intimidate you to the point where you're scared and opting out of your original decision.

Some people are good candidates for debt settlement, and some are not. If you have access to the necessary funds to settle your debt, continue on this path. If you're easily intimidated by creditors, get the help you need. This is not a solicitation for business, as our company is very selective regarding who we accept as clients, but perhaps you can find a company that will assist you with the few accounts with which you're having difficulty settling. If you decide to do this, please don't fall into a trap where you're expected to pay up-front fees or monthly service fees (this is illegal). Do not pay for results until after a settlement has been reached on your behalf.

If you choose to continue the do-it-yourself method, please do not let these creditors intimidate you. You can't believe everything they tell you. While some of it is true, much of it is not, and you'll have to learn to read between the lines.

Good luck!

this entire post is directed to mariemegge-- your statement "This is not a solicitation for business, as our company is very selective regarding who we accept as clients, but perhaps you can find a company that will assist you with the few accounts with which you're having difficulty settling" really makes me mad.... it is like i am not "acceptible" as a client to YOUR company ! you should be ashamed !
also i have sent you several pm's here, asking you some questions in which you have not answered, they were sent at least 2 weeks ago..... yet you choose to come on the forum and you have been warned by the mods several times about your public statements...

sure, i could hire someone to help me and if they settle for even 20%, they will charge me as much as 30% of what they saved me, so i would be paying 44 % or more depending on settlement %, plus risking the fact that the cc bank will NOT work with the company that is my rep....
i know for a fact that many banks will not work with settlement companies-

that said, i would appreciate it if you keep your input out of my post from this point forward

First, I'd like to apologize for a misunderstanding that I believe took place. When I mentioned that there are some individuals we do not accept as clients I simply meant that we have a minimum debt requirement, and I don't believe you would qualify. I meant nothing other than that; as a matter of fact, our best clients are those who educate themselves and understand the entire process of debt settlement. You have clearly done your research.

Also, I'd like to apologize for not answering your private messages. Honestly, I don't recall receiving any private messages from you.

Additionally, yes, there are some companies that charge outrageous fees, such as 30% of savings. But, there are also companies that are much more reasonable than this, and your savings would prove to be significant - even after paying fees - if you continue to experience difficulty with your remaining creditors.

And finally, per your request, I will refrain from commenting on any further of your posts. I apologize, but prior to reading your request, I believe I responded to another of your posts yesterday.

As always, I continue to wish you the best of luck. You will feel a great sense of relief when this is behind you. And this is coming from someone who has been there - not simply someone employed in the industry. Have a great day!