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Called Citi to Settle... It's gone to collections! Now what?

Date: Fri, 11/13/2009 - 23:19

Submitted by anonymous
on Fri, 11/13/2009 - 23:19

Posts: 202330 Credits: [Donate]

Total Replies: 3


I have been saving money to settle a $25,000 cc debt with Citi. I stopped paying the card 6 months ago. They have been calling with offers for months. I finally came up with $12,000 to settle. I called today... they said that the account is now with a law firm (Allen Adkins... in TX). I don't think that this firm is going to settle for $12,000. What do I do now? Citi was willing to settle for that amount... can it go back to Citi? Is this law firm going to sue me now? Thanks in advance.


You are right, they will probably settle for $6000. Does Citi still own the debt or did they sell it off. The first time they contact you send them a DV letter and wait. Time is on your side, if you have 12 grand set aside you are in a good spot. Tell them since you didn't accept my offer I used the money to settle another debt, and offer less.


lrhall41

Submitted by on Sat, 11/14/2009 - 02:59

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Citibank generally does not sell the accounts immediately to junk debt buyers plus they are one of the cards that does like to sue. I would definately say that time is NOT on your side if it is with an attorney. However, being November and that anything collected this month is going on their December (christmas) commission check, I would wait until about the week of thanksgiving...they will be scrambling to make their goals.


lrhall41

Submitted by SOAPLADY on Sat, 11/14/2009 - 03:50

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