First Settlement offer

wait it out a bit like another 30 days and call them , ask for a account manager.

Something came to us from UPS too and we aren't late. I have a hardship program with one of our citi cc's and are current on our other so I was confused by this. Except mine didn't give an amount it just said to call them to lower the expense??

It is best to call them and see what they can do for you.

OK called them up and they wouldn't budge from the 45%, not on the phone at least. I offered them a straight $5,500 (about 36%) as just a place to start. Would they normally haggle over the phone, even with a supervisor? They would do over 3 payments.

45% doesn't seem that bad, just to get it out of the way. I've got other accounts to settle with Citi, B of A, and Chase.

wait it out another 30 days, what have you got to lose? then decide to pop the lump sum if they wont budge... try to be patient, its hard I know.. but may save you a few bucks

I just got one too, marked extremely urgent, came ups...Mine has no settlement %# in it and just says it's one of the many options I have. They offered me 55% on the phone, I countered with an offer of 35% on a balance of $3450 and they said no....I had paid down that balance by $7,500 before the $ ran out...In the scheme of things I thought they would have in the very least came back with 45%? Time will tell...The ups letter is for my other account bal approx $16K

I didn't act on the previous letter, and now I got one offering 56% on the balance. I called them up saying they can't give me the better rate from Dec, but to call back in March when my account cycles out to another group. It is now approaching 120 days.

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One BofA account was settled at 35%. Still waiting out the Chases and the other Citis.

Ok got a call on another citi card, coming up at 150 days. They offered 40% but I countered with 30 and she's getting somewhere in the middle approved. Will know by Tuesday of next week. it may help if I roll in my other citi account, to get a better deal. I must say the person I spoke with was very pleasant to work with, had been doing this for almost 20 years, and said she'd do her best.

Although things seem to go as expected and as predicted in this process....it is still nerve-wracking.

Great job Michael. Keep rolling!!!!!!!!!!!

More to come

Way to go. I will have enough $ soon to settle chase and boa. 150+ days and looking to do business.

Took the offered deal of 25% on one card and 45% on the other. Dollar wise it works out to the total amount I was offering at the time (10k settlement on 31k of debt). I think that length of time as a customer has something to do with how much they will work you.

Thanks for the help everyone.

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I personally think they raised it from 45% to 56% so that the next time you get an offer you will take it since it may go up again. In sales it's called the take away close - and it works.

Well they brought it back down to 45% when coupled with an older account which settled at 25%. Seems like I gave her a target amount for both and they went for it.