Citibank - Need Advise

Call them and let them know your situation. They may let you pay minimal amount for the next 4 months and settle in April. If not, let charge off.

Our credit is already messed up with settlements. I was told that a charge off will not have that great of an impact.

Aubrey - you and I seem to be at about the same point in our settlement journey and hitting the exact same obstacles! I wrote a post this morning that we have a settlement offer from BOA but we just don't have enough right now.

This morning, I was feeling very discouraged but I'm not anymore. First - don't even worry about it! We knew we would have to let some cards charge off before we had the money to settle with them. We decided that it won't be the best outcome to let them charge off, but it's not the end of the world either. If we have to, we'll wait for our tax returns and even if it takes longer than that - we can get a good settlement with a CA. I think you'll be fine. You can call them up and tell them that you have to wait until April and ask for hardship for now, or let it charge off and wait for either your tax return or until your loan comes in.





Thank you, St. Jude!

i would start by calling them and see if you can explain to them what happend you never know they may wait. but on the other hand you may get a better settlement through the collection agency. I know that it is a little worse for your credit to go through the collection agency, but in all honesty either way it will be a mark on your credit score for the next 7 years anyhow.

Thanks for your responses. I guess I'm disappointed I won't get this over with sooner than I thought. LOL if these stay on my credit report for 7 years, I'll be 69 by then!!

That's what I'll do. I don't want to not pay my car loan or mortgage just to settle Citibank.

My tax refund is already spoken for - I've paying IRS back taxes since my withholding got messed up when I took the part time job.

I just don't want to get to the point where Citibank/collector puts a lien against my house.

Thanks all, and thanks St. Jude. My favorite saint - got a St. Jude medal for Christmas that I wear continuously. Might be buried with it......

The 30% settlement I was waiting for a call back on did not go thur Im going 120 days.. they kept me thinking and hanging on hope that they could get the 30% thru.But the manager looked at my CC report nad siad I had too many accounts that were paid but closed (paid as agreed) plus, my mortgage is current.Then they offered me 55% , and 3 weeks ago they had offered me 45%..!!!!
Anyway, no matter I only have 30% to give them(0f 10,800.00) I had to barrow it.This is the last card I have to settle, and they are the stinkiest.I geuss it will go to collections?

Aubrey! lol, I dont think so.." (Might be buried with it.)" all of this shall pass.. its just a bummer right now..

I didn't want Citibank to see I had settled with the other two. and that I'm up to date on Discover on a hardship plan. As to seeing that we're current on our mortgage, what would they expect?? That we'd jeopardize our home just to pay credit cards?

Hopefully I can get them to wait. I could give them something in March.....

guess I'll wait until Friday to talk to them. Hmmmm, what happens if I don't answer their call?

I just went to charge off with B of A the end of Dec and now getting harrassing phone calls from pre legal department. ANY info on this would be great. Are they still part of B of A or is it in collections.

BOA is a great creditor to settle with. Work with them. With regards to this settlement and your settlement Aubrey, Love My Things gives great advice - explain your situation to them. If you have no money, you have no money. You can't squeeze blood from a turnip. They then will hold on to your note and attempt to collect down the road or sell it off.

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Aubrey bad news is:If they look at your credit report like they did mine, they will see all.Citi said trying to settle at 30% was like me getting 70% of free stuff or money.. well yes I suppose they have a point.. but if you cant pay you cant pay.. so they get nothing from me, instead of 3200.00? I dont get it...