Settlement Offer Letter From Citibank Business Card

Hi Guest,
It' s always better to be hopeful. So keep up the spirit.

Getting worried is quite natural, as signature is the stamp of authenticity of the agreement. So, you need to call up Citi ASAP and inform them that the required field has been left blank and request them to send a replica with the authorized signature on it.

Thanks Chris. Yes being positive is really important some days it's not possible tough.

I also didn't send them a settlement acceptance letter yet. I think I will do that first and call them.
I already made one payment to them I hope it's not wasted.

I'm working with citibank too and concern about getting my offer in writing. They told me over the phone I would have to send in the money first and then they would send the letter saying it was settled. I told them I was not comfortable doing it that way, so they said there was not time enough for letters to arrive before I had to wire payment. Letters where only mail first class?
Shall I be worried?

I gave Citibank a payment so it wouldn't move on to collections, and my settlement letter arrived within 5 days. Should you not receive a letter, then call them and tell them you are not going to send any more $$$ until you receive one.

Yes, make a small payment and wait for the settlement offer.

aubrey,

Did you settlement letter have a signature?

Actually, I missed my second payment with Citibank and they sent me right the next day to their Recovery Department and they wouldn't negotiate at first but later I reached a very nice older lady and she did settled me at around 45% but over 12 months which is much better for me so that I can settle other cards.


I am also trying to settle with Client Services Collection Agency and the letter they faxed me have no signature. There are some bad posts about them here so I am not sure if I should send them a payment with a faxed letter in hand (no signature) although I don't want to miss the 30% settlement offer but I need to make the first payment in 2 days.

Please someone respond if the unsigned fax settlement letter is ok. to send the payment?

Thanks

No, mine didn't have signature, but had a person's name.

When HSBC sent me my settlement letter, there was no signature either. I just finished last payment with them in Feb. and yesterday I received my "account settled for less than amount owed" letter. No signature on that either, but a name.

It appears that all of these letters are generated in a boiler plate format so you can't have some rogue rep changing all kinds of terms. The one I received from Capital One yesterday was also not signed. I'm not worried about it though. I have the fax cover sheet and at the top of each page is the faxed from line showing it came from them. I think I would win in court if they tried to say it didn't come from them. I sent them my money.

I trust the banks more than CAs. I sent the bank money with a settlement letter with no signature becase they mailed the letters and they all had some sort of barcodes looking things which indicates to me that they are genuine. The one from the CA is just a fax and the number it came from is unknown so I couldn't really prove anythng with that letter.

Did anyone received a settlement offer from a CA and did it have a signature? How should I make sure that the letter is legit.

Settlement letters rarely have a signature. If the letter is coming from Citibank and is on their letterhead, I would consider it a good offer letter. Also, make sure that your payment is being made to Citibank and not a 3rd party. Citi rarely sells their debts. They assign them to third parties, but continue to have full control over settlements.

I had a settlement letter from portfolio recovery via email with no signature, I made the payment on phone and recorded that call though. They sent me a settlement confirmation latter after 30 days "paid less than actual amount settled in full.
Tom