Need help with Citi Business Card

Hi, Captmarc
Very sorry to know about your irreparable loss. Hope things get better.

Primarily, I would suggest you to have a few words with Citi. Tell them about the ups and downs you are going through.

I believe that you have chalked out the budget and a bottom line. Yeah, it???s true that sometimes creditors can accept a settlement of less amount if you give them a lump sum payment. But never offer anything first, just listen what they have for you. You can accept their proposal if it???s comfortable and affordable for you. Always get things in writing to avoid any kind of litigation.

Thanks Chris, I am still confused as to how to start this process though. Can someone walk me through it start to finish?

Tell them you have had a significant change in income. Month 1 of not paying they wont settle but by month 3 you should be able to get 50% if you can give them all of it at once. This is going to ding your credit BUT it will not show as a collection account just as a delinquent account. it will stay on your credit report for up to 5 years but will have little relevance on your credit score after 6 months.

have you not heard of ethics and morals this person just told you he is going to charge more on his credit card that he is not going to pay hello can you say stealing?, also he did not have a significant change in income if you read it correctly, he just wants out of debt i get that but why not do what most honest people do that can afford to do, and that is pay back what you borrow

Interesting that you just called everyone here who settles debt dishonest. Also, you didn't even have the guts to register on this site as anything other than guest123. Let me guess, you work for Citibank? And in my opinion, charging 30% interest IS Stealing. Holding someone's payment check until after the due date and then raising the interest rate 25% IS Stealing. If you don't have anything of value to add to this conversation, perhaps you should keep hiding behind your computer, only do it quietly this time.

interesting as you are putting words into what i said, which i did not say. i did not call people that want to settle there debt as dishonest. there are legitimate reasons people cannot pay back there bills and need to settle. because these people cannot afford to pay it back, this person can pay it back judging by his income, also the only part i called stealing was the part of him planning on using it for large purchases and already planning on not paying it back that is immoral and quite frankly there are a lot of honest people on this board that are trying the best they can with what they have. using all means nessary to get out of debt. but they actually have hard ship this poster just wants out of debt, i tell you what why not even in this country just settle there bills whether they can pay them back or not. every bank will fold and you think this last year or two were tough economically try another depression. why dont you read up on economics and how it works better yet the bible. to learn some morals, by the way i dont work for citibank so thanks for assuming why to much, just time you sit behind your computer quietly unless you actually know what you are talking about before you respond.

Idiot, this board is not for you to make judgements, preach religion, or tell people to study economics. Why don't you start with 3rd grade grammar, learn how to capitalize the first word of a sentence, and then you can tell people what to study. Shut your mouth now TROLL, this board is about settling and dealing with debt, not ethics or morality. Take your bible and shove it up your ass, it will do the most good there.