Should I insist on having the written agreement first?

Date: Wed, 03/31/2010 - 18:06

Submitted by anonymous
on Wed, 03/31/2010 - 18:06

Posts: 202330 Credits: [Donate]

Total Replies: 4

I own 10K to Citi bank, late 11 months, and is in some collection agency. They offer to settle for $4500 but insist that I make some form of payment first to citibank before the sending the written settlement agreement? Should I do this? Or should I keep insisting having the written agreement sent to me? I am afraid that If I keep holding out I may get sued. Thanks

DO NOT SEND PAYMENT UNTIL YOU HAVE IT IN WRITING. You can alway

DO NOT SEND PAYMENT UNTIL YOU HAVE IT IN WRITING. You can always have them fax it over to a Kinkos if you don't have a fax machine and need to get it right away. But don't trust them. They will just take the money and apply it to your balance. Besides if they haven't sued you yet, they are not going to sue you in the time it would take for them to mail you a settlement letter.

lrhall41

Submitted by on Wed, 03/31/2010 - 19:13

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absolutely get the letter first. to many horror stories on this

absolutely get the letter first. to many horror stories on this forum were they backed out of the deal after a payment had been made. pay nothing till you get the letter. also i get alot of faxes sent to giant eagle. very cheap

lrhall41

Submitted by love_my_things on Thu, 04/01/2010 - 07:01

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Definitely get any agreement in writing before paying a dime...

lrhall41

Submitted by TheDebtClassroom on Thu, 04/01/2010 - 15:41

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I talked to the CA again and they said because I need 3 payments

I talked to the CA again and they said because I need 3 payments, therefore they only take checks, and need to get the first payment by check first before they send out the settlement letter. Is it reasonable?

lrhall41

Submitted by on Fri, 04/02/2010 - 09:04

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