Sears/Citicard

Greetings unregistered,

I got about 33% on my citi accounts at 150 days.

I've got a plan but you've gotta sign up and pm me.

Regards,
King " Kash" Jabba Labba

There is a thread on Creditinfocenter where the poster was offered a 20% settlement.

Remember, Citi will sell the debt to LVNV ( a JDB) for pennies on the dollar. Tell them you know that, and they may go lower.

Thanks Ohioan, that is indeed helpful to know..

@ King Jabba Labba, I signed up and have PM'd you.

Quote:

Well, in my experience I got 30% citibank/ATT at around 120 days out, this in spite of a threat to by them with legal action by a set date. and 30% citibank/home depot in the last month before chargeoff. Home depot mailed out the offer at 30% without even having to negotiate it. Both offers were in 3 monthly payments that were post dated until after the settlement letter was received. However, I had been keeping in touch with them often with ongoing negotiation willingness on my part. So I think it kinda depends. These two balances alone totaled over 18K. I also have my mortgage with citi and am behind on it so maybe that helped. However, it looks like for those who don't have the means to settle, this could well be what comes next.. I think Citi definitely wants you to be afraid though, and very much appreciates when people say scary stuff like this about them to make others afraid as well, so they pay up..wouldn't you agree?

Citi will sue on their Citibank-branded account, but for the Sears-branded cards, they sell off to LVNV. I read somewhere on here that Citi has an exclusive agreement with LVNV to sell them their Sears charge-offs. And this has been my experience with two Sears cards, a store card and a Mastercard.

My Sears card was one of the two cards I did not settle. They gave me such an incredible hardship program that I didn't need to settle it. It was very smart on their part because now that I have settled everything else I will have them paid in full in the next two months. On that program last December they were very easy to deal with.

Citibank Sears sent process servers to my house for three months strait, then the Sheriff's department (they even banged on the house). Never answered the door - not required to. They FINALLY gave up and sold the debt to some firm in New York. Every state is different, so don't count on not being successfully served.
Citi is the most aggressive firm I've had to deal with. Good luck if you have to deal with these SOBs.

I'm in a very similar situation as the OP on my Sears card, which Citi assigned (not sold) to a CA, and they wouldn't budge below 40% settlement. Any other ideas?

I settled all of my accounts for less than 35 cents on the dollar using a company that I can't name and that included there fee which was paid after I received the settlement letter from the creditor in which I paid directly. All they did was negotiate the terms and I was debt free. I would give them a call at 866-833-6398.

;)yeah i had some trouble wit my sears card tooo. but i have just been making payments to the collectors a much as possible the sooner it paid off the sooner i can try to have it removed from my credit.
you know they tried to automatically debt my account which would have sent me into a negative balance in my checking account. ANd with my simply minded bank they will throw you in the chex system for nothing

I settled my Citi Sears MC this week for 20 cents on the Dollar. Account was between 150-180 days past due. They wanted 55%, I countered with 20%. A few days later, they called to say my offer has been approved.