Settle Citi Card AAdvantage

You will have to hold your patience and negotiate with the creditor so that he agrees to settle the dues for a lower percentage. You can even contact the debt relief companies for debt settlement who can help you in settling the account for 40% - 60%. However, before taking the help of a debt settlement company, do a thorough research about them and check out what other clients have to say about them. Once you're sure that they are a good debt relief company and not a scam, then you should go ahead and take their services for debt settlement.

Ok, I'm back and past the 120 day mark. Latest offer is 12,000 out of 26,000. Roughly 45%. They said that I'm getting close to charging off. I could possibly scrape that kind of money together in the 90 days that it would need to be paid back, but it would be really really tough. In some of the other threads, I see settlements for 20% from the same CC company. How unrealistic is this? Should I let it get charged off? Or will that just open up a whole new can of worms?

As a side note, for at least the last year and a half everything I have done has been cash. All credit cards are ether canceled or collecting dust. Been cash only and loving it. Now I just want to clean things up.

Thanks

Try a counteroffer of 30%, and hope that they will come back with 35%. Tell them that you want to take care of this before chargeoff, restate your circumstances, and that you are borrowing the money. Ask to speak to someone higher if they don't negotiate a lower percentage. Emphasize that you are borrowing the money to pay them. If they stick to the 45%, see if they can extend to 4 months payoff. Keep calling them everyday if you must. Good luck.

I am at 165 days right now with citi, and no charge off yet. I doubt it will be before the 180 day mark. Last time I called, about a week ago, I only got them to 40%. I offered 30%, and I am going to stick to that until 179 days late.

Have they told you that they are going to charge off your account? They said if I make a $370 payment, it will prevent my account from being charged off for another month. I'll call today and make a 30% offer. I'll update with any new info.

I am a little over 90 days late and just received a letter from Citi offering to settle the $22k I owe them for $6.5k (30%). I called them and accepted the offer and they agreed to let me make three payments. That was my first offer from Citi. I say hold out until they offer a 30% settlement.

Greetings"Unregistered",

Looking back over my records, I settled with citibank @ about 160 days.
Had multiple accounts.
Lumped 'em together @ 30%.

Keep in mind this was about a year ago so things may have changed a bit.

Good Luck,
King"Kash" Jabba Labba