It might be possible to settle a debt of $1,500.00
Date: Tue, 05/31/2011 - 17:09
It might be possible to settle a debt of $1,500.00 with Shell (citibank) but how do I know what to offer them so that they will agree. This $1,500 includes 3 months of late charges and interest of approx. 28% per month.
The interest rate is quite high. Yeah, you can contact them to s
The interest rate is quite high. Yeah, you can contact them to settle the debt. You need to make a reasonable offer to them. You should not offer a tremendously low payoff amount. At first, you may agree to pay 40% of the total amount. If they don't agree, then increase the settlement offer. Much will also depend on your negotiation skills. You should also negotiate to eliminate the late fees, penalties, etc.
I'd offer $500 to settle in full, to start. They'll likely count
I'd offer $500 to settle in full, to start. They'll likely counter, but you may be able to settle for around 50% if you're lucky.