Sears

I would call and try to get better.
I wish that was on my account, I am only 117 days late though, they only prompted me for info for a payment plan. Is this the first time you have seen this on the sears site?

Call them up and make a counter offer. How much can you afford?

I see a "view special offers" link on the home page but when I click it, it says "this service is not available for this account." Weird. I also called in a number on a recent letter to try to discuss the account and was told to call the Sears Recovery Unit, which I believe is the legal department. [COLOR=black]800-829-0923. Wonder if I'll get anywhere with them? Around 120 days late. [/COLOR]

Well that number was definitely to legal...a law firm of Allen Adkins & Assoc. I understand they are working for Citi at this point but that was enough to get me concerned. I don't want the hassle of a suit being filed. Went ahead and settled for 50%. Just waiting on settlement confirmation. I'm going to have to do better on BOA and Capital One to make up some of the extra I paid Citi and Discover. Although I feel relieved to have those 2 biggies out of the way and at 50%. 2 down and 5 to go.

So far the offer on the website is all im getting.Called and offered 950 lump sum they said no.They have lowered the offer down to 40% on the website though,i would like to get them down a little lower but i feel like i am taking a higher risk now if i wait so i am seriously considering taking that offer.

That's not bad. What is the 40% amount? Probably close to the $950?

It will be 1,209.00 3 payments of 403.00.I think i will go ahead and do it.

Yeah I thought the 50% was fair and went ahead and did it. It was a lump sum settlement. I just didn't feel like explaining or negotiating any further. I would have been real thrilled to grab 40% on the site without the hassle of phone discussion! Just make sure it says that will be full and final settlement. I had one online offer that was just a deal to bring it current and would not have disposed of the account. Print out everything as well for your records.

When Sears/Citi sends offers they usually can't be negotiated for a lesser amount - at that time.

Each letter you receive offers certain hints as to what's coming next. I've said it before on these forums, and I'll say it again - patience is key. And, there are certain departments that aren't even worth dealing with; sometimes it's better to wait for a collection agency. Just depends on your particular account, and the actual correspondence you're receiving from the creditor.

Good luck!

I offered Sears/Citi 33% of $5500 directly to their settlement dept at 110 days. When I called back to see if it was accepted, they said no and countered at 50%. The rep said to call again after the next due date to make another offer.

They kicked my Citi/Sears out pretty fast and sent it to an attorney right at 120 days. Never could get anywhere with them and no offers online like others have seen. :(

I have never received a letter from them offering a settlement.All my offers were online.I went ahead today and took the offer.Now i got another citi card that is 122 days past due and have a settlement offer on that for around 1900 on a 3000 debt.I will have to let that one go for a while longer,can't swing that much.

The same applies to online offers. Since you can't do anything on the second Citi account right now, this is good. Hold out until you can and you'll be able to settle for less with the department or collection agency it lands with.

It seems that the settlement offers online come and go. Usually the last offer is a settlment, I recall seeing one for 70%, 50%, then none, and now "you request cannot be processed".