Attempt to Settle w/ Citi/UCB
Date: Tue, 09/20/2011 - 10:31
I have 2 cards with Citi, total of 16k. Both are in Charge off status. I was told to contact UCB on the accounts.
I have 50% of the total to settle with. I am the only one on the accounts and am currently unemployed.
I assume I should call UCB and let them know I would like to try to settle the two accounts. What will be their reaction? Call me names, threaten to sue, tell me they have to get the full amount or will I get someone who will work with me?
Just wondering if anyone has any recent experience similar to this. A lot of the info I find is from 3 to 4 years ago. Did not know if that made a difference.
Any tips you might have on when to call, when to just hang up, or anything in general would be great.
Good luck to all!
contacting them is the first step -- also a debt verification le
contacting them is the first step -- also a debt verification letter to confirm that they really own the debt.
you can also call citibank to confirm that they transferred/sold the debt to that agency --
after that, just call and tell them you are not working, you only have a certain amount (borrowed from a friend/relative) to settle with and start with 20 percent. you can always move up but can't move down.
I would also keep a spiral notebook with names and numbers so you have everything written down. I also keep the settlement letters in there for future reference just in case I need them (they try to collect after settlement done) --
If they agree to an amount get it in writing via fax, mail or email before you give them any money. very impt. thats your paid receipt --
hope this helps :):p
UCB is a Citibank vendor....Citibank will confirm that they are
UCB is a Citibank vendor....Citibank will confirm that they are collecting it for them. You DV it, UCB will probably close and return.
UCB is fun to deal with if you are prepared. They have a long history of FDCPA violations. BIG violations! So prepare yourself...record the call. Do a three way call and have a third party listen in on the call.
They are a collection agency...nothing more. They do not sue. They cannot sue. They do not have an attorney on staff nor do they have a pre litigation department. Their sole function is to collect. The can "recommend" to Citi that you be sued....but any wording such as " I will sue you" "We will sue you" is an FDCPA violation.
So, go in and be prepared...have fun. You could make some good money off them if they violate! We did!
