Citibank wouldnt accept our offer now with united credit beurau. What next?

Citibank almost never settles that low. They would rather sue (which they do on a regular basis) that settle that low. Do some research in the forum here to see how much they have been settling for recently.

I believe you or your wife should talk with the United Credit Bureau regarding the debt. This may help you with settling the debt and paying it off in the process.

I can't guarantee that UCB will accept 30% on behalf of Citibank, but I'd certainly give it a try. As a matter of fact, I'd probably go in and offer just over 25% of the balance, and go from there. If it doesn't work on your first phone call, don't get discouraged; it may take a few weeks before you end up with a settlement agreement that's satisfactory to all parties.

Good luck!

I could have done 33% if I paid in lump sum.

I had to spread the payments out of 9 months, if I had lump sum to offer prob could have negotiated higher.

my account had already gone to collections >120 days,

It was with Capital Management. The guy was actually really nice to deal with. I think next time though I will call about situation. Explain what I can/cant do offered %25 or so, and let them call me back or I wlil call them again. Hopefully for the next settlements I have more of a lump sum or at least a chunk I can pay and then maybe do a few payments.

Good luck!

I settled with Citibank for 15% this year, so I would not increase your offer beyond 30% unless there was an excellent reason to.

Hi Options,
Congrats on settling for 15%. That is very unusual for a citi account.

Citi did have a fire sale opportunity earlier this year where letters were mailed to targeted delinquent account holders offering settlement ratios below what is typical from them. This does not happen regularly.

Did you settle with citi itself prior to charge off?
Did you settle with an assignee collector or a debt buyer?
How long had the account gone unpaid?

I only post to point out the above and ask the questions because other people with citi accounts may see this thread and target 15% settlements in their efforts that may never come and it may cause them to pass up opportunities that fit their situation.

Again, congratulations on your success!

My 15% settlement was unsolicited (their solicitation wanted 50%). It happened few days before chargeoff, when the account was assigned to a CA. The amount was sizeable.