Citibank offer Jan 2012...too good to be true?
Date: Fri, 01/27/2012 - 17:29
Hello everyone;
I have a Citibank account that was just charged off after 180 days of non payment. Balance is $25,000. I could not get Citibank to settle with me even in the last few days before charge off. Anyway my account was sent to a collection agency who is now working on behalf of citibank (citibank still owns the account...it was not sold). They are offering me a 35% settlement. $9000 paid over one year is what they are offering. I have not heard of a 12 month settlement offer...is this too good to be true? They say they will fax this info to me in writing. This was just offered today so I don't have the fax yet but I am skeptical.
Any advice?
Thanks so much!!!
I have a Citibank account that was just charged off after 180 days of non payment. Balance is $25,000. I could not get Citibank to settle with me even in the last few days before charge off. Anyway my account was sent to a collection agency who is now working on behalf of citibank (citibank still owns the account...it was not sold). They are offering me a 35% settlement. $9000 paid over one year is what they are offering. I have not heard of a 12 month settlement offer...is this too good to be true? They say they will fax this info to me in writing. This was just offered today so I don't have the fax yet but I am skeptical.
Any advice?
Thanks so much!!!
Don???t make any payments until you receive a written docum
Don???t make any payments until you receive a written document.
12 payments are nice, but not unheard of with Citi. A 35% settle
12 payments are nice, but not unheard of with Citi. A 35% settlement with Citi is ok, but not great.
Citibank
No, it's not too good to be true. You can probably get them to accept less if you can afford to make fewer payments. If you can't afford fewer payments, and you feel that you can commit to a 12-month agreement, go for it.
Again, don't authorize any payments until you have written confirmation of this agreement in your hand.
Good luck!
