Has anyone settled credit card with Citibank recently?

You can start off settling your debts by sending them a letter detailing your financial hardship and how much you can afford to pay back at this moment.

Are your cards past due? If not, they are not going to negotiate. Also, they will not negotiate thru the mail....you would need to call them.

Before you start negotiating with your creditors, it's important that you analyze your financial situation and decide how much you can pay on an account. This will help you negotiate and convince your creditors to agree for settlement.

My mom had dealt with Citibank. Citibank assigned her debt to a collection agency - Protocol Recovery Service, Inc. They gave her 2 settlement options, which allowed her to pay off debt between 2 and 10 months. Mom opted for the second option since her financial situation was not good at that time. She didn't negotiate. I guess she could have received a better deal if she negotiated hard. Anyway, after 10 months, she finally settled her debts and was debt free.