Debt Settlement Roadblocks WHAT NEXT?
Date: Tue, 08/11/2009 - 14:38
I've managed to get correspondence from a couple of creditors with limited success. A CA (an old WAMU CC) has offered to take 75% of the debt and I plan to counteroffer at 40-50%. Is that too high? It would bring it down to a reasonable $1000 payoff. My biggest headache now is a CITI (Sears MC) at $5K. I can't pay it, they didn't respond to a settlement letter and now I have a letter threatening a lawsuit in 30 days. Do I respond to this? Wait it out? Send another settlement offer? I'm not sure what to offer or how to respond (if at all). Anyone had success negotiating with CITI?
Letter writing, with several of the major creditors, will have t
Letter writing, with several of the major creditors, will have the opposite effect of what you were intending.
I suggest picking up the phone? Are you adverse to speaking with creditors in order to acheive settlement?
Citi will sue on the Sears portfolio.
Mileage may vary
Beautiful. Thanks so much for the info. I had an idea they playe
Beautiful. Thanks so much for the info. I had an idea they played hardball. I'll give them a call.