Settlement with Bank of America and Citibank Checking Plus
Date: Mon, 12/21/2009 - 11:11
He told me that if I make a minimum payment than they will keep the account there and I can try to settle next month for even less, maybe. Is that sound right to you? Will they do it that way?
If I decide to the settlement, I know I need to ask it in writing and he told me that he will send in an agreement but my concern is that if I make a payment to bring the account current, will I loose my settlement option?
She mentioned that if I make a payment to bring account current, I will have more time for settling.
I also have a Citibank checking plus account that is attached to the
checking account and the line amount was 4K and it's all used up. I had used it for paying th miniumums on my credit cards before I started having problems.
I have no idea how that account works. I think it's like a credit card but I am not sure. My question is can I also settle that account? I am thinking it's not since it's tied to the checking account. Whenever I put in money into my checking they will transfer it automatically to my Checking Plus.
Thanks so much for reading and if you have answers for me. I am trying to see if I can settle to avoid bk.
I think if you pay that minimum to BofA the 120 late clock start
I think if you pay that minimum to BofA the 120 late clock starts over again.
You can settle Citi since it is unsecured. If you plan to do so you need to close that checking account. If not, they can take to pay debt.
Settlement with Bank of America and Citibank Checking Plus
Thank you. I don't have any money in that Citibank account anyways. They are still charging me monthly fees though.
1ok is the best you will get on 40K. Figure out a way to take it
1ok is the best you will get on 40K. Figure out a way to take it.
They fax you the agreement .I found them really good to work with.
He told me that if I take the settlement offer they will count m
He told me that if I take the settlement offer they will count my payment on Jan31st towards the settlement.
I am afraid that if I take the settlement offer of paying them in 90 days and if I can't find the money in 3 months, what happens.
Do they resettle later?
He told me yes, they can resettle but it sounds too good to be true. He said he was going through the same thing and was very understanding.
optimum1111
You are right, Do not settle the accaunt till it 180 days past due. Then when it's almost charged off they will agree to exeptional settlement 15% or less. I did pay my acct on 31st of Dec. - it was 150 days late. Now I have to wait till end of Feb. I settle Chase for 15% - it was 190 days past due. Keep in mind they sell your acct. to third parties for about 1.9% only. Good luck.:D
Greetings "SettlementJourney" If you can swing it somehow.....
Greetings "SettlementJourney"
If you can swing it somehow..........$10k on $40k is a great settlement!
When you bust a settlement agreement, usually it's over for that one and the clock starts ticking again.
Regards,
King "Kash" Jabba Labba.
Question to the Original Poster....when did you pay last? I too
Question to the Original Poster....when did you pay last? I too have two accts with BOA and they are giving me wacky time frames on each for how late THEY say the accounts are. On one, I have not made my October 2, Nov 2, Dec 2 or Jan 2nd payment so I feel that I am 120 days but they are saying 90 days??
FIA/BOA has a strange way of calculating days late. Just ask th
FIA/BOA has a strange way of calculating days late. Just ask them and write down the days. As you approach charge off, ask them for the date it will do so. That is where you want to settle...just before charge off.
