citibank settle or hardship
Date: Tue, 03/24/2009 - 19:12
hello;
Citibank is one of my last biggest creditors to work at settling with. Unfortunately I owe $25K, and won't have the funds to settle (I am assuming I will need 50%, but hope I am overestimating) until November of this year. Currently I am about to hit the 150 days past due mark.
When I was making my minimum payments on time, my payments were over $450 per month. Citibank is offering a 0% interest for 12 months, and payments will be $258.00 per month. Since I don't have the funds to settle, I am going to take this offer.
Here is my question: if i accept a 12 month hardship offer, will I still be eligible in Citibank's eyes to settle down the road? If I won't be able to settle in the future then I may have to reconsider the hardship offer.
I have read all kinds of different situations with Citibank so I'm not sure what to think on this one. Any advice is greatly appreciated, thanks in advance!
Citibank is one of my last biggest creditors to work at settling with. Unfortunately I owe $25K, and won't have the funds to settle (I am assuming I will need 50%, but hope I am overestimating) until November of this year. Currently I am about to hit the 150 days past due mark.
When I was making my minimum payments on time, my payments were over $450 per month. Citibank is offering a 0% interest for 12 months, and payments will be $258.00 per month. Since I don't have the funds to settle, I am going to take this offer.
Here is my question: if i accept a 12 month hardship offer, will I still be eligible in Citibank's eyes to settle down the road? If I won't be able to settle in the future then I may have to reconsider the hardship offer.
I have read all kinds of different situations with Citibank so I'm not sure what to think on this one. Any advice is greatly appreciated, thanks in advance!
I think that you should accept the 12 months, zero interest paym
I think that you should accept the 12 months, zero interest payments and try to pay off the debt. Now, in future if it does not become possible for you to settle the debt, you can either reconsider the hardship offer or you can go for balance transfer credit card, which comes with 0 APR for an introductory period of 12 months and pay off the remaining debt.
My goal is to eliminate this debt as fast as possible. My credi
My goal is to eliminate this debt as fast as possible. My credit has already plummeted and I do not have another card to transfer it to. I really am just questioning whether or not cc companies will still consider settlement as an option if an account has been through a hardship program.