Citibank HomeDepot playing hard

Bank of America didn't send me a settlement offer / letter until after I'd made my first payment. Everything turned out fine.

If it really bothers you, then call them back and tell them that you won't do the settlement unless you have the offer in writing. But be prepared to lose the offer.

It is frustrating. I waffled on whether to do the plan with B of A because I didn't have a letter in hand before payments started. But I think the larger banks have policies and - from their perspective - maybe they want us to make one payment as a sign of good faith (to show we're following through) and then they give us the letter. After all, both you and I missed plenty of payments before settling. Why should they believe we'll make the settlement payments?

Good luck!

Why don't you try this:

Send them a letter stating

1) That you are providing them with a check based on an agreed upon settlement;
2) that the terms of the settlement are as follows [LIST THE TERMS MAKE SURE YOU LIST EACH AND EVERY ONE]
3) That based on your understanding of these terms each of which is material, you are providing them with the enclosed check;
4) that they are authorized to negotiate the check if and only if you have a settlement on each of the terms above;


Then on the check memo line include something like first payment towards settlement pursuant to agreed upon terms set forth in ___ date letter.

No guarantess obviously but that would be solid evidence if the Bank tries to back track.