Please read! Citibank stress!

You're still in a good place that you could act from to pursue a remedy on your own, or discharge that debt if they haven't sent your account to their lawyers yet.

If you're really at a loss, I'm always available for questions

I was in a debt settlement program. They sent my account to a collection law firm, owed about $7800. Law firm sued me. I didn't have funds for lump sum settlement so they only agreed to have me pay the balance in full over 24 months. They still got a judgment against me. So all around it sucked. Only good thing is no interest, fees, etc. Straight principle being paid over 24 months. This was my worst account. Good luck.

Forgot to add. This was a Home Depot account issued by Citibank.

Citibank/Home Depot settles all the time and if it hasn't jumped to a debt collector it will. Can they sue? Yes they can but most of the time threats are empty and it's a last ditch effort prior to selling off the debt/asset; there are "Law Firms" that front as collection agencies. As ARB mentioned, if you do get sued, you're forced into a payment/settlement plan.

Citibank sent me to collections after they said they would try to work with me on settling. Never heard back from them.

Now I'm being harassed by UCB, the collection agency. I've sent them a validation request letter and plan on getting them to settle for as little as possible. My debt was $11,000 (they say it's over $12,000) which I brought down from $30,000 in three years and was pretty much working just to pay them! It was costing almost $600 per month. Could no longer afford it and they started adding fees and high interest once again.

I have learned a very expensive lesson and will never again do business with Citibank.

Most creditors threaten litagation all the time. Best time to settle is between 150 - 180 days past due. At that time work towards 50% in payments. It wasnt easy but it worked for me with Citibank.

I never wanted to do business with Citibank again, either, Stenogirl. I had run into problems with them about 20 years ago after I had just bought my first home, used credit cards to renovate it, then lost my job. Citibank was so awful, I worked my way out of my mess, paid them off and vowed never again to have their cards. Fast forward to NOW, and I have TWO Citibank accounts. All because I thought I was safe in getting OTHER banks' cards. Only to have some of them be bought out by Citibank, and lo and behold, I'm stuck with them all over again. They are like a plague of locusts eating up everything in their path, and that just won't go away. lol.

You're so right, SusieQ! Lol . . . .I guess I hadn't thought of the scenerio where citibank actually buys out other cards. That could put me right back where I started! I'm just so glad to have found this forum. Debt stress was really affecting me and now I feel like there's so much hope.

You are not the only one Citi stinks! They may just send it to a collection agency, some CA for Citi will offr up to 50% savings other less, if you can negotiate this debt you will graduate as a debt neotiator. Good luck.

Citibank are not easy to negotiate with, however what I suggest is try rotating this debt on a couple of other credit cards, and keep doing that and paying off the minimum balances every month. This way you will not be paying interest, bring down your debt, and ease the tension which has built up with Citibank.

Try my website link as well for more help.
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It sounds like Citi is a real A hole. I'm not sure if this news is good or bad for us. Please advice.

* Government considers bigger stake in Citi
marketwatch.com/news/story/Report-Government-considers-bigger-stake/story.aspx?guid={89B19FAF-B983-46D8-9E04-5CABA02C6309}

I called the law first last Tuesday and offered $6500 of my 2 accounts being sued for a total of $16200 but I haven't heard from them yet. Hopefully within the next few days.

I lucked out with citi. 10,000 debt they settled for 5,500 and gave me 12 months to pay. I thought that was pretty good. I settled for lower % on other cards but noone gave me 12 months.

BLL-
How long ago did you get that settlement deal with Citibank? Was it with them or an outside collection agency? Thanks!

citi was my worst card in my settlement program. but then again it was my smallest account. they did sue me but at almost 2 years. but im hearing that they are getting better. dont worry about the threats your new to settling they do this all the time. its a scare tactic. they all do it. not saying that they wont sue you but its unlikely this early in the game. If i had a dollar for every company that threatened lawsuit, jail, repossession, and prosecution, i would not have any debt whatsoever!!

I am just curious as to why you wouldn't want to do the hardship program? I fell behind on my citibank and they offered for me to make a tiny part of my regular payment ($22) and they are forgiving the other 60 each month for 12 months and then I will be "cured" and able to have the account in good standing. Out of HSBC, Capital One, and Bank of America, they were the easiest ones for me to work with.

The hardship program that they offered me was a 2 month deferment...which I took of course. No payments, no interest due for 2 months. The problem is that 2 months is not enough time! My minimum payment due with them each month is over $500, and that was back when my payments were on time. I don't even want to think of what it will be now.

For all those who have directly settled with Citibank, do you give your checking acct# for them to deduct it for the settlement plan?

Yes, but, I set up a separate checking account just for the purpose of paying settlements.

i would not advise you give them your actual checking account # that you use this is why.

This was not citibank but a scum bag attorneys office out of ny. My husband had a chase i think it was that got confused in the mess and forgotten about. He got this call one day at work threating garnishment (not legal here i just found out) of course he was freaking out.

So i tried to work things out with them till it was all said and done i had to pay them 1300.00. at christmas time. It just so happend that this particular year my husband got a good xmas bonus and i knew i would have it in a few days. So i gave them the account number told them they could take it out tuesday. Well they took it out thursday prior. and if that was not bad enough that they bounced my checking and all the checks that came after that, they took it out on tuesday too and double dipped me.

Of course they couldnt just put the money back, it took them 6 weeks to put it back. So of course for 6 weeks i couldnt eat, buy diapers, or pay bills. and of course they didnt care. I had to borrow money off my friends and family to get by. And i didnt have any money for a attorney so you know they refused to pay all my fees that the bank charged me. so the money that i got back all had to go to fees, and family. it took me 6 months to get back on track from that.

learn from me, never ever give them your account # even if you loose the settlement offer. its not worth it.

Just this weekend I worked out an arrangement with Citibank, I have an $8K balance and for the first time in my payment history I am unable to pay them. I explained my hardship situation the them and they worked out a 12 month plan for me, too (like Michelle), $85.00/month at 0% interest, no fees of any kind. The payments will be automatically deducted from my checking account each month ( I had no choice in this), and she gave me the entire year's worth of draw dates so I know exactly when to expect it. She told me that if for any reason I couldn't meet that amount on any given month to call prior to the draw date and they would work with me.

I feel this is very reasonable, both the women I had to deal with were very kind and understanding and I have no complaints about the process so far.

I hadn't considered opening up a separate account for this purpose as time4wine did, that's a great idea, I think I will do that.

I, too, had a Citibank credit card that I couldn't pay. I have been harrassed for a year now and last August it went to an attorney in Little Rock called Hosto & Buchan (I'm in Arkansas). I've received a summons and am trying to settle with them but they want the entire amount - $16,000.

All the banks want to do is get you to pay and threaten to report you to the credit bureau. Citibank, HSBC, and all the other creditors threaten to do the same thing. Yes, I am very much delinquent but cannot help it due to the economic environment, our financial situation and many health problems that we are facing. They want their money NOW and will make arrangements that are temporary and that closes your accounts and still destroys ones credit (mine was once in the mid 700's and now in the 500's) this has ruined our lives and we do not know how to get out of it. These debt management companies need 14% to help you get out of debt. How can they sue when there is nothing that can be taken, if there was, then none of us would be in the position we are in. We are living in very difficult times and I feel the consumer should be helped and then and only then can the banks, maybe, collect at least something of what is owed. The worst part is the late fees and high interest fees. When one cannot pay, how can they expect to pay even higher costs that are added to the accounts? I think this economy is way "upside down". What can be done in these situations? The phone calls are annoying and given the same answers with each call that can come 2-3-4 times a day. I now try very hard not to answer these calls and I am thinking of changing my telephone number to an unlisted private one.

I also have a citibank credit card balance of $11,500.00-it has been sent to a law firm and they have sued me. I answered their summons so I have a little bit more time. I talked to the lawyer and they want the whole thing, plus interest and attorney fees but will accept a 40 month payment plan. I am going to try to get them down farther but they are playing hardball. I wonder why in this economic climate they are wasting so much money on lawsuits when most of the time they don't recover the fees because the debtor will often file BK before they will let them garnish wages and bank accounts. All of my other creditors have offered me 50% settlements with payment plans.

I've had trouble with Citi for years. I wasn't able to make minimum payments and tried to work with them. They told me that the amount I offered (which was a stretch for me in the first place) was "unacceptable." They refused to negotiate anything in regard to fees or interest. I told them that I was willing to pay the debt in full, but they would have to work with me and be understanding of my circumstances. They continued calling and demanding more money than I could pay.

I finally wrote and told them to charge off the debt. I never heard from them, but recently got a copy of my credit report and there it was - the original $5K plus another $8K in fees and interest.

Just this afternoon I got off the phone with an attorney. She is threatening litigation. "We will get our money." I have no house, drive a 2001 Cavalier with almost 100K miles on it, no savings, nothing. I live on Social Security. By the time I got off the phone I was shaking and crying.

She wanted $4,500 as an initial payment. I offered to pay $150 per month to start and can probably increase payments over time. She told me that was "unacceptable."

I had been thinking of suicide this week anyway because I feel so discouraged about life and this has just upset me so much. I feel that she probably won't be able to get much in court . . . I told her that I am willing to pay and that Citibank has the power to reduce their interest and forgive fees but she kept repeating that it was in the contract that I signed.

I asked her what this litigation thing would mean but she just said that I would receive a letter in the mail. I asked if I could end up homeless. My annual income is only $24,000.

I have 3 other credit cards in a DMP that charges me $70/month. I have two other smaller debts that I will finish paying in October. I no longer use credit cards. Citibank is a huge mark on my credit report. I asked about a car loan at my credit union and they told me that the DMP and the Citibank debt would keep me from getting a loan approved.

I feel so discouraged. They are pretty much impossible to work with. I'd almost rather just have the Mafia come and beat me up than go through this. How is this legal? I never asked for their credit card in the first place. They sent me an unsolicited card with a $5000 balance even though my record showed that I had trouble with credit.

We are being sued by Citibank. We have papers that we have to answer, then I assume the court date follows. They are offering to settle for 75%. I am afraid if we go to court, they'll get the whole judgment. They might because I don't have the money to settle right now anyway. We have nothing to give them and they don't seem to interested in waiting til tax check time

Anyone been that far into being sued by them?

I just turned my Citibank account and Bank of America account over to careone for debt settlement Citibank never offered me any kind of hardship program offer today I sent the very last payment I possibly could to Citibank before going into debt settlement in june it was like $58 my only income in social security and I sent Citibank a letter along with my final payment telling them to quit harassing me and they would no longer get any other payments from me and they will just have to deal with my attorneys which of course pissed them off. Bank of america was more understanding. I will be so glad when all this is over.