CitiFinancial CC

They do settle but CitiFinacial is not as easy to settle compared to a lot of other lenders.

Well my understanding about Citi only because my sister works there, so I asked her. CitiBank, CitiCards are Citi based and work under the corporation of Citi. Now for Citi Financial there are a like store front operations that work independently from the Citi corporation. Citi Financial operators are more apt to taking customers to court because they are locally operated so sueing their customers is not a problem. This was quite informative conversation. My sister recommended that Citi Financial be one of those creditors that you work something out with them; unlike a CitiCards or CitiBank account where they are more apt to settlement.

I have a personal loan with citifinancial balance is about 8800.00. has anyone had any success with getting a settlement.

I have a home depot citi card. 90 days late they gave an offer to settle that would reduce the balance by 35%. I countered that because of health the best I could do is 80% off the balance over 3 payments. The response from the rep is that they usually do not go below 60% off the balance. They said they would send the 80% offer to a manager and get back with me Monday being tomorrow. I'm thinking they will counter around 30% or so.

Historyically Citibank is a bit more flexible for settlement accounts than a debt managemant program. They are willing to drop to 9.9% in a dmp plan only if you are current on your payments.

Settlements typically take at least a year to be effective but thats not always the case.

Just last night I got someone from Citi to agree to drop my interest to 6%, making a one year payoff of the account possible, provided I set up monthly $25 payments--it's a $1600 account. Why this is a good thing is that I'll be able to pay more every month and pay off in less than one year, effectively getting me off the treadmill. Of course, a follow up letter will be sent from my end.

I am wondering about Citifinancial not citibank has anyone had any luck getting a settlement with them I have a personal loan with them for 8800.00 and am wanting to settle.

Chemist, that is great to hear about citi! So a 20% settlement then? How delinquent was the account ?