work out plan

Acceptance of lesser payment depends upon the creditor company solely. debt management Program or debt settlement can lower your payment through professional negotiation with the creditor.

LEIGHPOWELL...I'll tell ya,with this 'economy', people are losing their homes/property everyday. It's REALLY sad to see. Are you STILL making payments to CitiBank? Where are you living now? Maybe CitiBank let you make lesser payments BEFORE because you still had the home for 'collateral'. Try and (maybe?) talk to the credit counseling team here on the forum. I've read alot of 'positive' feedback, from people, who have dealt with them. :lol:

A debt is charged off after 6 months of non payment. They can charge fees and penalties up to that point unless you make a payment and then that clock resets. Unless you are going to bring the account current by paying all the fees and interest to date then there is probably no reason to make any partial payments without a settlement agreement. Those payments will just be eroded by all the bogus fees the credit card company is hitting you with. I would start saving cash and then offer a lump sum settlement in full.