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I just spoke with citi to try and settle a card that is past due by 3 years now. They will settle but wont delete from the credit report. So I told them I needed to look it over. Next year is when the SOL ends and they cannot do anything. I am debating on whether I should risk another year or just settle and let the settlement hurt me for another 7 years.

they are tough -- I had to settle with them -- they took me to court and were about to get a judgement -- its up to you if you want to settle -- for me, it was that or get my salary garnished -- good luck

Sub: #1 posted on Wed, 02/27/2013 - 10:06

chrissyhen1 chrissyhen1

(Posts: 152 | Credits: )

If I only had one more year, I would wait it out and would only settle with them if they file in court.

From my experience, settlements don't really affect you for a full seven years. Yes, they are still on my report but my credit has gone from a low of 520 (post settlement) to over 750 now...and we just bought a second home. Credit does recover - even with the ding still showing.

Sub: #2 posted on Tue, 03/12/2013 - 06:07

LisaW LisaW

(Posts: 4 | Credits: )

Citi watches the SOL and more than likely will sue before the SOL runs out.

Sub: #3 posted on Tue, 03/12/2013 - 17:43

Moderators Cum Industry Expert
(Posts: 17319 | Credits: )


Sub: #4 posted on Wed, 03/27/2013 - 12:56

loans_option loans_option

(Posts: 1 | Credits: )

The same thing happened to me with them; I went to a debt settlement place and we got them to accept $388 a month, and they took it out of my acct.

Sub: #5 posted on Thu, 03/28/2013 - 17:18

meanjean meanjean

(Posts: 9 | Credits: )

i agree -- citibank, discover and capital one -- the three most likely to sue --

Sub: #6 posted on Wed, 04/03/2013 - 07:04

chrissyhen1 chrissyhen1

(Posts: 152 | Credits: )

citi just put my account into collection. When I called they said NCO financials would be contacting me. No word yet. Will they settle with me?

Sub: #7 posted on Tue, 05/07/2013 - 18:49


They more than likely will. You're probably looking at a range of 30 - 60% of what you owe.

Please feel to respond with any additional questions. Good luck.

Sub: #8 posted on Tue, 05/07/2013 - 19:28

Jared Strauss Jared Strauss

(Posts: 74 | Credits: )

they will def settle with you -- just wait till you receive a letter from them -- they may even send you a settlement with the second and third letters they send to you

Sub: #9 posted on Thu, 05/09/2013 - 12:46

chrissyhen1 chrissyhen1

(Posts: 152 | Credits: )

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