Citicard Help
Date: Thu, 02/25/2010 - 22:49
One year ago, my Citi CC was at 46,000. The person I spoke to on the phone set up a payment plan. She told me it was no interest, no late fees and paying down principle. Well, as of today, I found out that was untrue. This whole time I've been getting late fees and finance charges, etc. The man on the phone today, noticed she didn't set it up correctly and only set up drafts to be taken out each month for 1 year. On my credit report it states that my charge card has been 'charged off.' He offered me a 'possible' write off of 50% of the total upon approval of his manager. After reading this, I realized I potentially can get more. He did offer 12 months to pay that off, but I explained that I don't make nearly enough to make this happen. He basically told me to 'hang in there' and discuss with my husband other options. He said he's never seen anything lower than a settlement of less than 50%.
Is there anything else I can do?? We have only 1 other CC through Discover at $4000. I can pay that off in 1 year, if I didn't have this darn card hanging over my head. I need any and all help I can get!! Thanks!!
AW
P.S. My balance NOW after the year of the 'incorrect payment' is
P.S. My balance NOW after the year of the 'incorrect payment' is now at $53000. Just an FYI. :)
That sucks. Do you have proof of the payment plan, like maybe a
That sucks. Do you have proof of the payment plan, like maybe a letter they sent you stating the terms ?
No. That's the funny part. They are reviewing it with a manager.
No. That's the funny part. They are reviewing it with a manager. They knew something went wrong and have said pretty much said so. I need to call back on Friday. This is so bad...bad bad bad.
P.S.S. They also said they charged off the account in December,
P.S.S. They also said they charged off the account in December, WHILE I was still in the 'plan.' What the heck!!
Well, it sounds good that your debt will get slashed by 50%. But
Well, it sounds good that your debt will get slashed by 50%. But make sure that you get everything in black and white.
When, you go ahead for a settlement with creditors or collection agencies, you need to confirm the proposal in writing with their signatures on it. You can send them a Letter of Acceptance of debt settlement offer along with Debt Settlement Agreement Letter, if you??? re having it.
Moreover, as you are not in a good shape nowadays like the rest of us, so, you can always request for an alternative payment plan to your CA.