Just Settled Citi at 20% !!

Congrats Mac!

Did you take their phone calls or just do it by mail?
Are you paying in lump sum or payments?

Thanks for sharing.
Kaylee

Hi kaylee

Yes I took all phone calls .... never avoided (I really dont mind the phone calls.. they were always polite and nice)

I did not do anything by mail.... I guess I could have but it does take a little more time. I just explained our very tough financial situation and said the same thing everytime I talked to them.

I paid in one payment ...

Its my theory, that the more in debt you have.... I think you might get a little better settlement % because they think you are indeed going BK.

Yes, Mac you are absolutely right. There is always of a fear factor that they are not going to get the money back from you in case you go ahead and file a BK. Not only this. The more th accounts gets delinquent more good settlement offers you can get from these creditors, because here atleast they are getting some money back from you.

I'm over 180 days and they are still stuck at 45%, they not even calling anymore! Why can't I get a offer like that?
Can no longer work :(

Have a hard time believing this!!!! You talk to them but paid a 3rd party collection agency to do what?

guest123

I know it is hard to believe....but it is true

It had only been with 3rd party collection agency for 2 weeks
I paid the CA then they forward $ to citi.... the debt was assigned to them.... they did not purchase debt from citi.

Trust me .... I have 2 other citis that are stuck at 50 % !!! and wont budge ...
Citi does not make any rational sense in their settlement process ???
They are very frustrating !

Thanks for all this info, you are so correct in that there is no rhyme or reason to it but if you read all the posts you can sometimes see patterns.

I am in the beginning but will update regularly.

And I quote "Just wanted to let you all know I just settled a 13,800 citi cc account
for 20% settlement. It was about 5 months late."

And I comment;

You done good, very very good!
Wow!

Update us, please!

Congrats Mac. Keep sharing your experience and help others to get out of debt :)

Jason

mac is superhuman. i was in disbelief but happy he got it. it seems like the more debt showing on your cr, the more they negotiate.