Settlement offer by Citibank

[DYLAN150]

I am 90 days late with Citi (sears m/c). Received a settlement offer today sent via Fed-ex and dropped off on my porch. They will accept 66% of the balance. I thought that was interesting because I am only 3 months behind with them. They do call me 2 or 3 times a day.

I also received a letter from my Credit union stating that if I don't pay them immediately, they will drop my membership. Now that's scary.

[catleg]

66% of the current inflated balance. Poo poo on that.
What do you owe the CU for? They get pretty testy about such things, being member owned.

[fugazzi]

I got the same offer, was surprised how quickly they were willing to settle with a lower amount. I threw it in the trash though

[debee]

I also received a letter from my Credit union stating that if I don't pay them immediately, they will drop my membership. Now that's scary.

LOL. That's right and if ya still don't pay up, you can forget about getting another invitation to the parking lot for your free hotdog on Independence Day!

[DYLAN150]

CAT: owe the CU for a visa card. I have received more phone calls from them then anyone else.

[747LUVR]

citi will mail you plenty more offers via fedex overnight down to 60%, then 55%, then 50%, then 45%...by then you're at about 180 days. Toss em, esp if you do plan to file...unless you really dont plan to file, you probably could get them to 40% or less when you're at 165 plus days. IMO however.

[ryan]

interesting, never got so much as a single offer from them. Just waited till 9 months of no pay, and sued me.
"There's a million stories in the naked city...." every situation sure is different.

[BRDownAndOut]

citi will mail you plenty more offers via fedex overnight down to 60%, then 55%, then 50%, then 45%...by then you're at about 180 days. Toss em, esp if you do plan to file...unless you really dont plan to file, you probably could get them to 40% or less when you're at 165 plus days. IMO however.

I just got UPS 2nd Day Air settlement offer for Home Depot (Citi): 50% on $5607.15 I think I'm about 60 days late.

[salsa]

It amazes me how some companies aren't all that bad to work with. Amex, hadn't paid anything since 2007. Last December got settement offer of 30% to pay over 24 months. I wish they were all that easy.

[Freddy03]

The DH and I both had Sears MC w/ Citi - both 120 days late. His accepted 30% offer - Mine wouldn't budge. His balace was double mine. Go figure!

[IamOld]

Freddy, it makes no sense!