Citi CC is funny

[ironpirate]

Just filed ch 7 on the 12th and they send me a settlement offer of 40% of the debt dated the 13th delivered by UPS 2 day mail today. Are they kidding? They're about to get 0%. I didn't think they could send settlement offers after you file.

[BankruptinNJ]

They may not have received the notice yet of your filing. I also received letters from CA's afterward. I've heard that it can take a week or two before they find out.

[ironpirate]

I'm sure they got an electric filing from the court on the 12 or 13th. They would never send a regular letter by UPS 2 day and it being dated 1 day after I filed, its an obvious last ditch effort by them.

[tcreegan]

stay violation penalties

Hi ironpirate,

If they violate the automatic stay, you could be due some penalty $$. Document everything and run it past your attorney. I saw a post from someone in Fla who cleaned up this way.

Tom in Colo

[SMinGA]

If you filed on the 12th, then court notices probably did not go out until the 13th (Friday) or even 16th (Monday). A letter dated from the creditor on the 13th was in the works to go out already. Citi has better things to do than to intentionally violate the stay, and they are smart enough to know that when one has filed ch. 7 - there is no $ for a settlement.

[UpaCreekinCA]

yup cc companies are idiots. I tried working with several and they don't get they end up with 0 plus whatever legal fees vs. taking my 10-15% offer. 1 card at 40% payoff is more than my lawyer and filing fee, not to mention they 1099 you the debt write off.

[wonderingrov]

With Citi, they are a huge company and one part literally does not know what the other is doing. I had to let 5 separate people there know I had filed bankruptcy, because the information hadn't made it to various collection departments.

Once their systems are updated, the calls/letters will stop. It just takes a few days.

[ironpirate]

I used to work for a loan company and getting a Ch 7 notice on a unsecured loan was very painful and I knew we were screwed, lol.

[wnguyen]

Ironpirate

Just give 'em a week or two. In my case there was one CA office calling me 10 days after I filed. My attorney also filed electronically but they won't get the notice for at least 3 to 5 business days. As far as I know, the notice sent to them is via snail mail. The only one knows it fastest is Toyota. They sent my lawyer a letter dated 2 days after I filed.