Citi Choice card offers ???

[ghk3rd]

I owe 30k,just got mail offer to settle for 51 percent. Haven't paid since October .
Anyone have timetable for additional offers ??
I might be tempted to pay approx 10 to 15 percent ???
Has anybody else dealt with Citi ???
THIS OFFER EXPIRES ON 6/29 ARE THEY GETTING DESPERATE OR WHAT ???

[njguy1972]

I have a post in the ch 13 section of my story with settlements. Citi and I settled for 30 cents on the dollar. I stopped paying in December and settled at the end of May.

With Citi they want to close the debt off their books by the end of the month so calling after the 20th helps.

Also mention that you are trying to avoid bankruptcy and have offers for 15 cents on the dollar. (I actually did and the guy said his best is 30 cents on the dollar).

[747LUVR]

Hey all, after reading posts almost daily the past few months, I just registered and this is my first post. My wife, who is 5 months pregnant with our first child ended her 'working' career yesterday, and will stay home for the next several years to start our brood...lol.

Anywho- with regards to this topic, we have a $14k CitiFlex loan-unsecured. June's payment, I paid $100 out of the $215 that was due. Due Date 6-1-09. We got a 2 day UPS package from them on June 11th offering to settle the debt for 55%, or roughly $7300. I was 'wow'...desperation.

We're not going to settle, CH 7 perhaps in Nov/Dec, after the baby is born., I toy with the few collector calls we get. Let's Git it On!!!

[treehugger1]

747, Don't just toy with them. Act on your rights. Demand they send you written information and reply with a debt verification request within 30 days of receiving the dunning letters, and include a cease and desist telephone communications request.

Since we never know how long/if/when we might file, exercise you rights under federal and state laws.

[747LUVR]

Thanks treehugger.... when I said toy with them, I meant really, I'm stalling them. The ones that are nice, I'm cordial back, the few who cop an attitude, I usually just hang up. Im aware of my rights, and we just started to default in May for most accounts. I paid em half of what was due in May, and for June I paid them half of what I sent to creditors in May. Chase so far, has been nice, B of A, I only got 2 calls from them, one was ok, the other a real piece of trash.

[treehugger1]

I think it is interesting how all-of-a-sudden the big financial players want to put up the funds to escape the original bailout. The origonal fed program seemed to be geared toward the mortgage crisis. But, the things I'm reading relted to 8% - 12% defaults of unsecured debts sugest that the problem is bigger than just mortgage issues. But, what the heck, most of us already knew this.