Citi Settlement Offer

[destitute]

Hi All,

I have a home depot card through citi. I am currently 34 days past due. I stopped paying last month as I am filing next week for ch 7. Anyway, I received a letter in the mail today from a collection agency. I can't believe they already transferred the debt after only 34 days.

The funny thing is I owe just shy of $7,000 and the letter offered a settlement for $2900. I'm obviously not going for it because I have about 70K in other unsecured but this seems pretty quick for them to already be talking settlement. I had only one phone call from them at work and all I did was tell the woman I can't have personal calls at work. That's been their only contact.

I guess they are almost expecting people to file bk

[albacore44]

That does seem fast but the banks are desperate right now the generate funds to pay back their TARP loans. i have been receiving letters almost daily from CITI offering to settle for 55% of the balance. I have 6 seperate cards. I am 90 days past due

[AngelinaCatHub]

Hi All,

I have a home depot card through citi. I am currently 34 days past due. I stopped paying last month as I am filing next week for ch 7. Anyway, I received a letter in the mail today from a collection agency. I can't believe they already transferred the debt after only 34 days.

The funny thing is I owe just shy of $7,000 and the letter offered a settlement for $2900. I'm obviously not going for it because I have about 70K in other unsecured but this seems pretty quick for them to already be talking settlement. I had only one phone call from them at work and all I did was tell the woman I can't have personal calls at work. That's been their only contact.

I guess they are almost expecting people to file bk

If you Bk, do not pay anyone without your lawyer knowing. Reason, preferential payments. You did good. 'Hub

Albacore, I wish you could change your Avitar. I get really "turned on" when I see it.