Citi already offering a settlement to hubby...

[JEM]

at only 60 days past due??

UPS 2 day air letter just arrived....they'll settle $6200 for $4200??

Not that we have $4200 to settle OR that one settlement would even make a dent in our debt.

BUT seemed so soon for them to be offering settlements. I thought that usually occurred right before charge off?

[Faust]

I smell the beginning of desperation.....

[DebtHater]

Chase had offered settlements to me @ about 90 days past due. Not that they would put them in writing of course. They offered an approximate 60% settlement.

[JEM]

I smell the beginning of desperation.....

Do you think this means they'll jump to suing quickly?

I mean, we're only 60ish days past due? I REALLY REALLY want to make it at least another 3 months before we file.

[Faust]

Do you think this means they'll jump to suing quickly?

I mean, we're only 60ish days past due? I REALLY REALLY want to make it at least another 3 months before we file.

Oh most certainly not. I don't think they will alter their course of getting judgments, you will still have plenty of time.

Don't worry!

[ryan]

Chase had offered settlements to me @ about 90 days past due. Not that they would put them in writing of course. They offered an approximate 60% settlement.

...me too. They offered 60% and implied they would go lower. I wish I had it, as I would settle with them.

[OutofTime]

quick question on settlements, I was told if we settled and not pay for the full amount owed, this would be seen as a negative point on my credit report for 7 or so years. Is this true, it's a joint acct with my spouse and spouse is not filing but don't want her credit to be hit for 7 years or so.

[OhioFiler]

I've had offers as low as 10%.

[ryan]

I've had offers as low as 10%.

...can I assume that was for a very old debt?

[frogger]

Patience......... you'll get much better offers. I went with the 0% plan.

[JEM]

Patience......... you'll get much better offers. I went with the 0% plan.

Haha!! Same here. That's why "what" they offer doesn't really matter. I was just surprised they offered any kind of of settlement at this point.

[calgirl67]

I tried for months to settle my $100k credit card debt with all 5 cc companies and they were greedy and wanted like 60%..

So I joined "frogger's" plan - the 0% plan down at my BK attorney's office.

[Fresh]

Frogger,

You are so right. I'm getting on your plan soon! You just made my day AGAIN!!!

At 60 days, oh my goodness. This country has gone past the financial melting point and these banks are incredibly desperate....just desperate.

[OhioFiler]

...can I assume that was for a very old debt?

10 or 11 months old. I'm also using the 0% plan so any offer is too high.