Citi Really Wants to settle

[lwh1961]

I wish the others would send me offers like theses..

orginal amt settlement amout

5206.21 1041.24
9740.92 1948.18
10821.00 2548.00

If I weren't so sure I'd be filing I'd take them up on it. AMEX has already filed suit. They didn't wait long.

[DebtHater]

Nice.

The real question of the day is whether or not they would put those figures in writing and accept any form of payment other than over the phone.

[flyinbroke]

I am not even at the 30 day mark and Citi sent me something about lowering my payments to 1/4-1/3 what they were, interest reductions, bla bla. I was going to call and see what they have to offer, but the fine print said something that sounded like calling pretty much equals acceptance of the offer. However, they have not offered a thing yet...you have to call and see what you qualify for. I am tempted. This account is closed because I did an opt out. I would rather exercise all alternatives other than BK because BK should be the second to last resort (settling, to me, is the last resort...there are too many variables that can be used against you.)

[AngelinaCat]

Just keep in mind, once you file, you cannot make any kind of a side deal with any creditor, or else "it will blow your bankruptcy". Those were our attorney's word. She was very stern on that, telling us that if we did, it could get our case dismissed and we would not be able to file BK on the creditors we had in our matrix ever again.

We did have a person collecting for Sears MC, which I think is owned by Citi, call us on a Saturday, right after we filed. He was very insistent that we pay $xxxxx, which was a lot lower than what we owed by Monday, or the deal was off. We explained that if we could even pay THAT amount, we wouldn't have filed BK. And where were we going to get $xxxx during a weekend? He also didn't like it when we insisted that we needed to talk to our attorney first.

[flyinbroke]

AC, I do understand that; you cannot make preferences and this would be. If I file, it won't be till close to the end of the year. My tax rate went up taking a chunk of income with it, my rental insurance rates did skyrocket as a result of "30 days late/maxed out CCs" on my credit report (which means my car insurance will soon be too expensive to pay on) and my disposable is going to take major hits. Since at present I am stuck in a 13, I need to wait so I have six months at a severely reduced income. I may call and see what they have to offer...this is the first time I got an offer in the mail (aka in print.)