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citibank debt being sold?


pjoner
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So I have a year old charge off with a Citi Associates card. Close to 10k which includes interest that has been charged since default. This debt has been assigned to two different ca's. Once I was able to get together 50 percent to settle I looked into taking care of the issue. Had a lawyer contact the 2nd ca to try to settle. They stated they currently dont control the account and it has been sent back to the OC. About 10 days ago, I get in touch with the Citibank legal department they said it's in the process of being sold and they stated nothing can be done. They advised me to contact them in 30 days to find out who the account has been assigned to. I ran my credit today and there have been no inquires as of yet.

I am guessing Citi's next step will be to sell the account. Is it time to start writing letters to Citibank Corporate or do I just wait to get a letter in the mail from a JDB? My long term goal is to settle this account for 50 percent if possible and get it over it. I feel like I am on the road to being sued by a JDB, I am pretty sure a simple DV will not get them off my back and either way the account would be re-sold.

I have searched the board for examples of Citi cases but not much is to be found. does anyone have expierence with Citi, is there any way I can settle before they "sell" this "alleged" debt?

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I agree that trying to reach someone at a higher level at Citi might be your best approach at this point. Though pulling a single account from a portfolio that's being sold is difficult, it's not impossible. If you do get a settlement agreement with Citi, be sure it is well documented. In case the data wasn't scrubbed properly from the portfolio after settling, it could still end up in the hands of a debt buyer who will again be seeking payment on the same account.

Besides, you have nothing to lose by trying.

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