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Strange call from Citi - settlement tactics?


jameseiv
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Just got a phone call from Citi. Account is 151 days behind and the rep made some claims. He says that:

1. They sent a settlement letter two weeks ago

2. They sent a pre-litigation letter on February 11th

He started off by letting me now about the pre-litigation letter followed up by the settlement letter. I open the mail myself religiously at lunch and have never received either.

I asked for a copy of both, but he said he could no provide either. I let him know that if I had received either I would most definitely have called Citi to discuss.

He offered 35% settlement over the phone and I still asked for a letter but he was concerned it would not get here in time for the account to go to pre-litigation on March 11th. He then put me on hold for 15 minutes to see if he could get a copy of the letters out to me. We then got disconnected because I was on my cell.

I have answered all of their calls and so far and no mention of settlement until now. Is this a settlement tactic they are using?

Thanks!

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Citi will sue. Trust me, I know this from personal experience. Everything you said points to them lying to you. The problem is, you can't prove it. If you can legally record calls in your state without notifying the other party, do so. If not, ask them to repeat important details and write them down ASAP, sign and date them.

Start reading PA's rules of civil procedure now.

If you think 35% is a decent offer and can swing it, make damned sure you get the agreement in writing.

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35 is good, 20 is better. They obviously did their homework and think they will get squat from you if they sue. Take 35% of the amount you owe and divide by about 250, that's how many law firm hours they will be able to pay for to make a break even, which they will not do as a rule. If you cannot be collected against, let's torture them and make somebody bleed money.

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Just got a phone call from Citi. Account is 151 days behind and the rep made some claims. He says that:

1. They sent a settlement letter two weeks ago

2. They sent a pre-litigation letter on February 11th

He started off by letting me now about the pre-litigation letter followed up by the settlement letter. I open the mail myself religiously at lunch and have never received either.

I asked for a copy of both, but he said he could no provide either. I let him know that if I had received either I would most definitely have called Citi to discuss.

He offered 35% settlement over the phone and I still asked for a letter but he was concerned it would not get here in time for the account to go to pre-litigation on March 11th. He then put me on hold for 15 minutes to see if he could get a copy of the letters out to me. We then got disconnected because I was on my cell.

I have answered all of their calls and so far and no mention of settlement until now. Is this a settlement tactic they are using?

Thanks!

That seemed a pretty good offer. But it's a wonder why you're missing those letters.

Could it be possible that you might not have received them at all? And I'm confused. I worked as a customer service representative for a bank before and we can always send a new copy of important notices to the customers if they requested, though I think some banks would do it for a fee. I can't see why the person you talked to said it wasn't possible. I've read of similar cases reported at Callercenter.com and usually, they end up scams. It may be far-fetch but this could be another scam. These people have a way of getting information. Trust me, I almost fell victim to this scheme, too.

Your best option would be to contact Citi directly. Or better yet, visit their office so you can also check on what options you have about this account. If the man who called you offered 35% settlement, I'm sure the personnel from the bank can do so, too. You just have to ask for it. Negotiate.

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Gave Citi a call this morning and talked to someone in the Settlement department. Still says she cannot send out copies of the settlement or pre-litigation letters. I offered just under 20% and all of a sudden she could not go below 45%. I told her the rep the other night said 35%, she said no it says in his notes here 45%. I told her that this is all the money I could come up with to settle and I will just talk with the other two creditors and see what they will accept for settlement.

I asked to speak with a manager and told her I know that I have to be notified via letter that I am be sent to the pre-litigation department. She said a manager will be calling me back within 24-48 hours, but my account will be going to pre-litigation on March 13th.

Not sure if this is all part of the game, but starting to get nervous......

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