Settling Debt with Citi via Mail, need help

[jag1500]

I owe $9500 on my citi card. I have few other Credit Cards that I owe money on and am behind 2 months. However, on this Citi Card, I missed 3 months of payment and 4th month going on. I sent them a debt validation letter via certified mail and they wrote back my debt is valid and how much i owe. I wrote back and said "Please send me the original signed contractc to validate the debt and I am willing to settle for 25% of the amount minus interest and fees and that they mark my debt as paid in full". A day after i get the mail which they wrote before getting my mail tyhat they will be sending my account to collections in 14 days. I then recieved one call from collects but nothing for a week after that and Citi wrote back and said "Before we can consider your offer it is neccesasary that we speak with you first". and gave me a number.

 

Should i write them back and say all communication should be via US Mail and offer them $2200 settlement amount or should i call them? I never picked up their phone in the past and have only mailed them. I am worried that they might get info from me on the phone to use against me.

 

 

[howucan2]

Citi will accept 50% nothing lower than that !

 

Now DV does not apply to Citibank because it's not a debt collector (but it could become one, your state has Rosenthal act ).

 

You will start getting debt collection calls from different area codes and numbers who are collectors for Citibank (citcorp credit services).

 

If calls are being placed to your cell phones and you have not consented to receive calls to that number (menaing it was skip traced because you once called Citi from your cell and it was put into data base) then I would send a letter CMRR and revoke consent to call (I'll be specific and write the number so they are aware ).

 

Calls will come no matter which way you slice it, but at least I would start documentation (saving the caller ID pictures or phone records or messages) to prove deception.

 

Not to scare you but Citibank is notorious and will sue within six months after first payment is missed, so gear up, get your documentation in order, to force a favorable settlement . While you are at it read the posts related to Citibank and read up on your state laws.

 

I forgot to add; I never called anyone, I know OCs keep call logs and notes, it's better not say or write anything that could be used against me !

[jag1500]

Not to scare you but Citibank is notorious and will sue within six months after first payment is missed, so gear up, get your documentation in order, to force a favorable settlement . While you are at it read the posts related to Citibank and read up on your state laws.

 

 

Thanks for the response. I have got 2 calls from collections in 2 weeks. The agency is United Collection Bureau. Not sure if Citi still have my account, or sold it to this United Collection Bureau.

 

I thought Capital One was notorious about suing, If they do sue me, what kind of documentation or case can I have to get Favorable settlement?

[howucan2]

Have you checked your credit reports lately ? It should reveal if Citibank still owns the account.

 

If the account was originally Sears or Home Depot account (serviced by Citi)  in 2012 Citibank got ride of its "retail" accounts, so there is a big possibility of it being sold if it was retail. On the other hand if the account was an Original Citibank Card or premeir etc.then Citibank will not sell it will hold on to it for life and will sue after 6 months (approximately at Charged-off) although mine sued before the Charged off, that's b/c I wasn't nice about getting ripped off !

 

Although, it may be taking a risk if  C&D letter is sent to OC, but one can be gentle in the writing to allow communication by mail only because one does not want to get sued right off the bat !

 

I did send cease call letter to stop calling my cell phone to creditors b/c I never given written consent or permission to reach me through that number.

If they are calling your cell number then writing to stop is crucial in my opinion.

 

I sued another big bank for auto-dialing and calling my cell number with pre recorded messages when they did not have my permission. I wrote a brief (CMRR) letter and asked the bank to stop calling that number, but it did not honor my request, I had documents, pictures , recorded calls , messages as proof. 

I was already in another battle with that bank (in a state court) where they sued me, I turned around and sued in district and got a chunk of their skin.

 

If you study your state and federal consumer protection laws and learn about your rights, then you can definitely learn how to play ball with them !

[jag1500]

Have you checked your credit reports lately ? It should reveal if Citibank still owns the account.

 

 

Update: I got a letter from United Collection Bureau. I sent them a Debt validation letter Certified w/ RRR. They recieved it on June 3rd. I have not heard back from them since.

 

I check my credit report with CreditKarma.com and it has no record of this account.

 

Is it true that if they do not validate the debt in 30 days, they cannot report it? Can they still collect on it or sue me?

[admin]

Update: I got a letter from United Collection Bureau. I sent them a Debt validation letter Certified w/ RRR. They recieved it on June 3rd. I have not heard back from them since.

 

I check my credit report with CreditKarma.com and it has no record of this account.

 

Is it true that if they do not validate the debt in 30 days, they cannot report it? Can they still collect on it or sue me?

They can still report it, though after a debt validation request, many of them choose to not report it, preferring to go after easier targets.  They can also still sue you for it.  However, again, since you have telegraphed your knowledge of your rights, they may choose to go after easier targets and leave you alone.  The other thing they could do is just turn it over to another collector.  Don't be surprised if you get another letter from someone else.  Then you'll just have to start over with them.  

[BeachesandBeer]

Citi will accept 50% nothing lower than that !

 

 

Not to scare you but Citibank is notorious and will sue within six months after first payment is missed, 

 

Wrong on both.........

 

I originally called all OC'S and told them unemployment is gone and still off work. That was 2 years ago and after being passed among numerous collectors I just got an offer for 25% of $7250 balance for Citi. Now comes the fun part.......do I try to settle and risk them filing suit presuming I can now pay or do I leave them on ignore and risk suit later? From what I have read they all have to file 1099c's by the end of the third year and it looks like none can sue after that so I may wait it out.

[jag1500]

Wrong on both.........

 

I originally called all OC'S and told them unemployment is gone and still off work. That was 2 years ago and after being passed among numerous collectors I just got an offer for 25% of $7250 balance for Citi. Now comes the fun part.......do I try to settle and risk them filing suit presuming I can now pay or do I leave them on ignore and risk suit later? From what I have read they all have to file 1099c's by the end of the third year and it looks like none can sue after that so I may wait it out.

 

From my research and talking to people on this forum (they have been very helpful), Citi nowadays only goes down to 50%, not lower. I tried, I have been talking to citi and finally settled for 50%. You can get a lower per4centage by letting it go to collections. However, you will have another negative mark on your report. Your seems like have already gone to collections. Look at the statute of limitations in your state, if it is 4 years, they can't sue you or collect after that time period. You can wait it out or settle, it is you own choice. If you want to improve your credit you can settle, if you do not care about your credit, you can wait.

[admin]

From my research and talking to people on this forum (they have been very helpful), Citi nowadays only goes down to 50%, not lower. I tried, I have been talking to citi and finally settled for 50%. You can get a lower per4centage by letting it go to collections. However, you will have another negative mark on your report. Your seems like have already gone to collections. Look at the statute of limitations in your state, if it is 4 years, they can't sue you or collect after that time period. You can wait it out or settle, it is you own choice. If you want to improve your credit you can settle, if you do not care about your credit, you can wait.

@jag1500 - couldn't have said it better myself.  

[energizer]

I would like to settle? i had earlier DV'd United Recovery Systems Collecting on behalf of CitiExxon. In and within the first 30 days i received validation/statements of 1 year of my credit card. Then i haven't heard back anything or received any settlement offers?

 

Am i better off negotiating with United Recovery (they are local CA) or CitiExxon? has anyone had success getting <50% settlement.

 

Same CitiShell account had CA as GC Services; did validation & GC services responded with validation?

 

What do you think is the best way to approach this? Both accounts are chargedoff & DOFD is Dec/2011. so its been year & half  & i have not seen a lawsuit yet, even after i complained to CFPB? how come?

[admin]

If you can deal with the OC, it's always better, then you can get off collections tied to the OC accounts.  If you want to settle for the least amount of money, settle with the collection agencies, but it's tougher than to get these collections off unless you can do pay for delete.