I owe Citibank $2841. Account opened in 94 and was C/O in 98. Account now w/ CA is up to $4000 with interest+penalties. The other day, I called Citibank to make a settlement. They couldn't find my account. A day or so later, I get a letter in the mail asking me to send them a current copy of my CR, showing items in question with a letter of explanation. I have done nothing yet with OC. But I did discuss a settlement w/ Citibank's CA for $1420, and they are only willing to update CA TL with "paid in full with zero balance". Note that this doesn't erase OC TL. With CITIBANK, should I validate, or skip that step and go straight to dispute? Is this a case of "Citibank lost my account and wouldn't be able to validate?" Or do I just pay CA in full? If I dispute or validate, will CA get angry that I'm validating/disputing and possibly renege on their settlement offer?
Has it been longer than 30 days since the CA informed you of the debt you owe? If not, you can still validate. Citibank, as the OC, does not have to validate the debt as per the FDCPA (this only applies to debt collectors, not creditors). However, if Citibank can't find the account, chances are the CA won't be able to get the proper validation from Citibank to send to you.
In a message dated 5/3/03 7:14:54 AM Pacific Daylight Time, LBrown59 writes: 1* Has it been longer than 30 days since the CA informed you of the debt you owe? If not, you can still validate. 2* if Citibank can't find the account, chances are the CA won't be able to get the proper validation from Citibank to send to you. Shadowbox =============== 1*Forget the 30 days! He can still Validate.ShadowBox click on the validation link below to learn more about validation. 2*This is why he shouldn't shoot himself in the foot by contacting Citibank ! ~ ! The END ************************* LB 59
2*they are only willing to update CA TL with "paid in full with zero balance" Note that this doesn't erase OC TL. 3*With CITIBANK, should I validate, or skip that step and go straight to dispute? 4*Is this a case of "Citibank lost my account and wouldn't be able to validate?" 5*Or do I just pay CA in full? If I dispute or validate, will CA get angry that I'm validating/disputing and possibly renege on their settlement offer? Ernie ================== 2*Worse yet: It doesn't lessen the damage of a collection account. 3*Neither.Leave citibank out of it for now.This is important! 4*Like I said in 3*leave them out of the picture for now.Why do anything with them that could cause them to find the account? If they would happen to find it that means you are screwed by both CITI and the CA. I'm sure you don't want that; Rite? 5*Why worry about the CA reneging as they haven't offered a settlement worth considering anyhow?As far as reaging that's another 1000 dollar violation for you if they do that. The END *************
Citibank sold my account to a CA a few weeks ago. I got the same letter from Citi when I tried to validate. Seems to be a standard response. Citi came off my report when the CA took over. As mentioned...it's never too late to validate.
I am skipping the CA validation and going straight to dispute with the CRA. I have "reason to believe" I might get lucky and they just might not respond to the CRA's inquiry into my dispute. Important: note that this is not standard protocol.... generally you don't dispute until you've first tried to validate and get the CA's response. My situation is slightly different. More explanation on that to come at a later time.
My situation is slightly different. More explanation on that to come at a later time. ernie_j_c ===================== Why didn't you do this right off the bat so you could have gotten better input and maybe more desirable results? THE END ** *** ** LB 59
Re: Re: Citibank I should clarify. I recently learned the recommended protocol. And what makes my situation different right now is that I do not need to worry about the CA currently involved, which is not usually the case. I may be wrong though, so that's what I meant I'll explain later. (It's too early to tell, I have to wait about 45 days.) I do plan to update though.
