I have an account with sears which is owned by citibank. Principal balance is $4800. I am attempting to negotiate a settlement, and they tell me they never go below 50% of prinicpal. Then they offered me 40%. I am prepared to pay 20% What has been your experience as far as settlements with citibank?
I contacted Citibank to settle on a CC that was charged off 2 1/2 years ago. I offered them 5k on a 12k balance. They said the lowest they would go was 70%. I told them that wasn't going to happen. So, I'm waiting to see if they come back with a counter offer. I really wouldn't waste my time with them, but I have to clear it up this year, since it could negatively affect my employment. Good luck
