I recently reached a settlement with a CA who is servicing a Citi CC debt. The settlement with the CA is in writing and I have made 2 of 10 payments to them that will be 50% of the original balance. I agreed to the settlement before I found CB and I want to make sure I don't have any additional options with this account. Can and/or should I request that Citi take the account back and renegotiate with them as the OC and include a PFD? And if the OC takes the account back can I then request validation before I renegotiate? Or should I continue on with my payment plan to the CA and just work to remove the account from my CR? Any thoughts or ideas are greatly appreciated!
I would continue with the plan you already agreed to in writing. At this point, I don't see how you could really go back and request that the OC take the account back from the CA so you could renegotiate with them. You're well beyond that point now, so I would focus on keeping the agreement you made and trying to get them to remove anything negative relating to the account. How did they agree to update your credit reports as part of the settlement?
I was thinking the same thing, but I didn't want to assume. I didn't know about negotiating the account reporting into my payment plan with the CA until now. But I've only made two payments to them and have 10 more to go so there might still be some room for discussion?? Thanks for your comments!
It's not likely. Now that you've agreed to a payment plan, they really have no incentive to do anything more for you. It's much better to negotiate that sort of thing up front. You can always try though. It can't hurt.
