Posted on Tuesday, 11th January 2011 by Lucy Hales
Citibank debt settlement is easier to achieve these days, especially if you can wait it out until Citibank gives you an offer you can’t refuse. You would have to ignore many phone calls. If do pick the phone up, and the offer is not to your liking, politely explain that you have to consider it. You can settle with Citibank in two ways. Offers must be received in writing.
The first settlement is the percentage of the amount you owe. Recently may borrowers have managed to settle their unsecured debts for as little as 20% of the debt amount. So for someone owing $20,000 to Citibank, the settlement amount would be just $4,000. Not bad, but any offer under 40% should be seriously considered.
The second Citibank debt settlement that many are offered is 0% interest rate for 12 months with automatic monthly payments deducted from your checking account. This is a very nice deal, if you can afford it. For $10,000 debt, the monthly payment would be $833.33, a significant chunk of change for many. With such an offer, you must always have a sufficient sum to cover you monthly payments.
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Tags: Citibank, Debt Settlement
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