How would you like to learn how to settle your Citicard or Citibank credit card debt for pennies on the dollar? I have successfully negotiated and settled my credit card account with Citibank and paid 32% of the balance over a three-month period and wiped out almost $10,000 in credit card debt.
This is something you can do on your own without hiring a debt settlement company who will charge you a few thousand dollars in fees, increase your chances of getting sued by your credit card companies, and not getting the best settlement offers you could by doing it yourself.
It is possible to negotiate and settle with all the major credit card companies such as Citicard or Citibank, JPMorgan Chase, Bank of America, and Discover Card to name a few.
They do not like to advertise these financial hardship programs but it is to everyone’s benefit that they have them available to consumers like you who have fallen behind due to circumstances that may or may not be in your control.
The way to settle Citicard credit card debt is to stay in contact with them and let them know of your financial hardship and that you cannot afford to pay them right now and you cannot commit to a debt counseling or other type of repayment plan because your income has decreased, you have lost your job, or you have incurred unexpected medical bills or whatever your reason may be.
It is better to try and settle with your credit card companies than to try and settle with a debt collector.
Your credit card company has to charge off your account after six months of delinquency and send it off to a debt collector. The closer you get to the six-month charge-off period, the better the settlement offer will be.
Make sure you have enough money saved up to pay for the settlement once you have reached an agreement. You do not want to lose out on a good settlement offer because you did not have the funds available to take advantage of it.
Let Citibank or whatever credit card company you are dealing with know that you want to avoid bankruptcy at all costs and would like to negotiate a settlement on your credit card debt. However, do not mention settlements until after the first three months of delinquency. For the first three months, all they will try to do is get you onto a reduced interest or lower payment plan to keep your account from going seriously delinquent. So you have to wait before you mention a settlement offer.
But stay in contact with your bank and let them know about your situation.
That is the basics of how you settle Citicard credit card debt. You can learn more with Zipdebt do it yourself debt negotiation and settlement training program. You can learn the exact script to negotiate with your creditors and get the best settlement offers possible, as low as 32 cents on the dollar is possible. Sometimes you can do even better.
This is the best option for dealing with your credit card debt and avoiding filing for personal bankruptcy which has a 67% failure rate even if you do file. Download free debt elimination report to compare your options.