Brighterfuture85

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Hey folks, Please let me know if you have a phone number and contact at the executive office for Citicards. I need to try and get an account that was charged off back to them in order to negotiate a pay for delete. Need to do this today !!! Anyone? thanks a lot

thanks for your comment. I guess I could ignore the CA but since I want to settle and the OC refers me back to the CA who they hired, then I don't see why I wouldn't deal with them. As you said everyone's situation is different. But there is also a lot of "paranoia" that goes around on forums and one needs to be able to filter only the good info. In example I might jeopardize my settlements if I go back and start demanding no 1099 or to add this and that, when their letter is totally accpetable and it is clear who the OC credito is, the amount owed, the amount needed to settle, and that it will be settled in full after pymt is received. As far a the pymt method, the cashier's check from the bank may work better since it won't have my account information on it. But just wanted to have the proof on my bank statement and the back and front copy you get when someone deposits the check into their bank. .

well.. in that case, then even if they write all the stipulations you refer to, then the OC won't be obliged. So what is your suggestion, that I get the OC to sign the letter the CA send me? Have you been able to get a CA working on behalf of a OC to state the OC won't issue a 1099?

because the Original Creditor is reporting even if the CA is not. And because the OC have not sold the debt, the CA has no intention of reporting, BUT when you call the OC, they refer you to deal with the CA, which is fine, since they have worked with me on good settlements. And because I want to put this behind me and not be in fear of getting sued, which they can since a few are attorney's offices. Now I don't get why some were stating I should get them to say they won't sell the debt. They can't they don't own it. Also, it states the settlement is payment in full. If the debt gets sold, all I have to do is show that letter and payment confirmation to whoever is coming back for more. Also, they OC has to report 1099-c by LAW.. how is it even possible to negotiate that they do not report to the IRS? If I can fine tune my work, I will, but not sure if necessary,

They haven't even reported to my credit report. NONE of the CA have. They won't either, i asked. I have in writing that by receiving X amount they are settling the account if FULL.. they do add a disclaimer stating that the OC migh issue a 1099 for anything over 600 but I already knew that and didn't know that you could even negotiate that if that is what you are trying to say. In any case, it won't be difficult to claim insolvency when I have to report 2012.

thanks maquique, but would I have a reliable paper trail with a prepaid card? At least sending a check will leave the amount showing on my bank statement. I am thinking they wouldn't go to the extent of fraud by trying to get money out of my account off a check ,,, they have sent me the settlement offers via fax and they are big known agencies at least,.

because they are they ones who handle the OC collection and I am settling for 20 and 10 percent.. which I think I should just take. DId you have a suggestion that I might not have considered maybe and that is why you ask? thanks

Hey folks... I am getting ready to pay off some debt and need to choose the proper method to pay the CA. Concerns for the following methods, please suggest the best way to get this done and comment on the following. I appreciate it. 1) Pay over the phone with my checking account. but I am hesitant and do not trust that they will take the "correct" amount. Or if they can come back later and withdraw by "mistake" thoughts on that? 2) Personal check, they might get my account number but I don't see that as a big problem or should I worry? 3) My bank's bill pay. They get a check without my bank account number. I can track it, and the amount will be shown on my statement. Enough proof? I just don't get the "mailed" tracking from USPS. Thoughts... what should I choose? thanks a lot!

thank you for your input.. I might have to come back just to file bk.. I won't have problems staying overseas.., i have no family here.. i got divorced last year and that was the end of my ties here. My wife left me with 30k of credit card debt that I paid off to help her, now that we are not together she won't pay it back and I am screwed. I might try to short sale the house, but then there is a deficiency Im responsible for. THe BK lawyer said that foreclosure would be better because there is no liability to me after it forecloses.

you'll be better off filing now - debts are tolled while you are gone and filing now and returning in 2 or 3 yrs gives you a head start to better credit. if you wait, it just adds more years and a worse looking CR. You'll come back to a cleaner slate... You are correct my friend and that is the sole reason I wen to see the bk attorney. The problem is that I do have a little bit of cash that I want to take with me to start a new life you know and giving it up to the trustee to pay creditors doesnt pay them off completely and it will, in the end, hurt my credit the same way,. So I can't file before I leave or I lose the little I have left. It would have been a different story if the debt was all mine, but I helped the no ex-wife transfer her balancese with high interest rates and now it is my debt in my name only.. it hurts to think about paying that..

that is a good question, I plan to return but who knows I may never return or return in a couple of years. I have to be prepared to come back to judgments even though I wasn't here to be served. I might as well file ch 7 when I return.

thank you guys for your replies. I talked to a BK attorney and he said that they can't serve me with a summons if I can't be found. Well, I will be gone out of the country, so they won't be able to serve me. I am afraid they will be shady and serve me or pretend they did and issue a default judgment and I will not know. Have you heard this happen?

Hello folks, I was successful at getting all my credit cards to put me on a hardship program and lowered my payments and interest rate, I went through great lengths to get it done and I've been paying them on time. My situation changed though and now I will have to leave the country to take care of my Father who is ill with cancer. I have no relatives or family here in the US and it is time for me to go back to my homeland and take care of my own. I will be leaving at the end of the year by December or maybe sooner depending on dad's health. So it doesn't make sense to me to keep paying on my cards. Here is what I have: BOA: 8k Discover: 2k Cap 1: 3k Chase: 6k Citicards: 15k Heloc: 15k Mtg: 108k 1) How long does it take them to start suing me after I Stop paying them? 2) Can they grant a default judgment if I am overseas? I guess I am asking if they can serve me even if they can't find me since I'll be 3k miles away and won't know anyways. 3) If I end up being served without being in the US and the default judgment is granted, I am better off attempting to file for BK instead of fixing the judgment correct? 4) Can you file BK 7 while you live overseas? Any insight will be appreciated... thanks folks!

Thanks Cinderella.... I will do just that. If I get approved, what is the rate that they typically give? I am at 5.78APR... conventional and I they don't escrow my taxes nor my home owners. I also have a HELOC with them, will they look at that as well for a reduction in rate? the rate is really good at 6%, but at this point is not whether the rate is good or not, is about being able to pay the monthly dues. Should I keep making payments or default on MTG and HELOC.. would that make a difference?