Debt Settlement Letters - Citi Cards
The Debt Settlement Letter Shown Above Was Obtained From Citi Cards
The above settlement from Citi Cards was obtained at 25% of the existing balance. Citi Cards was willing to accept $3,561.75 on a $14,246.97 debt. This is yet another unusually good settlement offer. The usual settlement, based on past experience and industry trends, is between 40% and 60% of the existing balance.
“Your At&T Universal Card account is seriously delinquent. Due to the status of your account, we are willing to settle your account for 25% of the current balance, which is $14,246.97. The settlement amount is $3,561.75. We must have this settlement amount paid in full no late than 05/23/2005 or this offer will not be valid.
The benefits to you are:
- Your account will have a zero balance and will be reported as such to the credit reporting agencies.
- (2) You will have saved $10,685.22.
- (3) All further collection activity will cease including the possibility of referral to a collection agency or attorney for non-payment."
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