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Citybank/ARS Collections & Offer of Settlement


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Posted by Puzzled (64.12.96.205) on June 30, 2003 at 22:31:06:

I hope someone can help me shed some light on this since I think there is something fishy about this deal. I had an account with AT&T Universal which became Citibank, went into default due to some unforeseen personal circumstances. I was contacted by ARS who claims whey are acting on behalf of Citibank. I asked whether they actually were hired by Citibank to collect on this account and could act on Citibank's behalf or whether Citibank sold my debt to them? If they were acting for Citibank I was going to offer a settlement amount. The girl who called me said it she had to talk to her supervisor, M. I talked to M. who told me that she could offer 45% on the $$$ on behalf of Citibank but I had to take it today. Citibank had authorized them to make these offers to qualified individuals but the last day was 6/30/03.

I said I had to call some people/friends/family to see whether I could raise the money. I called them back and let them know that I could not get in touch with anyone, which was actually the truth.

However, my concern is how legit is this offer since I am showing on my last credit report that AT&T Universal was charging off about the 1/2 of the amount I actually owed. ARS was offering me a settlement slightley above AT& T's chargeoff.

The last time I made a payment to AT& T Universal was about 12 months ago.




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