"We have been unable to come to an agreed repayment plan with you regarding this debt. We are authorized to offer you a settlement for less than the full balance on your account. Unless we enter into a mutually acceptable agreement, the account will be returned to Citibank for review for referral to an attorney licenced in your state."

What a pain dealing with these people. I tried to reach an agreement with them, I offered to pay the full balance over time and they refused.
Now that I have this letter, any suggestions on what I should do. I have some questions:

Should I offer a lessor amount and if so, what should I offer? The debt is between 4500-5000.

If I do reach an agreemnet with them for the debt, what guarentees should I get regarding my credit report? How will it show up, from them and from citibank.

If I cannot come to an agreed upon settlement with them, should I call Citibank directly and try to negotiate with them.

Finally, should I report them to the FTC and Attorney General for the false threats on the lawsuits.

Some general advise would be great as I have never been in this situation before.

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