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HELP--CITI debt transfered to LTD collections


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Posted by Sweetyb (134.71.140.80) on January 12, 2004 at 19:52:45:

I tried looking for another thread for answers, but I will just have to post. Great website, and great advice you all!
_________________________________
STATE: California
DEBT: $1845
LAST PAY TO CITI: May 2003
CREDITOR: LTD Financial Services
ORIGINAL CREDITOR: CITI Cards (a Washington Mutual VISA credit card offered by ASSOCIATES VISA, who were bought over by CITI I believe this time last year). They transfered my debt to LTD Dec03/Jan04.
__________________________________

I need to know how to address the collection agency (LTD) about settling my debt.

I have been trying to get a reasonable settlement offer from CITI since March03. I wanted to settle on both my CITI cards for $600, $300 for both. I explained in letters about the passing of family members that have required contributions for funerals (which was what the cards were for), and my transfer to a university for where I will no longer be working full time and will rely mostly on Financial Aid. They accepted my offer of $300 on on only one of two VISAs, which I sent to them and now that account is closed. The problem now is settling this second one.

For this second card, they have been acting as if a $300 settlement is unheard of, yet they settled for that much for my other card. When I tell the caller this, they take a note of it and call it a day. The best offer I have received from them was maybe a 54% settlement, and the deadline for that was a week before New Years.

Now, my account is with LTD and I am wondering if it's still the same game, or do I have to start all over by sending them the same letters I sent CITI? Is it completely over with CITI or is this just a little scare? Where do I go from here?

Any help is very welcome.


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