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Settlement with OC Safe? CITI
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Posted by DJM
(66.24.1.138) on July 15, 2004 at 23:08:52:
Won't bother with details of how I got here but I am near the 180 day mark with 20K & 2 creditors. The first OC has agreed to a 50% settlement sending letter today that says account bal will be zero, account will list as R5 settled. Is this good? I offered 55% for a "paid as agreed" listing but they refused. Anything I should watch for? Can they sell bal of debt to a CA? Second OC is CITI, not so nice. They want 70% with approx 30 days till Chargeoff. My goal with them is 60% I have offered 55% so far. Payoff source is 401k loan 4% x 5yr I'm OK with that to be done with this. I'm in NY and already own a home ( little equity) and 2002 car so don't need major credit in near future. (just a raise) but at least my job has not "outsourced" to India YET.
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