What is the wording to ask Citibank to settle?

[Labonte18]

Originally Posted by athena53

I'd suggest an approach that's less of a lie: "If I declare BK to get out from under this, there's a chance you'll get less than what I'm willing to pay right now". You're not saying you WILL, but at least you're not making up a terminal illness.

Lesson learned, I hope. Don't carry a balance on your credit cards.

I was so ticked last year.. I paid off my Home Depot credit card after having made a purchase, but I didn't pay enough attention on the site when making the payment.. The default was pay the 'Minimum Due", which was $25.00.. The balance was $25.79 or something.


So, I wound up paying $1.50 in interest I think it was (minimum charge).. First time I've paid interest on a credit card in at least 6 or 7 years.

yeah, I know, I'm breaking some people's hearts around here with my whole $1.50 tale of woe.. But it did **** me right off!


It took me a while to 'get it'.. But once I got it through my head that CC limits weren't my money.. My life became much easier.

[athena53]

Originally Posted by Labonte18

It took me a while to 'get it'.. But once I got it through my head that CC limits weren't my money.. My life became much easier.

I agree. I watched my Ex sink into cc debt by paying the minimum every month and then maxing it out again as soon as he could (and the banks were very generous with credit limit increases). Unused credit limit was money available to spend. When you do the math on the amount of interest you pay in a year on an $8,000 or $10,000 balance, that's a lot of money that could be put to better use.

[Parnassia]

Originally Posted by athena53

I agree. I watched my Ex sink into cc debt by paying the minimum every month and then maxing it out again as soon as he could (and the banks were very generous with credit limit increases). Unused credit limit was money available to spend.

So true. Years ago I remember listening in disbelief when my youngest sister tried to tell me how much $ she had available to spend because of her credit card's nice fat credit limit. It took a lot to convince her otherwise. Yes, she did end up in trouble because of it, but luckily learned the lesson. It was an eye opener into the assumptions many people make about money.

[Labonte18]

Originally Posted by athena53

I agree. I watched my Ex sink into cc debt by paying the minimum every month and then maxing it out again as soon as he could (and the banks were very generous with credit limit increases). Unused credit limit was money available to spend. When you do the math on the amount of interest you pay in a year on an $8,000 or $10,000 balance, that's a lot of money that could be put to better use.

I got lucky.. I learned my lesson in my early 20's.. Actually when I was in college.. This would have been early 90's. I got a credit card with a $1000 limit. (Hey, for a college student at the time.. it was alot)



It got almost instantly maxed out. I got it paid off and cancelled it, which that part, wish I hadn't done.. Wish I had just shredded the card and left the account open..



I didn't get another card for about 10 years. Once I got to the point where I felt I could be responsible with it. I wanted something with a piddly little $1000 limit again.. Bank laughed at me. Said the smallest was $5k
So, I got that. And then, as my credit has now hit the 830 range.. They kept doing increases and I had to ask them to stop. If I wanted an increase, I'd ask for it. it's only $14k limit, but.. I'm comfortable with my maturity that I won't go insane and get anywhere even close to that.

The last time I carried a balance on it was 5 years or more ago. And that was only a thousand bucks or so and only for 1 month.


I was mad that I had to pay interest on the new truck I bought. Got a decent rate on it.. 2.9% I think, but when I bought new vehicles in 97 and 05 I got the 0% interest deals.

[LiveLoveLaugh]

Originally Posted by idahopotato

"Stick em up." Just kidding.

Lololol