CitiBank referred to attorney

I stopped paying Citibank 5/1/11 and have been trying to negotiate a settlement. On 7/24 they offered 50% (11,600 original bal). I don\'t have $5800 to send them, told them I needed a better offer. They\'ve now sent my account to an attorney, who told me his office handles Citi\'s \"non-judgement\" accounts.

Q1: He says I should have taken the 50% because the lowest he can go is 70%. Is he bluffing? I\'ve heard many people say Citi was especially tough - what is the best I should hope for?
Q2: He said I have 35 days until he files suit. Once they file for a judgement, is settlement still a possibility?

Thanks to the advice on this site, I have settled four other cards at 20% each! Two BofA and Two Chase accounts total settled $32k at $6,500! Whoo-hoo! Unfortunately, I still have a mountain to move- one shovelful at a time.

1 Answers

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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