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.