I wrote this letter to Citibank, and I was told that they would not do anything to help me. They would rather I file for bankruptcy than take my payoff.
A situation has recently come to my attention for which I am asking for your help. I have been a customer of Citi Card for years. You were kind enough to allow me to be placed on a payment plan. My bill is 11665.06, and I was paying 366.00 a month, but my family has fallen on hard times and I have had to go to a Debt Management Program. I was told that you are unable to accept my payment of 311.00 a month. I had to go to a debt management program so that I could pay all my debts. I did not think it would be fair to file bankruptcy and not pay my debts back.
My problem is that when I pay 311.00, which is all I have left in my budget, the interest and charges are from 309.00 to 315.00 a month. So even with this minimal payment, it would take me 29 years to pay off 11665.06. If you check your records, my beginning balance was a little under 17000.00 and I was paying it down faithfully. I am now asking for help. I have already paid so much in interest that I am begging you to reduce my debt a small amount. I am willing to sell my car, and I will get about 7000.00. I would like to know if you could take this as a payoff.
I really want to pay off my debt and not have to take the next step, which would be bankruptcy chapter 13, which means no one will get any money. I have always been one to pay my bills, and I would like to pay this off rather than have it charged off or written off. It has already hit my credit and made my score bad, so I have nothing to lose, but I would like to pay my debt off the best I can.
I have called Citibank several times asking to speak to someone about my account, the last time on 10/31. They always say they cannot help me and that there is no one else who can help me, because they are only allowed to help one time with a credit card. Citi Card (Citibank) is a huge, successful company that I am sure cares about its customers. You have a good reputation with your customers and creditors, which means you have to be a company that cares.
I am enrolled in the Credibility Debt Management program. I will provide my account number and my pay check stub as proof of not being able to meet this debt. I have someone willing to buy my car, and I would like to take care of this transaction as soon as possible. My effort is aimed toward making the most out of a bad situation with your help. Thank you is a small token for what I am asking. I look forward to your prompt cooperation.
They would not help me at all. What kind of company would rather have its customers go bankrupt?
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