What are 6 ways to pay off your credit card debt?

Here are six techniques for paying off credit card debt the smart way:

1. Pay the most expensive balance first.
2. Try the “snowball method.”
3. Consider a balance transfer credit card.
4. Get your spending under control.
5. Grow your emergency fund.
6. Switch to cash.

How much is my Citibank credit card debt?

Have a debt of approximately $17k with Citibank Credit Card, 162 days past due. I’ve talked to them repeatedly about inability to pay, even offered settlements, but they won’t budge.

When to call Citibank to settle credit card debt?

Even if your debt is with Citibank, the company that you need to contact will depend on how long you have been delinquent on your credit card bill. If your due date is less than 180 days (6 months), it may still be with Citibank’s collections department. This means you need to call Citibank directly to negotiate the debt settlement.

What happens when a Citibank account is charged off?

Your account is a couple of weeks from charge off. When the account charges off citibank will do one of three things: Assign your debt out to a debt collection agency who will call and write to you on behalf of Citibank in order to collect. Sell your debt to a debt buyer like Unifund, Porfolio Recovery Associates, LVNV, Midland Finding etc.

Can a credit card company negotiate a debt settlement?

If the credit card company is willing to entertain the idea of a debt settlement, then the odds are high that they will want to make one of the following arrangements. In this instance, you negotiate with the credit card company to pay a lump sum of money that is less than what you owe.

Have a debt of approximately $17k with Citibank Credit Card, 162 days past due. I’ve talked to them repeatedly about inability to pay, even offered settlements, but they won’t budge.

Who is going to collect on my Citibank credit card?

Other large credit card issuers like Bank of America, Chase, Wells Fargo, Capital One, American Express, Discover, do sue to collect. Sometimes collection efforts on these credit card accounts wont occur until some time down the road, or after your credit card account is sold off to a debt buyer.

Is there a way to settle my Citi credit card debt?

If you want to settle the Citi debt, you have to identify a source of funds to do so. The account is not going to go away after charge off. You will have options to make a payment plan or settle the account wherever it lands. My concern is that you do not appear to have the money to do so. Have you looked into your options with bankruptcy?

What happens if you miss a Citibank hardship payment?

After each year that goes by, you need to call them to renew the deal and see if Citibank will offer different types of help from their hardship program. If you miss just one monthly payment, the credit card hardship deal is canceled. So pay on time going forward. One customer owed $25,000 on their credit card.