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Tag Archives: citibank

Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

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Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem may exist here. One commenter ... Read More »

Morgan Drexen Rumble With CFPB – Update

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Previously covered the suit filed by the debt settlement company Morgan Drexen against the CFPB, here. Today I went to see what, if any, updates there were on the case. Here is the latest: “The Court held two on the record telephone conference calls with the parties on July 24, 2013 and July 25, 2013, during which Plaintiffs consented to ... Read More »

How Creditors Rate at Helping Consumers Settle Debt

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Michael Bovee, over on his Debt Relief and Credit Guides site has published a very good guide for people about how the major creditors are at providing settlements for problem debt. It’s a really good list and it ranks Chase, Bank of America, Wells Fargo, Discover Card, Citibank, Capital One, and American Express. For example, Bovee revels the best creditor ... Read More »

Debt Relief Bureau Logo But Not the Debt Relief Bureau in This Mailer

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When if the Debt Relief Bureau, not the Debt Relief Bureau? When you get a flyer in the mail from an anonymous source promising you help to get out of debt. An amazing reader Tish sent in a new debt relief mailer through my I Buy Junk Mail program. Well here is another anonymous mailer sent to a consumer that ... Read More »

Billions Now Available for Foreclosure Victims. Banks to Notify Consumers.

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Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers. The sum includes $3.3 billion in ... Read More »

Citi Price Rewind Program. Good Deal or Something to Avoid?

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Citi has just announced a new program called Price Rewind. On a quick glance it looks like an interesting concept. It’s billed as free service for Citi Card holders who register to let the autmated system hunt for cheaper prices on products they’ve purchased using the card. If a lower priced item is found within 30 days from purchase you ... Read More »

Doubts Spread About Independent Foreclosure Reviews

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by Paul Kiel ProPublica The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response, the government mandated they compensate the victims. But there is growing evidence some banks are playing a major role in identifying the victims of their own abuses, raising ... Read More »

My Citibank Credit Card Has Been in Perfect Standing. Can I Settle the Account? – Matt

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“Dear Steve, 31 years old, very good credit (790+), $9,000 in credit card debt – all accounts are current and never have been delinquent. Hoping you can offer some advice! I have a Citibank credit card account that I’ve had in perfect standing for over 6 years now. A couple of years ago they said they were increasing my interest ... Read More »

Citibank Says They Can Give Me a Much Lower Payment and Interest if I Go to a Branch. – Michelle

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“Dear Steve, Due to some medical expenses and lack of work for a few months I did get behind on my credit card payment..I’ve made small payment but not enough to get me currant I’m 88 days past due… I’m trying to get current on my citicard but can’t seem to make up for 88 days of being behind…citi has ... Read More »

OCC Issues Cease and Desist Letter Against Citibank

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The OCC announced it has sent a cease and desist letter to Citibank regarding “identified deficiencies in the Bank’s overall program for Bank Secrecy Act/anti-money laundering (“BSA/AML”) compliance” As we all know, banks make mistakes. It just seems that typically it is the consumers that wind up paying for them. The OCC found that the bank’s BSA compliance program had ... Read More »

Citibank – Scam, Complaint, Review, or Praise?

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Please share your experience with this bank and provide your review and feedback, in the comments section below. The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this bank. Here are some potential questions you might be able to provide ... Read More »

I Can’t Dig My Way Out From Under My Citibank Card and We Have a Child on the Way. – Kristen

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Hi-I’m 29 years old and received my first credit card when I was 22 with no credit history–a shiny new platinum citicard with a $4000 limit. I was in grad school at the time and for a while had some difficulty making payments on it. They even increased my limit to $5500 during this time. When I was 24 I ... Read More »

Chase and Citibank Said to be Refusing Escrow Company Payments on Debt Settlements

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I just heard from the CEO of a debt settlement company that said his third-party escrow company is getting flooded with refused settlement payments sent from the escrow company to Citibank and Chase. The CEO said he’s had client payments refused in just the past couple of days. These settlements were with law offices and third party collectors on behalf ... Read More »

Citibank Debt Collectors Reportedly Killed Debtor for Complaining About Credit Card Balance

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A consumer who owed Citibank in Indonesia is reported to have been murdered after complaining about his growing Citibank debt. This is the second recent criminal case filed which involves Citibank employees. The other involved embezzlement from a customer account by a Citibank employee. The Jakarta Post is reporting: “Citibank customer Irzen Octa, who was also the secretary-general for the ... Read More »

Will Citibank Really Take Me to Court? – Kathy

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Several credit cards from years of build up. Totally approximately 50,00.00. Went into a debt relief program with complete debt services for a year. They settled two small ones. A week ago I got served with a summons from Citibank for 12,000.00. I panicked and called a bankruptcy attorney and decided that was the route to go. I answered the ... Read More »

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