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I Want to Buy My Debt for Pennies on the Dollar From Citibank. – TiGi

“Dear Steve,

It is my understanding that if you owe a large amount on a credit card to Citi and then default that you have a good chance of buying your debt back from them at pennies on the dollar. Is that true and if so what written terms do you need to get from them so that the debt will show up as paid (but maybe not as agreed) on your credit report.

TiGi”

Dear TiGi,

Nice try. Citibank isn’t going to give you the time of day on that one. You have no chance of buying your debt from Citibank. Citibank and other creditors sell bad debts packaged with thousands and thousands of accounts costing millions and millions of dollars to qualified purchasers.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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