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Regular Contributor
Posts: 128
Registered: ‎05-27-2007
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Citibank Payment Plan

I have gotten behind on all my cc's.  Cap One worked out a payment plan w/me and as of the 15th I will be current & under my limit with them.  I missed two payments with Citibank and I am now showing a minimum payment of $500.00 from over the limit fees, late fees, and who knows what else.  They will allow to pay $30.00 a month for the next year.  They want to automatically take the payment out of my checking account.  Is this a good idea to give them my account information to have them automatically w/draw?  I have heard some people say no or that the company ended up taking more than allowed.  Has anyone done this before & how did it work?  Thanks
Starting Score 563 10/2/11
Current Score 585 12/30/11
Goal 700
Frequent Contributor
Posts: 401
Registered: ‎05-01-2007
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Re: Citibank Payment Plan

I used to do it with Sallie Mae but cancelled it. I currently have auto payment with my Life Insurance with Prudential (sometimes that take the payment later then it the date agreed). But If I was you, if you have auto bill-pay through your bank or quicken books. I would not trust them taking the payments out of your account.
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Posts: 96
Registered: ‎04-20-2008
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Re: Citibank Payment Plan

We had two accts with Citi when we fell behind and made arrangements with both to catch them up. My DH made the arrangements on one and agreed to the direct withdrawals. I made the arrangements on the other and did not. When they tried to sign me up, I said I was more comfortable handling the payments myself through my bank website and they didn't make a fuss.


Both payment plans were completed without a problem. While I prefer to be the one in charge of when money leaves my bank acct, we didn't experience any issues with the automatic payments. They came out on the day specified and stopped when they were supposed to without any complications. 


I would never arrange auto payments with a CA, but if you are sure you are dealing with the OC, I don't think it's a problem with Citi. 

Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
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Re: Citibank Payment Plan

Jammy, that is a question only you can answer!  All my CCC have all my banking info.because That is how I pay them. Giving that info. is safe.


In saying that....There are many people that have automatic payments set up with their creditors. Speaking only for myself...I never sign up for auto pay!!!  I like to go in and pay when & how much I want. If I make a mistake & pay late then it is my own fault.

New Visitor
Posts: 2
Registered: ‎11-22-2011
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Re: Citibank Payment Plan

That's very interesting.... they had me on a 300 USD mo plan but stopped taking it after 3 months even though funds were available. Even more strange is they refused to give me written confirmation when I agreed. I guess they are a bank so I just "trusted" them. Called them several times but they would not take my calls. Just over a year later legal action has ensured I cannot legally earn any income without 100% garnishment and 100% garmishment of all bank accounts. It will be interesting to see how this plays out....

New Visitor
Posts: 2
Registered: ‎11-22-2011
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Re: Citibank Payment Plan

[ Edited ]

Forgot to mention. Their edited (calloqially speaking attorney) makes every attempt to avoid making a payment plan which could be affordable and have worked... SOL.

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