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New to the board. Read lots of threads already, how do you negotiate with your creditors?

New Visitor

New to the board. Read lots of threads already, how do you negotiate with your creditors?

I should say right off that I declared (chap 7 ) BK in 1997 and built my credit all the way back up to the low 700's but now through bad decisions and foolish spending I'm in trouble again. Since I built my cred back up I haven't missed a payment on anything. Here is a list of what I've got now.

Citibank Personal Loan $21,000.00 payment $511 per mo. for 4.75 years
Discover $3600 payment $100 a month (what I pay) min is about $80
Citicard $1600 payment $100 a month (what I pay) min is $100 but no interest for 9 mos.
Personal Credit line $2500 payment $100 a month minimum is $80

So I decided to go back to school and bought all these books and a laptop and now I've decided I don't want to go, I'd rather build a business and not spend time studying and being in class.

Anyway, I'm in trouble but I don't want to do BK again. I'm most concerned about Citibank..has the general consensus been that you can negotiate with them? I hate to do that but this is where I am. I am living with my folks to save money and have no car or mortagage or children.

Any advice is appreciated and don't worry if you give diff advice from another poster..I appreciate all of it!
Message 1 of 6
5 REPLIES
Moderator Emeritus

Re: New to the board. Read lots of threads already, how do you negotiate with your creditors?

Citi is great to work with. I recommend contact them via PFB.
Message 2 of 6
Established Contributor

Re: New to the board. Read lots of threads already, how do you negotiate with your creditors?



Tuscani wrote:
Citi is great to work with. I recommend contact them via PFB.


I agree with Tuscani. For me, they are the easiest to work with.  I get the feeling I am not a number but a person when I call them.
 
Good luck
Message 3 of 6
New Visitor

Re: New to the board. Read lots of threads already, how do you negotiate with your creditors?

Hi!

Thanks for the prompt response. I looked up PFB in the abbreviations list but I don't understand what it means.

Can you ellaborate?

Thanks!
Message 4 of 6
Moderator Emeritus

Re: New to the board. Read lots of threads already, how do you negotiate with your creditors?

Message 5 of 6
Highlighted
Moderator Emeritus

Re: New to the board. Read lots of threads already, how do you negotiate with your creditors?

Sounds like you need to contact them ASAP. It is alot easier dealing with them now than after the damage is done.
Message 6 of 6