topic Re: Citibank Won't Let Me Settle in Rebuilding Your Credit

Citibank Won't Let Me Settle

NintendoFan — Wed, 09 May 2018 22:15:00 GMT

I have two old (5 years) account with Citibank. One is a Bloomingdale's card for $1100 and the other is a Macy's card for around $520. I called today to try to settle both accounts but the agent I spoke with stated that for legal reasons they cannot accept payment over the phone and if I wanted to pay it, I would have to pay in full by mail to have it removed from my credit report. She stated that the reason was Citibank believed the debts to be past the statute of limitations (however it's 6 years in my state, not 5) and that they were no longer collecting on the debts. I asked if these accounts could be or would be sold to a collection agency. She stated that she was absolutely certain they wouldn't be because of policies they have in place that don't allow them to touch accounts that old. She said any payments I mailed in, however, would reset the statue of limitations. I asked to speak to a manager or supervisor and she said that they'd all gone home for the day. No idea what to make of this. I was ready to pay to settle in full today. Is this normal? Thanks for any advice

Re: Citibank Won't Let Me Settle

Anonymous — Wed, 09 May 2018 22:22:03 GMT

Umm, what a tricky situation.

If you don't send payment, they will stay on your reports affecting your scores.

If you do send the payment, it will reset the limitation, BUT, they would have to work with you to delete them or mark them as paid.

Talk to a Manager tomorrow and see what they say, they know more about this than fron CSRs. If you don't mind paying those off, I would send the money and get them paid off. Then you might have to work on a PFD as well OR a leat as "closed/paid".

Good luck!

Re: Citibank Won't Let Me Settle

NintendoFan — Wed, 09 May 2018 22:24:05 GMT

I know. It's the strangest thing ever. I do plan on calling back tomorrow, though. I guess I could save up a bit more and get them PIF.

Re: Citibank Won't Let Me Settle

RobertEG — Thu, 10 May 2018 05:26:26 GMT

If the payment is accepted as full discharge of the debt, then there is no longer any debt upon which they could bring any legal action.

Stated differently, there can be no reset of the SOL on a paid debt, as there is no longer a debt, and thus no longer any issue of civil aciton.

Re: Citibank Won't Let Me Settle

NintendoFan — Thu, 10 May 2018 05:37:08 GMT

Thanks. I'm just not quite sure why they'd say the statute of limitations has passed even though it hasn't in my state. I'd have thought they'd go by my state's SOL, which is still a year away.

Re: Citibank Won't Let Me Settle

NintendoFan — Thu, 10 May 2018 13:41:28 GMT

Update: So I called and spoke with a supervisor this morning. She stated that I could't even mail payment in full for the Bloomingdales account because they already issued a 1099c. So I have no option to pay it. I could still pay the Macy's in full if I mail it in though, because the balance is under $600 and no 1099c was issued. However, she stated Citi believed both accounts to be past the SOL. I checked my experian credit report, and the balance for the one the 1099c was issued shows $0 with the highest balance being $1102. Balance was updated a month ago. The one I can make voluntary payments on is showing a balance of $522 on experian updated around a month ago as well. The supervisor told me that these debts wouldn't be sold off to a collection agency.

Re: Citibank Won't Let Me Settle

Anonymous — Thu, 10 May 2018 13:48:52 GMT

Nice! so you only have to worry about one debt.

Re: Citibank Won't Let Me Settle

NintendoFan — Thu, 10 May 2018 13:52:10 GMT

Haha, yep Totally unexpected.