Hi, Citibank has sent me a letter regarding my outstanding balance. They have offered me 2 options I am interested in: Option 1. Reducing my balance after bringing my account current. Option 2. Settle my account for less than the total balance. I realize that if I settle for less this will affect my credit score. Can I negotiate the wording as to what will be on my credit report? Also, if I do negotiate the amount, is 50% reasonable? Is one option better than the other as far as credit scores? Some background: My credit score is horrible, the balance is 6k, and I'm getting a tax refund that would allow me to pay 3k. any advice would be appreciated!
