BestBuy Card Settlement? or...

[Anonymous]

Wanted some advice on this. (my partner's credit)

Have BestBuy card with Citi Bank, witch is around $3700, and missed few payments. At the moment i called and closed the account.

They sent me a settlement letter at home if i want to settle for $900.

I have look and i am not at collection yet, but i guess i am within the bestbuy/citi their collection dept.

It say on the letter that if paid the settle , they will report it as " zero balance, but paid less than the total amount own."

Wanted to purchase a home in few months and score is kind under 600. 

Thanks for any advice.

[simplegirl]

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@Anonymous wrote:

Wanted some advice on this. (my partner's credit)

Have BestBuy card with Citi Bank, witch is around $3700, and missed few payments. At the moment i called and closed the account.

They sent me a settlement letter at home if i want to settle for $900.

I have look and i am not at collection yet, but i guess i am within the bestbuy/citi their collection dept.

It say on the letter that if paid the settle , they will report it as " zero balance, but paid less than the total amount own."

Wanted to purchase a home in few months and score is kind under 600. 

Thanks for any advice.

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You might want to post this in the rebuilding forum.

[nax]

I had one as well, I did a settle for 50% with Portfolio and sent in a GW to Citi. Surprisingly City removed the CO account and just recently I called Portfolio and they deleted the collection also.

[Anonymous]

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@simplegirl wrote:

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@Anonymous wrote:

Wanted some advice on this. (my partner's credit)

Have BestBuy card with Citi Bank, witch is around $3700, and missed few payments. At the moment i called and closed the account.

They sent me a settlement letter at home if i want to settle for $900.

I have look and i am not at collection yet, but i guess i am within the bestbuy/citi their collection dept.

It say on the letter that if paid the settle , they will report it as " zero balance, but paid less than the total amount own."

Wanted to purchase a home in few months and score is kind under 600. 

Thanks for any advice.

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You might want to post this in the rebuilding forum.

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Yes, i hope a Mod sees this and will move it. Thanks!