During the financial crisis of 2008-2009, the U.S. Government bailed out Citibank as it suffered gigantic losses in the values of its subprime mortgage assets. If you find yourself deep in debt with Citibank, then who will bail you out? What if you can’t pay your credit card bill? You do have options to lower your credit card debt with Citibank, such as a Citibank hardship program or a debt settlement. First I will review the Citibank credit card hardship program and then I will outline how to settle credit card debt with Citibank.
How to Settle Credit Card Debt with Citibank
Citibank Credit Card Hardship Program
If you find that you cannot pay your Citibank credit card minimum payments, then you can try to apply for a hardship program. Citibank offers this program to those who cannot pay their mortgage, however enrolling in a hardship program for credit card debt could prove more difficult. You will need to arm yourself with a lot of patience when contacting Citibank, as you will be transferred many times and some people you talk to might not know about the program. If you follow the steps on Needhelppayingbills.com for the Citibank hardship program, then you might find success to lower credit card debt with Citibank. Keep in mind, if you miss just one monthly payment, then your hardship program will be canceled. So this may not be your best option for settling your Citibank credit card debt to a lower amount.
How to Settle Citibank Credit Card Debt
If you would like to get rid of your Citibank credit card debt fast and for good, then a debt settlement is a better option. In a debt settlement, you (or your debt relief attorney) negotiate credit card debt with Citibank to reduce the total amount of debt that you owe. An agreement is reached for you to either pay back a reduced amount in a lump sum or over a short-term payment plan. Credit card companies, such as Citibank, would rather you pay a reduced amount then declare bankruptcy and pay them nothing.
If you do decide on debt settlement for your Citibank credit card debt, you need to make sure you have the facts before you dive in. Be sure to steer clear of debt relief companies, as they are often caught up in debt relief scams. A debt relief law firm, on the other hand, is held to a legal standard of ethics that a debt relief company is not. On my website I offer a FAQ page with all you need to know about debt settlement. If you still have questions, please contact me for a free debt consultation at 858-217-5051. Visit my success stories page for credit card debt settlement success stories to learn about people I have helped get out of credit card debt just like you.
Daniel R. Gamez, an attorney focusing exclusively in debt relief, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in San Diego, CA. For more information, please contact Daniel Gamez at 858-217-5051, firstname.lastname@example.org or use our online contact form. Stay updated with the latest debt relief tips by following on Facebook and Twitter!