Offer Made To Settle Debt
NCO offered by phone a settlement that amounted to $1,323 (my original debt was $8,000). This offer was made Wednesday, May 19. I lost my job three years ago, and have not been able to make any more payments to original creditor, CitiBank, after that. I live in the state of Alabama.
I told the rep I didn't have that kind of money, that I'm on unemployment -- again. He asked if I could come up with $500 to lock in this offer, and I could make payments on the balance over a 12-month period. He told me to think about it and call him back before the 26th of May, because the offer would be taken off the table, and this offer would never again be made.
I don't know if this is a blessing, or if am going to put even more pressure on myself by taking on another payment at this time in my life.
Any advice you could give would be appreciated.