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Has anyone settled on a Home Depot C.C. account?

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I am trying to settle on a Home Depot Credit Card account. The first offer I had was 50% of a 15k balance. Is that decent or should I hold out for less? Thanks




Home Depot is under the CitiGroup umbrella who tends to be more an aggressive creditor. Settlements between 40-50% are typical with them. I'd maybe try to shoot a little lower, and if they budge that's pretty decent.

Sub: #1 posted on Wed, 01/21/2009 - 22:29

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wow..my Home Depot account (Citi) went to a local law firm who sued me. Only offered about 80% on a balance of $8000. Didn't have that so now I'm paying off balance in full over 24 months since they got a default judgement against me. At least it's 0% interest. If I had the 50% I'd settle it...

Sub: #2 posted on Thu, 01/22/2009 - 01:04

arb arb

(Posts: 147 | Credits: 27.89)

How many payments were you delinquent?

Sub: #3 posted on Thu, 01/22/2009 - 02:05

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I settled with Citi/HD for 57% at 78 days. I might have done better by waiting, but balance was only 1,600 and wanted to get my first card out of the way. I settled with Chase right after Citi for 45% ($35k at 69 days and $9500 at 37 days.

Sub: #4 posted on Sun, 11/15/2009 - 13:41

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keep in mind you can still negotate a settlement after judgement if that happens, but citi plays hard ball usually when they are done negotiating they are done and they sue you. they are horrible i tell everyone never to have a citicard. but i would try to see if they can do a little better counter them with maybe 40% see what happens.

Sub: #5 posted on Mon, 11/16/2009 - 06:48

love_my_things love_my_things

(Posts: 1434 | Credits: 128.32)

We just got a notice to appear in court on our Citi-Home Depot card? Should we try to settle? Do we still have a chance? Anyone know what to expect?

Sub: #6 posted on Wed, 03/03/2010 - 06:47

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Home Depot Citibank Settled with me at 30%. My Balance was 12,164 and they sent me an offer letter for 3,649. Paid it off.

Sub: #7 posted on Wed, 03/03/2010 - 07:47

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My Home Depot account went to Kramer & Frank PC. Has anyone deal with them before and the statute of limitations for my state is 3 yrs and this account has not had a payment on it since late 2006. Can they still come after me for this due to the statute of limitations? Help me

Sub: #8 posted on Thu, 04/08/2010 - 01:13

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My friend settled with Home Depot at 50%.

Sub: #9 posted on Thu, 04/08/2010 - 06:28

dantheman dantheman
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(Posts: 860 | Credits: 216.14)

how do you start the process of asking home depot to settle the debt. i owe $17K and am now unemployed .. where do I start? Do I write a letter

Sub: #10 posted on Mon, 10/18/2010 - 05:43

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