Citibank is undoubtedly one of the biggest credit card companies around. They have a worldwide presence and their credit card division, Citi Cards, issues millions of dollars worth of credit each year to individuals and corporations.
They also have been known to settle credit card accounts for as little as 15% of what was owed. In this sample letter below, CitiCards offered a settlement for approximately 17% of the balance on the account. The card holder was forgiven an amazing amount of approximately $15,000 (fifteen thousand dollars!) in credit card debt.
Settlements like these are not uncommon and can be achieved through the help of expert negotiators who work for companies like these top-rated debt settlement companies or you can attempt to negotiate settlements yourself with the help of do it yourself tools like Zipdebt.