citibank settlement through collection agency

Citibank generally does not sell their accounts.

Settlements are contingent on the payments being made on time ...so I would say yes.

Citibank charged off my account earlier this year. I'm assuming it was sold to Allen L. Adkins because I just received a letter from them advising they now have the account. I'm going to send them a verification of debt letter regarding this.

Greetings SOK,

Generally speaking, unless you can super negotiate with 'em, bust a settlement payment and the whole deal is null and void.

They'll just credit your payments to your ever increasing balance.

Sorry,
King "Kash" Jabba Labba

This kind of situation is exactly why I don't advice breaking up settlements into payments. These kinds of arrangements can backfire on you.

Citi almost never sells their accounts. They charge them off and send them to their internal recovery department.

If you've defaulted on the existing settlement they will void it. What I recommend at that juncture is save enough money to be able to do a lump sum settlement on the remaining balance. Chances are they're not going to be willing to go below 70% of the balance on a new settlement because of the default on the first one.

Signature removed. Please read TERMS OF SERVICE for a more detailed description regarding advertising. Shazzers