Before you attempt to resolve this debt, you will first need to determine who currently owns this credit card account. If you have been receiving calls or letters from a third party collection agency, you can contact the collector directly to discuss resolution of the debt. However, if you are having trouble locating the account, you may need to contact the original creditor for assistance in determining who is currently handling your account. Associates National Bank's credit card portfolio was purchased by CitiBank several years ago, so it is likely that the account in question is now owned by CitiBank. CitiBank's customer service telephone number is 1-800-950-5114. If you contact CitiBank, they should be able to tell you whether or not they own your account, and if so, with whom you need to communicate in your effort to resolve the debt, such as the collection agency to which they have referred or sold the account.
Another resource you can use to locate this account is a copy of your credit report from each of the three major U.S. credit reporting agencies. Carefully reviewing your credit reports should help you determine the current owner of your account, and provide you with the creditor's contact information. You can obtain a free copy of your credit report once every twelve months from each of the three major credit bureaus- Equifax, Experian, and TransUnion by visiting www.annualcreditreport.com. You can either request a report from one bureau every few months as a way to monitor your credit profile, or you can request all three at once to compare the credit information appearing in each bureau's file.
Once you know who is handling your account, you will want to negotiate a resolution with either the current account owner directly or with the collector representing the creditor. If you have adequate funding to offer the creditor a large portion of the debt, such as 30% to 40% of the balance, you may be able to negotiate a reduced balance settlement with the creditor. If you do not have a lump sum to offer, you should be able to work out a repayment plan with the creditor. The amount of the settlement or monthly payments will depend on the size of the debt, your financial circumstances, and how "collectable" the creditor believes the debt to be. For example, debtors living in Texas are frequently able to obtain better settlements than consumers in other states, as Texas law makes collection of delinquent debts difficult. Whether you are able to negotiate a settlement or a repayment plan, make sure that you obtain the terms of the agreement in writing before making any payments.
I wish you the best of luck in your efforts to resolve this outstanding debt. To learn more about the different options available to consumers struggling to manage credit card debt, I encourage you to visit the Bills.com Debt Help page. In addition, there are great debt pointers for tips on how to avoid the debt trap in the future. I hope the information I have provided helps you resolve your financial difficulties and helps you Find. Learn. Save.