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  #1  
10th April 2016, 09:51 AM
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Citibank DMP

Hello sir, I am Mike Rafael. I am from London. I want you to help me by giving me some information about the Citibank Debt Management Plan (DMP). Can you give me some details about it?
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  #2  
10th April 2016, 09:52 AM
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Join Date: May 2012
Re: Citibank DMP

As you have asked about the Citibank Debt Management Plan (DMP), I am giving you some information about it, check below for the details
Citibank is providing its customers debt management plans (DMP), to improve their financial situation.
The resources are being made available to qualified individuals in order to help them deal with their credit card debt in this difficult economy.

Some of the details of the programs currently available for eligible customers include debt management plans, (DMP), work outs, temporary forbearance, settlements, interest rate reductions as well as payment incentives.
Some of the other solutions may be the bank waiving certain fees and administering balance-consolidation programs.
The intent of these various programs is to accelerate the reduction of unpaid bills and credit card loans.

Details on the Citi debt management plans:

They have partnered with other credit card issuers and the NFCC, in a program called “Call to Action”. Together these companies are offer solutions to families.

Standard DMP -
This plan will give consumers a monthly minimum repayment rate of 2 percent of their balance.
Most debt management plans have a rate of 3% or so.

Hardship debt management plan -

For those consumers who are dealing with a recent financial emergency, illness, job loss or some type of other especially challenging circumstance, this may be an option. It would have a repayment rate of 1.75%.


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