A notice just out to credit counseling groups was sent in by a great tipster. Apparently Citibank, an initial supporter of the NFCC and Consumer Credit Counseling Service program called Call to Action, is terminating their participation.
An email sent out to AICCCA members says:
Due to resource limitations and required compliance with policy, February 11, 2011 will be the final day that Citibank will accept CTA proposals for ANY of their billers, including those for CitiCards (Macys) and Citi – CTA Billers. Please see below for more information.
If I have clients already on a CTA program, will they be taken off?
No. Accounts that have already been accepted into the DMP program will remain on the program at the CTA terms until they either pay off the debt or terminate from the program.
What happens if a proposal has already been submitted?
Any CTA proposal that is pending decision on or before February 11th will be decisioned based on the information included in the proposal.
New proposals received after this date will no longer be eligible for CTA terms.
If I have a client who is transferring agencies, will their CTA program also transfer over?
Yes. Please follow correct [...]
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