Hi Everyone, I am trying to settle a Chase account. It is only about 50 days past due now. This is my last cc account, so I am ready to get this settled!
The balance is now around $24,800. I have offered to settle for 35% of the balance last week. It was turned down. They said they declined it because I had too many balance transfers just before the card became late in payments.
I told them I will wait it out until they accept my offer.

Anyway, does anyone out there have a recent Chase settlement. If so, what was the balance and what did you settle for?

Enter Your Samebox Message:

We seetled 31K for 30% 2 weeks ago.
We were 5 months past due. They easy to work with. You just need to wait longer.

Enter Your Samebox Message:

Chase is one of the best banks to settle with before your account reaches charge off. settle for about 60% off at 5 months delinquency in most cases.

Enter Your Samebox Message:

I just settled with CHASE today. I had missed 4 payments to date. My current balance was almost $28K....originally $24K. I settled at 40% which was $10,900.

I definitely recommend to everyone......try it on your own first. Just be patient and have thick skin. Get past the first few months of harrassing and mean phone calls and they actually get less frequent and the account managers become nicer.

Now I got to save up a little more and work on two more creditors.

Good luck to you all.

Enter Your Samebox Message:

I have 30k on 2 chase cards. one of them I juse wrote myself an 8000 check on they had sent me in the mail. I needed to catch up on other bills. How should I go about setteling these? Shiuld I atleast make one payment on the card I took the 8k on?

Enter Your Samebox Message:

Did you have to make your payment to Chase in full? I have 2 cards - 18k with them. There is no way that I could even pay 30-35% in one payment...maybe spread over 4 months... Help!

Enter Your Samebox Message:

chase have send me pre legal department anyone has any idea about it

Enter Your Samebox Message:

I paid in full. I sold a vehicle awhile back and have been saving up for settlements.

Don't worry about Chase Pre-legal stuff...they are just trying to scare you. That is where my account was when I settled...they tried to scare me and say that I was 4 days away from going to the attorneys. From what I remember they told me that you stay in pre-litigation dept for 45 days I think.

Enter Your Samebox Message:

I paid in full. I sold a vehicle awhile back and have been saving up for settlements.

Don't worry about Chase Pre-legal stuff...they are just trying to scare you. That is where my account was when I settled...they tried to scare me and say that I was 4 days away from going to the attorneys. From what I remember they told me that you stay in pre-litigation dept for 45 days I think.

Enter Your Samebox Message:

what percentage were you settled for chase

Enter Your Samebox Message:

I settled at 40% of current balance. 44% if you go by my balance at the time that I stopped paying.

Enter Your Samebox Message:

I have one chase business card with balance of 10. They offered 60% at 130 days late. I counteroffer at 35%. They declined and said never below than 60%. Any idea? I don't even know I am personally responsible for the account, since it is LLC business card. I plan to offer 40%. Is this a good idea?

Enter Your Samebox Message:

Chase has offered me a five year pay off plan on three seperate cards iahve with them. Them gave me a low fixed rate and low payments. I am still having difficulty making the payments. If I stop paying will they still settle my debt? They told me if Idefaulted I would not be elgible for any other help.

Thanks,

Bob

Enter Your Samebox Message:

do not accept hardship plan . you settle it later .

Enter Your Samebox Message:

Don't listen to anything they say. It is their job to scare you into paying. Just look at this forum and you will see that they are lying that they don't go below 60%. Stick to your guns.

Enter Your Samebox Message:

I just made a settlement agreement with Chase today for 40% of the original balance. I had been ignoring their phone calls until I knew I had a little bit of money to work with. I picked up on Monday and was offered half off as soon as I mentioned bk. I told her I didn't have that and she put me on hold and came back with offer of $3865 over 4 months. I told her I would have to see what I could do and let her know because I only had $2200. I called back this morning after borrowing $500 from a relative and told them I was able to offer $2700, they declined. I waited a couple of hours and called again offering a lump sum of $3000, I told her I was still not sure that I wouldn't be better to go with bk. I also told her that if I didn't file bk, then I needed to get one of my creditors to accept what I had now. She placed me on hold and then came back and said she didn't know if they could do it because I had done a balance transfer in Nov. for $4800.00. I told her that I was aware of that and at the time had no clue that January would bring pay cuts & layoffs at my husbands company since they had NEVER had this happen in the past. I didn't get rude with her or deny the transfer, just left it at the facts. She placed me on hold again for quite some time and finally came back stating that they would get the paperwork for my settlement in the mail and that I needed to pay by 7/12.

Just don't let them know if you have the settlement money. Then they just want you to catch up the account. Let them think that you at least have to wait for a friend or relative to get the money to you.

BTW, my original balance was around $7600 and my account was 146 days past due.

Enter Your Samebox Message: