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#1
06-29-2009, 01:51 PM
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Stopping Chase Payments
I have 30k on 2 chase cards. On both of the cards I have never had a late payment or gone over limit.One of them I juse wrote myself an 8000 check on that they had sent me in the mail at 3.9% . I needed to catch up on other bills.
How should I go about setteling these? Should I at least make one payment on the card I took the 8k on? I can make one but after that there is no more money. 
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#2
07-04-2009, 06:37 AM
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It you are current with your credit card accounts, the creditors will not be willing to settle your debt for less. So before you negotiate for debt settlement, you should stop making payments towards your cards. This is the reason why the credit score falls if you go for debt settlement. Can you tell me how much is your present credit score?
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#3
07-04-2009, 12:59 PM
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I was just able to get a settlement of approx. 40% of original balance with Chase. I owed them $7600, was 146 days past due and bal. had climbed to $8500. I had also done a balance transfer for $4800. in November. I had made one payment since then. While trying to negotiate a settlement, they did question me about the bal. transfer. I simply told the lady the truth, that they had offered me a special rate and I had no clue that Jan. would bring pay cuts and unemployment. They were really pretty easy to work with. Best of luck to you!
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