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 Posted: Tue Mar 04, 2008 12:43 pm Subject: amex and chase bank debt |
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I had a business previously that has a line of credit with chase bank and one with amex because of circumstances i can no longer afford to pay the monthly amount they request the business is no longer in business although they used me to guarantee the loans . is there any way out of this mess I am trying to sell some things I have but don't now if these people will take less than i owe any help please I owe amex around 20,000 and chase about 15,000
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mj_magee
Joined: 04 Mar 2008
Posts: 1
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| Posted: Wed Mar 05, 2008 12:03 am Subject: |
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Sounds like you should consider bankruptcy.
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Morningstar
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dbcoders
Joined: 14 Nov 2007
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| Posted: Sat Mar 08, 2008 8:05 am Subject: |
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Have they been charged off yet?
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ms help
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| Posted: Sat Mar 08, 2008 8:12 am Subject: |
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Try and send a settlement letter stating a amount you can afford to pay the account in full, Then ask if they accept your settlement offer, then they will remove from your CR upon a payment being received. Get all information in writing and send it certified mail return receipt. I believe in the credit repair forum, there is a pay for delete sample letter you can use an an example. I don't think you should have to file bankruptcy if you can come up with a settlement amount to both.
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