ok, I am only 23 years old and attending college for my BA.
I made my first Credit card with Chase bank and I was ALWAYS on time and I was able to pay EVERYTHING whenever I used it.
So, last six months ago, very unfortunate happen in my life... my beloved girlfriend was in a car accident and passed away... and following 3 months later, my cousin died of a car accident as well... and soon after, I got laid off at my job and I needed to take some time off from school to organize my life back on track.
So, I did but I couldn't get hired due to medical illness suffer... so I couldn't pay my credit card. I did best I could to pay little but it wasn't enough with 32% APR...
Slowly, I was only thinking negatives and suicidal. Then it hit me, I am still young and this will only make me stronger. So I wanted to get my life back!
I was living places to places and I had few money saved up for emergencies...
And I completely forgot about my Credit Card debt of $15,000
Today, I picked up my phone and called Chase bank. They told me that my account is now with AllianceInterstate... I've told them my situations and I am unemployed due to medical reason that I am willing to settle for 20% (which is like $3000) They counter offered me for 50% but no way i'll able to pay that.
In the end, offered 20% and I have setup to pay my balance within a month!
I am wondering, what will happen to me? this is my first time settling any debt and I am complete new to all this. I am thankful that I can get my life back together.
What's my next step? I've asked for a validation, but they said they won't send it after I have paid my $3000. It's weird, because they said I can pay it through local Chase bank or via online as well. I just don't want them to bother me after I've paid my $3000. or in worse case it's a scam? $3000 is all I've got and I am willing to pay but I don't want to get scammed... so is it right for them to say... they are going to send me to documents AFTER i've made my payments??? also out of curiosity, I've called again to confirm that it was settled for 20% and they said it's been approved and notated.
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