Chase Still Settling?

BE AWARE OF CHASE BANK.

I had gotten two different letters from them, probably at around 4 and 5 months, offering around 50%, but wasn't able to act on it because I was settling another account at the time. The account went to a particularly nasty collection agency, who didn't get anywhere with me. It eventually went back to Chase, and they settled at 20% after about 10 months. This was on an account of approx. $10,000.

Anyone negotiating currently? Some cards seem desperate to get money before the year is over. I won't be settling until February. How many months does Chase give you to pay the settlement off?

I am with a settlement company, and I had enough in my account at the time to settle it in one lump sum. But there doesn't seem to be any rhyme or reason, any set rules, about what they offer people. It's a total crapshoot. Usually they want settlements in one or two payments; but I have read on here from time to time that people have gotten longer periods to pay. What it depends on, is anybody's guess.

I am wondering if it depends on who the collector is and what mood they are in? I don't know. If I knew the secret...I would share with you!

Molly