Anyone settle with Chase Recently?

Settlement with Chase is very easy, be patient and wait them out until about the 5th month of delinquency, we have seen savings of up to 70% with them. Good luck.

We settled Chase for 30%. of 31K. The account was 5 month old. I told them 30% and they said OK right away. Then I asked them to fax me conf letter, the guys said no, - we don't do that. OK, I called the next day, talk to a different person and got my latter 30 minutes leter.

Good luck man!

I don't know mych about settling with credit card companies. If we settle on our Chase card how will it effect our credit? Will it effect it at all? How will it effect our eligibility for a credit card in the future?

I just settled two cards with chase @ 30%. Lower % than I expected and was also fairly easy to deal w/ them.

For those of you who have seen settlement with CHASE, did they require the 10-40 form? I'm not paying taxes on the other 70%.

Has anyone who has settled with CHASE had to pay taxes on the forgiven debt amount? (the other 70%) I've read where credit card companies slip in the 10-9 form I think it is.

You will receive a Form 1099 for the forgiven part. They don't "slip it in". Research here and elsewhere what portion (if any) of that will be taxable to you.

settled today with chase. 13.5 K balance, settled for 32%. you will owe taxes on the forgiven part of the debt, if that is a dealbreaker then maybe settlement is not for you. BTW, you are NOT liable for the forgiven portion if you are insolvent at the time of settlement. that is the case for most people. I have settled 2 accts, 2 more to go...insolvent so far but will be taxed on any future settlements, but I figured that in to the plan from the start. My settlements have been on my own and fairly easy.

my 1st card (i have 9 total, 4 of them chase) is only 2 weeks late and chase began calling me 4 times a day for the last 3 days..is this normal?.. when should i talk to them?..or should i write letters first?....they keep calling but wont leave a message.

I am about 4 months late and I have been talking to them about once every 3-4 weeks. After you talk to them and tell them your situation, they will tell you the phone calls will continue. The credit card debt in unsecured, the only thing they can do is call and bug the piss out of you and hope to break you down. Unplug your phone or turn the volume down, because they will call 7 days a week.

I have Chase and Citi that we are anywhere from 30 to almost 60 days late. They call every other day or so. We just talk to them. I assume when you say they sall 3 or 4 times a day you are not answering the phone?
We tell them we can't pay because of reduced income (true). They want us to make payments and put us in a program etc, but we just say we can't because we have other obligations (housing, food) and we don't have any extra money. So far they have been very pleasant. I'm waiting a another month or so and hoping we can start talking settlement.

I talked to Chase today and it is only month 2 (this monday will be month 2 actually). When i was asking what my options were she casually mentioned settlement, so i asked her for some numbers. She offered me 60% right on the spot. Seems pretty low so early in the game.
Thoughts on whether I should wait until month 5 to offer 30%, or perhaps even less?

60% is high. I settled with Chase at 35%. I would definately try to negotiate it lower but that probably waiting until 120 days or more late.

60% is typical for 2 months late. At 4-5 months they will deal.

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any have luck with a specific supervisor for good settlements with Chase lately?;)

I settled with Chase last week at 35% at about 110 days late. My balance was around 13K and out of that, $10K was a balance transfer from last fall. The other $3K were purchases but there was almost nothing in the way of interest charges or fees on the acct, so I considered 35% to be a good deal and took it.

Some here have gotten lower settlements, 30% or so, but if you have a balance transfer it is tougher.

does any one have a specific phone number to a supervisor?:???: