Chase 5 yr pay off plan

Date: Mon, 06/29/2009 - 09:18

Submitted by anonymous
on Mon, 06/29/2009 - 09:18

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Total Replies: 4

Chase gave me a five year pay off plan on three seperate cards tottalling 15k. Is it possible to now settle the amount owed? I am having a hard time making the payments. They told me when I signed on for the plan I would not qualify for any other settlement options if I defaulted. Is this true?

Look closely at your contract, see if there is a statement to th

Look closely at your contract, see if there is a statement to that effect listed on it somewhere.

lrhall41

Submitted by Shazzers on Mon, 06/29/2009 - 10:06

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I have no idea. Did they send you conditions of their plan? I w

I have no idea. Did they send you conditions of their plan? I would think that if you're not paying and default, you could still likely get an offer for settlement. Are you in a position for BK?

What type of plan did you get from them? They are asking my DH and I to submit a budget. Did you get 0% over 5 years?

lrhall41

Submitted by on Mon, 06/29/2009 - 11:20

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It sounds to me as if you are in their hardship program. If so,

It sounds to me as if you are in their hardship program. If so, then they are correct - even one late payment and they will default you right away.

How much debt do you have? Are you insolvent (are your assets lower than your liabilities)?

lrhall41

Submitted by Chrys Henderson on Tue, 06/30/2009 - 03:06

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Previous post 5 yr plan

I am insolvent. It is the hardship plan because my wife lost her job. It is not 0%, it varies on the three differant cards from 2-7%. We have 25k total debt. My wife is still un empolyed but I have a job so I could make small payments.

lrhall41

Submitted by on Wed, 07/01/2009 - 06:47

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