Chase Assist Program
Date: Tue, 08/25/2009 - 17:33
I had been intending to use a work bonus to catch the accounts up but we got so far behind the amount owed was more than the bonus.
So I called Chase to see what my options. I am enrolled into their Assist Program, which is a 12 month program. My interest rate is reduced from 29% and 19% to 8%. My monthly payments are set at $160 and $80 and accounts are both closed. At the end of the 12 months the payment is recalculated into a minimum monthly payment until account is paid off.
Am I missing something or was this 1) very easy to negotiate and 2) some hidden item I can't see where they are going to kill me with amounts owed?
I personally don't have any experience with Chase's Assist progr
I personally don't have any experience with Chase's Assist program but it sounds like any other hardship programs of banks. It's a good way to clear off your debts but if you get behind on your payments during the program they may discontinue the assistance immediately and your rates may too shoot upwards.
Also, the accounts would stand closed by lenders on your report which would add another negative mark on it.
I like the assist program, now how do i settle credit cards
I personally liked the assist program because it asks you upfront how much you can make and in my case, from 13% interest to 0% interest for 12 months. this could be extended after the 12 months into 5 years if you choose...but they will then ask you....how much payment can you make. If it is lower than the minimum balance then they will extend the program for you if not they will drop you until the conditions are met. I was able to make overpayments to my 2 credit cards...and now I wonder how to "settle" this account already. any suggestions?
