Anyone have experiance with Chase?
Date: Wed, 01/13/2010 - 09:47
Most cards need to be 120 days or more for settlements to start
Most cards need to be 120 days or more for settlements to start coming. Type "chase" in search button at top of page. Many people say they are easy to settle with and mention 30% range.
Very easy to work with
I had a balance of almost $5000 with Chase and I settled it for $1300. My account was over 150 days late
I have 2 Chase accounts and was served a summons after 170 days,
I have 2 Chase accounts and was served a summons after 170 days, they put both accounts on the same Complaint. My wife just received a summons from Chase after 170 days. We live in Fla. and Chase has a legal dept in West Palm Beach, so that might be why they are so quick to sue. It looks to me like they send these Complaints in bulk all thru the state, hoping for quick settlements or default judgments. I figured if I put up some kind of fight, they might go somewhere else. I think they are trying to settle without going to court, because they call everyday. I don't answer the phone.
I am at 160 days late and have been offered 30%, I told them I c
I am at 160 days late and have been offered 30%, I told them I can do $1000, which is about 21%, they said ok that is probably do able but they need all my finance info (monthly income and debts,etc...) I said nope none of your business if I had the money I would be current, I have less money coming in then going out and my house foreclosed, etc..., they said they will give me a couple of days to gather info and call me Monday, I said fine whatever.
But if you read a lot of threads on here giving them my info is not necessary and don't give it to them, so I won't, Monday when they call I will stick to $1000 and from what I have seen on here they will settle before charge off at 20%-25% so I am sticking to my proposal!
Good Luck!
I have one card at 110 days. Today they offered 50% but told me
I have one card at 110 days. Today they offered 50% but told me it will be a better offer at 120 days. just wait.
Anyone have experience with Chase
I have been reading many posts on this forum about cc settlement (great info). Does anyone know or have experience in dealing with Chase as their only creditor? I read somewhere on here (or Net) were folks thought it might be tough to workout a settlement if you only have cc debt with one creditor (even with large debt). Any thoughts?
They do tend to look at your Credit Report to see if they believ
They do tend to look at your Credit Report to see if they believe you could pay it back. Obviously, with $200k in CC default it is a lot easier to negotiate...
I was 75 days late with Chase and I settled at 35% for 30k. The
I was 75 days late with Chase and I settled at 35% for 30k. They were very easy to deal with. They do call alot but if you can deal with it I am sure you can get 35% or less. Good Luck. Barclays on the other hand is very difficult.
Quote:Originally Posted by CITYBOYI was 75 days late with Chase
Quote:
Originally Posted by CITYBOY I was 75 days late with Chase and I settled at 35% for 30k. They were very easy to deal with. They do call alot but if you can deal with it I am sure you can get 35% or less. Good Luck. Barclays on the other hand is very difficult. |
Way to go! I am at 120 days and the only offer is 50%. But they did give me a number to their debt settlement department which I will call to see if they will go lower on $21k
Both our accounts with chase were only 1 missed payment each for
Both our accounts with chase were only 1 missed payment each for both balances of about 13000 each. I sent them email saying we couldn't pay due to recently changed financial situation and unexpected car and medical expenses. They called us about 10 days after payment was late and email received and, because we were happy to not have to pursue bankruptcy, we agreed to a 60 month no interest with about a 50% balance payback. Not knowing anything about this forum and advice, we were happy to settle. We did give them banking information, not knowing any better. Why is this bad? We have been thinking about changing banks for our checking account...
Sounds like a good deal while avoiding negative mark on credit r
Sounds like a good deal while avoiding negative mark on credit report. Giving them your banking information is not bad. If they were a collection agency it would not be the best thing to do. I would not worry.
I have talked to Chase once a week for the last 3 weeks, I am at
I have talked to Chase once a week for the last 3 weeks, I am at 150+ days late now and the best they are offering me is $1916 on $4800 cc debt which is 40%, I have told them over and over I cant do that much but I can do $1000 which is 20% but really 25.5% of the original balance of $3900 when I stopped making payments. I mentioned my house foreclosed and I don't have much money and if I cant debt settle my last option I'll be filing bankruptcy, but they just reply, ok sir if that's what you want to do then file bankruptcy, I have read multiple times on here that if you mention Bankruptcy and getting this far along 150+ days I would get counter offers or at least better than 40%, what am I doing wrong? Why aren't they budging at all and coming down? I have until 2/27 to settle, do I just need to wait longer? Also I have said, well if I file bankruptcy you get nothing why won't you take at least $1000 rather than nothing at all, and they said well we are as low as we can possibly go and we realize if you file bankruptcy, we win some and we lose some. I thought that was odd, will they charge off before taking $1000? Everybody has Chase is easy to deal with, but for me not really so far!
They are playing hardball with me also. Charges off 2/28 and on
They are playing hardball with me also. Charges off 2/28 and only offering 55%. Calling daily. I will talk to soon and offer 30% hoping for 35%.
If not, let it charge off. I know someone who got 16% 1 month after charge off.
From Total Debt Management If you have any other questions regar
From Total Debt Management
If you have any other questions regarding debt settlement feel free to contact us at [EMAIL="totaldebtmanagement@gmail.com"][COLOR=#0066cc][/COLOR][/EMAIL], or you can call me directly (Lenny) at
Ozzie and Whaat1881 keep us posted
I am very anxious to hear how this Chase thing plays out Ozzie and Whaat1881...PLEASE..keep us posted. AND good luck. I really hope you get great settlements. We too have a Chase card and just are starting this month in not paying our bills. We have never NOT paid a bill so this really goes against the grain for us. I am so nervous. But I am so done with these stupid banks that keep raisng our interest and min. payments. You can't get ahead to save your life. I am so glad for these forums. Anyways, pls keep us posted and I will anxiously keep checking.
would you please share the number for settlement,i need to call
would you please share the number for settlement,i need to call them.Thanks
Quote:Originally Posted by OZZIE69They are playing hardball with
Quote:
Originally Posted by OZZIE69 They are playing hardball with me also. Charges off 2/28 and only offering 55%. Calling daily. I will talk to soon and offer 30% hoping for 35%. If not, let it charge off. I know someone who got 16% 1 month after charge off. |
Hey ozzie, mine charges off the same time, they've made me no offers but I'm going to make some calls and will report back...We did settle one last year I think balance was 9200 and we did a lump of 2750..Not the greatest but it was with the law firm down the street at day 70...
BofA just settled with me for 25% (debt was $11,895), perfect, t
BofA just settled with me for 25% (debt was $11,895), perfect, they said I'll get a letter with the settlement info in 5-7 business days! Now I just have to get Chase to do the same thing, they are playing hardball I just got off the phone with them and the lowest I got them today is 30% but I still have 3 weeks before charge off so I will take it to the end to get 25% from Chase also. Anybody out there have problems with Chase? Are they going down to 25% or is 30% there lowest, period? Like I said I will drag it to the end to get 25%. Any Chase info with help.
Thanks!
Quote:Originally Posted by AnonymousI had a balance of almost $5
Quote:
Originally Posted by Anonymous I had a balance of almost $5000 with Chase and I settled it for $1300. My account was over 150 days late |
When did you settle with Chase? I have been trying to get 25% out of them for 3 weeks with no success, I owe $4700 I'm at 150+ days late and the lowest there going is 30%, I keep offering $1200 = 25% but they keep saying, no, I have 3 weeks though until charge off, did yours go right up to the end?
I settled my 2 chase accounts today...Probably shoulda held out
I settled my 2 chase accounts today...Probably shoulda held out until closer to charge off or maybe even after...Settlement was 32% on Bal of 18500. Shoot my buddy got 20k settled with Chase for 4 payments of 1k...Then shortly thereafter settled his other chase account which had charged off and assigned to creditors interchange for the same terms 4 pay of 1k bal was 19k+ (this was approx july/aug 2009.....So he paid 8k and they forgave 32K....
I'm paying 6k to forgive 12,500....I'd say he did way better than me...But I'm not complaining...:D
I'm current on all y accs yet but I will be doing voluntarily re
I'm current on all y accs yet but I will be doing voluntarily repo of my leased car, so since my credit is going to be f...ed up anyway ill stop doing payments on my cards in order to try to settle it. I still have $800 available on my Chase - should I just max it out?
Quote:Originally Posted by AnonymousI'm current on all y accs ye
Quote:
Originally Posted by Anonymous I'm current on all y accs yet but I will be doing voluntarily repo of my leased car, so since my credit is going to be f...ed up anyway ill stop doing payments on my cards in order to try to settle it. I still have $800 available on my Chase - should I just max it out? |
What do you have to lose? Might as well.
Talk about hardball, my last account to settle is with Chase and
Talk about hardball, my last account to settle is with Chase and I am having a heck of a time. Every couple weeks I pick up the phone and have a nice chat with a CSR. I repeat my sob story and we start negotiating. I'm shooting for 20-25%, but am not going to agree to more that 35%, so I just keep that in mind.
I am always pleasant, patient and business like. Lately the CSRs have been the same. Since I am now talking to native English speakers instead of CSRs with an accent, I believe my account is in a new department.
That said, as of yesterday, at 123 days, I cannot, for the life of me, get them to back down from 70%!
The debt is appox 11k but I just settled the same amount with FIA for 40% at about 100 days. (I probably could have gotten lower from FIA but for various reasons didn't want to wait any longer and needed them off my back. :?)
This last Chase CSR mentioned that 70% was all the account was "eligible" for...whatever that means. He wouldn't give any other information. A good chunk of the Chase debt is cash advances, so I am rather curious whether that is the reason I can't get them to come down at all.
I'll answer the phone again in about 2 weeks, verify the dates then talk to them at about 150 days and see what can be worked out. Sheesh, I had put Chase off until last because I thought they would be the quickest and least painful, but now it will just drag out for another month. :(
Quote:Originally Posted by maggie22I settled my 2 chase accounts
Quote:
Originally Posted by maggie22 I settled my 2 chase accounts today...Probably shoulda held out until closer to charge off or maybe even after...Settlement was 32% on Bal of 18500. D |
Wow....Congrats!! I think you negotiated a great settlement with Chase. I can only hope I can do as well. May I ask you how late were you before reaching this settlement? Also, how often did you talk with Chase? Any advise will be greatly appreciated. I have been reading this forum for well over a month.....it's extremely informative.
During Jan, Chase called constantly (many times each day). I recently talked with Chase and explained my hardship and the CS Rep said Chase will now call every five days for an update.
Quote:Originally Posted by danothemanoI have one card at 110 day
Quote:
Originally Posted by danothemano I have one card at 110 days. Today they offered 50% but told me it will be a better offer at 120 days. just wait. |
Now 120+ and they offered 60% I countered with 30% and they held firm at 35%....no deal just yet.
They now have gone back up to 50% in a lump sum. They understand my situation is dire, but could not get my 28% offfer approved because I drew a large cash advance one year ago. Balance owed is $20k. Any ideas?
Don't max it out!
Am currently trying to settle with Chase at 120 days and they do take into consideration the last time you used your card and how good a settlement they offer you so do not max out your card before attempting debt settlement. It will make it much harder to get a 25% settlement agreement.
Will Chase sue you?
My husband received a letter from Chase stating that he had 15 days to contact them before it would be going to legal and they listed their in house attorneys at the bottom of the letter. We live in Florida so it is a good state as far as protecting your home and wage garnishment cannot be done on head of household. Will they really sue or are they just threatening me? They have offered 50% settlement on $16K but we cannot do that. Offered them $5K over three months but they will not budge off of 50%. Will they really sue? A little scared.
I have this question too. I am in their pre-litigation departme
I have this question too. I am in their pre-litigation department and have 7 days left before it finally goes to their attorneys. What happens when it gets to their attorneys? Can I still settle with them once the attorneys have it? Or should I settle before the 7 days while still in the pre-litigation dept??
Please advise...
Just settled with Chase today for a 20% lump sum payment. Balanc
Just settled with Chase today for a 20% lump sum payment. Balance was just under $40K.
Can't wait til this is all over. Account was more than 200 days past due. Made a small payment last weekend to keep it from charging off while I was waiting for my money to come for the settlement.
Quote:Originally Posted by AnonymousJust settled with Chase toda
Quote:
Originally Posted by Anonymous Just settled with Chase today for a 20% lump sum payment. Balance was just under $40K. Can't wait til this is all over. Account was more than 200 days past due. Made a small payment last weekend to keep it from charging off while I was waiting for my money to come for the settlement. |
Hey that rocks!!! Mine was 160 days or so and settled 18500 for 6K...It seems the more you owe the better the deals...As I said my buddy settled both his chase accounts bal 40K for 8K or 20%...In any event that's great news, Congrats,,,,
Quote:Originally Posted by AnonymousI have this question too. I
Quote:
Originally Posted by Anonymous I have this question too. I am in their pre-litigation department and have 7 days left before it finally goes to their attorneys. What happens when it gets to their attorneys? Can I still settle with them once the attorneys have it? Or should I settle before the 7 days while still in the pre-litigation dept?? Please advise... |
I was in this exact situation so figured I'd chime in...Sept 2009 stopped paying, November 2009 got the same letter...I figured it was a bluff...Shortly thereafter got a call from their lawyers (day 70) located a few cities over...Bal was 9200+, I googled the law firm and they were nutz, had 26 pending federal lawsuits and a lot of crazy stories on the net about their crazy tactics...That was our first card we settled...They demanded 6500, we made 1 offer 2750 lump, take it or leave it...They balked but did present the offer, Chase accepted...Which means they would have taken less if offered direct because the lawyer takes a percentage, likely 20% off the top....
Quote:Originally Posted by AnonymousMy husband received a letter
Quote:
Originally Posted by Anonymous My husband received a letter from Chase stating that he had 15 days to contact them before it would be going to legal and they listed their in house attorneys at the bottom of the letter. We live in Florida so it is a good state as far as protecting your home and wage garnishment cannot be done on head of household. Will they really sue or are they just threatening me? They have offered 50% settlement on $16K but we cannot do that. Offered them $5K over three months but they will not budge off of 50%. Will they really sue? A little scared. |
You could send them a letter demanding arbitration before they sue...currently a interesting weapon against creditors. Once you elect arbitration they can't sue, and if they do you have a cause of action against them...They can't arbitrate because the arbitration forums that they had bought and paid for were found out last year and shut down by multiple lawsuits by states atty generals...Puts you in the drivers seat...They can't sue, they can't arbitrate, but i bet you'd get a decent settlement offer....
I received the same letter. I'm curious if others were able to
I received the same letter. I'm curious if others were able to work their way through it, and whether Chase actually sued. My guess is that an actual lawsuit is months away.
Quote:Originally Posted by OZZIE69They are playing hardball with
Quote:
Originally Posted by OZZIE69 They are playing hardball with me also. Charges off 2/28 and only offering 55%. Calling daily. I will talk to soon and offer 30% hoping for 35%. If not, let it charge off. I know someone who got 16% 1 month after charge off. |
Settled my $18,568 Chase account last Friday for $5,985.00.
And in three installments.
It was at 91 days.
Good Luck.
You can do it.
Quote:Originally Posted by Michael StevensI received the same le
Quote:
Originally Posted by Michael Stevens I received the same letter. I'm curious if others were able to work their way through it, and whether Chase actually sued. My guess is that an actual lawsuit is months away. |
Maybe you missed my post above, I guessed that the suit was months away and thought it was a bluff and at Day 65 had a local law office on the phone...They were serious with that account...
Quote:Originally Posted by King Jabba LabbaSettled my $18,568 Ch
Quote:
Originally Posted by King Jabba Labba Settled my $18,568 Chase account last Friday for $5,985.00. And in three installments. It was at 91 days. Good Luck. You can do it. |
I am at 120 days and today they offered me 50%, which is down from the 60% at 90 days. I offered 28% from my tax refund and they turned it down. They told me the reason is that I only drew the account one year ago, even though I had drawn and repaid it several times in 10 years. It seems like the length of time the account had the money drawn is important to them. If you don't mind saying, did you carry your balance for a long time or not? Has anyone else faced this issue due to length of time the money was borrowed or cash advanced?
Quote:Originally Posted by King Jabba LabbaSettled my $18,568 Ch
Quote:
Originally Posted by King Jabba Labba Settled my $18,568 Chase account last Friday for $5,985.00. And in three installments. It was at 91 days. |
Wow, a very good & fast settlement. Care to share how you were able to get CHASE to settle for such a good % and at ONLY 91 days? I've read that creditors usually don't even offer any type of settlement until 120+ days late. Congrats.
Quote:Originally Posted by luckin10I am very anxious to hear how
Quote:
Originally Posted by luckin10 I am very anxious to hear how this Chase thing plays out Ozzie and Whaat1881...PLEASE..keep us posted. AND good luck. I really hope you get great settlements. We too have a Chase card and just are starting this month in not paying our bills. We have never NOT paid a bill so this really goes against the grain for us. I am so nervous. But I am so done with these stupid banks that keep raisng our interest and min. payments. You can't get ahead to save your life. I am so glad for these forums. Anyways, pls keep us posted and I will anxiously keep checking. |
Done Deal! I just got off the phone with Chase and they settled me for $1000 on a debt of $4955, which is 20%. I just stuck to my guns, I told them yesterday that I could $1000 that's it, my house foreclosed and I had another card I was trying to settle and if they didn't take my $1000 then the other bank was going to get it and they wouldn't get nothing because if they didn't settle I was filing bankruptcy, of course they did ask where I was getting the money and I told them I was borrowing it from my brother and thats why I had only $1000, period. They said all they could do was $1950, I said fine "bye" and he said wait I will put it through and see if can be approved, today he called and said it was approved and I set everything up to settle!
Thank you for everybody's help here all the information has been tremendous, I hope you all get what you are hoping for.
Quote:Originally Posted by CITYBOYI was 75 days late with Chase
Quote:
Originally Posted by CITYBOY I was 75 days late with Chase and I settled at 35% for 30k. They were very easy to deal with. |
CITYBOY,
How often did you take calls from Chase before working out this settlement? Soon will be 90 days and no offers yet; only have had a few phone conversations. Thanks.
I recently started using a debt settlement company, chase is one
I recently started using a debt settlement company, chase is one of the credit card companies I owe. Just the other day they sent me a letter stating they had been contacted by the company and responded telling me that they "do not deal" with these settlement companies. I am new to the forum and now wish I had not hired the company and just negotiated myself. I am about (6) months on five accounts any suggestions-thanks
Fire them and do it yourself, unless you want to wait until it g
Fire them and do it yourself, unless you want to wait until it goes to collections.