settle chase cards separately or together
Date: Tue, 03/02/2010 - 11:44
i'd like to get them down to around 20%. would it be best to continue negotiating on the total of both cards, or just focus on the 13K one since it's the latest?
Quote:Originally Posted by Anonymousi have two chase cards. one
Quote:
Originally Posted by Anonymous i have two chase cards. one balance is 13K and they're telling me it will charge off end of this week. the other balance is around 5K and it's only about 60 days late. when i spoke to them today they offered to settle them both at 45% of total (18K). i'd like to get them down to around 20%. would it be best to continue negotiating on the total of both cards, or just focus on the 13K one since it's the latest? |
45% is not bad but many on this board have done better. I would focus on one charging off and deal with smaller one later. Tell them you only have enought to do 13K. Throw out $2,600. If it charges off this is what you could hope for with a collection agency.
That' s of course a good offer to grab, but you can still extend
That' s of course a good offer to grab, but you can still extend for a negotiation. Ozzie' s suggestion is also quite worthy.
Settle the account that is going to charge off this week first,
Settle the account that is going to charge off this week first, make one last attempt to lower that settlement percentage, tell them at this time you only will be able to scrape up the payments to satisfy that offer with help from friends and family. Tell them that once you satisfy that offer you will satisfy the next. You will probably receive better percentages that way...
Chase (IC Systems) called me today and offered 50% on $20k @ 120
Chase (IC Systems) called me today and offered 50% on $20k @ 120 days. I offered 25% and they declined. My previous offer at 90 days was 60%.
Do they typically send you a settlement letter first or does the
Do they typically send you a settlement letter first or does the settlement offer just occur over the phone?
I just settled 2 chase cards approx 10 days ago, balance was 24k
I just settled 2 chase cards approx 10 days ago, balance was 24k settled at 19.6%. The post dated checks are set up for the payments over the phone, settlement agreements faxed over shortly thereafter and before any payments begin. Chase is nice to deal with, they will even allow smaller payments for the first couple months with a baloon at the end...
Maggie, thanks. So your two cards were combined, then? If you do
Maggie, thanks. So your two cards were combined, then? If you don't mind me asking, were they both about the same amount of days late, or different?
Maggie , you did payments over the phone, is that safe????
Maggie , you did payments over the phone, is that safe????