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Financial Asset Management System / Chase USA - SETTLED!

Date: Sat, 03/06/2010 - 14:32

Submitted by Shazzers
on Sat, 03/06/2010 - 14:32

Posts: 17344 Credits: [Donate]

Total Replies: 3


Here's a little info for those of you who are trying to reach a settlement with Chase USA or Financial Mngmt.
A friend of mine just settled with Financial Asset Mngmt who was assigned to an account on behalf of Chase USA. They are rude, crude and know little or nothing about following the FDCPA guidelines (not that I expected they would). They have been calling day in and day out for the past few days, a few days before they were assigned to collect for Chase USA they started calling. They were told to send a letter of collection as required by the FDCPA, but, they never did. Anyway, the friend of mine settled for $5000.00 on a 20,000.00 debt. I suggested he got it in writing before any money passed hands, and he did. They tried to talk him into using his debit card, sending a good faith payment and or sending a check overnight. lol They even tried to tack on an extra $139.00 but I told him to stand his ground, and he did!
Soooooooo, final results, he has until March 15th to pay the $5000.00 and the debt will be considered paid.
Applause applause for him!!


Quote:

Originally Posted by Anonymous
is this with someone that owed Chase directly and did this one their own ? how many days late were they ?
seems like a good deal yes but still need some more facts to go with it.

He made his last payment to Chase USA in January 2009, it was assigned to another collection agency who never validated, then a week ago it was assigned to Financial Asset Mngtmt, I know this for certain because I called Chase to find out who either owned the debt or was assigned to it. The day after I spoke with Chase my friend received a phone call from Financial Asset, I spoke with them and told them they now have 5 days to send a dunning letter, they replied they weren't familiar with a dunning letter. Basically they hung up on me. They called again the other day, my friend struck a deal with them over the phone but requested they fax everything in writing, which they did.
Interestingly enough, during the conversation my friend told them he had other creditors he was trying to settle with, one of them being BOA, the representative at FMS told him that BOA was also settling for pennies on the dollar. lol Well, anyways, there ya go!


lrhall41

Submitted by Shazzers on Sun, 03/07/2010 - 07:59

( Posts: 17344 | Credits: )