Need to settle with Chase
Date: Fri, 03/19/2010 - 10:18
IMHO, Chase is more likely to sue if they know there's income.
IMHO, Chase is more likely to sue if they know there's income. Self employed/laid off is the better way to go. They don't care about reduced income, just whether or not if they sue d that they can collect...There are several reports on here of 20%er's on those balances, I did a 19.6 on 24K, a 31% on 18.5K, which was high..As far as disclosure, unless contradicted by your credit report, I'd disclose little except there's no money...
credit reports don't show current employment do they? if not how
credit reports don't show current employment do they? if not how can a CC company tell if you are employed?
I called them on Friday, they didn't ask me anything about our j
I called them on Friday, they didn't ask me anything about our job situations, just at the end asked what happened that we started not paying, when I started to explain about pay cuts/reduced hours etc., he just interrupted and said "so it was a loss of income" and that's all he wanted to know. It was actually a very easy conversation, he gave me good info, at first said 70% settlement was all they could do, but I had him to 35% before we were done, still hoping to get it lower.
Penny, Great that you could get Chase from 70% - 35% in your fi
Penny,
Great that you could get Chase from 70% - 35% in your first settlement conversation. I have two Chase cards ($28K) one around 120 days late; the other is 60. How ofter have you spoken with Chase and explained your situation? I am hoping to begin settlement talks at the end of this month, I have only spoke with them twice, but they call constantly from various nbrs. Best of luck to you.
That was my first call, he also noted on my account that I was m
That was my first call, he also noted on my account that I was making payment arrangements and I haven't had a call from them since, so that was a nice added bonus
Penny you must be a great negotiater!!! 35% looking pretty good
Penny you must be a great negotiater!!! 35% looking pretty good.:D
Penny that is good news. Best I could do is 50% on my 2 account
Penny that is good news. Best I could do is 50% on my 2 accounts, but he first just hit 150 days. Second hits in a week. They tell me it is wth an internal lawyer already.
I've done 4 accounts already and find that they just need something to put down on their form.
First I wanted to say thank you to all the people on this board.
First I wanted to say thank you to all the people on this board. I just settled with Chase on Saturday (124 days). I owed 33k and I settled for 10K (around 30%). I have never been late on a credit card in my life and I lost my job and have no income. I plan on staying away from credit cards in the future. I read this board everyday when the phone was ringing and it was this board that got me through. I still have one card to settle with HSBC 11K and they won't budge. They want 50% ($5,500). It makes me so mad because I had signed up for services to get a business going (Business Coaching with Prosper Inc.) and I never received the coaching I was promised. So, my situation went from bad to worst. I was suppose to make money and now I am unemployed and owe them 11K for business coaching that I did not get. HSBC has not been easy to work with. I know it is not their fault that I didn't receive services, however you would think there is something they can do. My account will charge off in 5 days. I'm not sure if I need a lawyer or what?? Prosper won't return my calls or emails and they received all the money. What a scam!! Does anyone have any advice on this?
Thanks!
The first offer Chase ever made me was for 30%! However, they w
The first offer Chase ever made me was for 30%! However, they won't budge off of that and its due for charge-off next week. BofA gave me 20%, so I was hoping for that from Chase.
My question is how much worse for my credit report is it if I let the Chase accounts charge-off and pay a collection company vs. paying Chase before they charge-off.
Thanks for your help.
Steve, I do know you can get better deal after charge off. As f
Steve, I do know you can get better deal after charge off. As far a credit report, most say the hit is not that bad. Once you settle with CA it will start to get better.
I'm a debt negotiator and have have settled with Chase many time
I'm a debt negotiator and have have settled with Chase many times. Not the problem you think it is.
Bernie
They put me with IC Systems, which I find like a brick wall. St
They put me with IC Systems, which I find like a brick wall. Stuck at 40% and will not budge. Then they went to 30...I offered 28. They said they would call back and didnt. When I called them, they offered 40. Like shooting at a moving target.
Does anyone know if it helps when negotiating your settlement to
Does anyone know if it helps when negotiating your settlement to offer to pay them in fewer payments, say 30% in 1 or 2 payments as opposed to 4 payments?
Quote:Originally Posted by Penny J. BourDoes anyone know if it h
Quote:
Originally Posted by Penny J. Bour Does anyone know if it helps when negotiating your settlement to offer to pay them in fewer payments, say 30% in 1 or 2 payments as opposed to 4 payments? |
Yes. A Single payment will often get you a better deal, maybe by 5%.
I'm curious of experiences with Chase if you are still current o
I'm curious of experiences with Chase if you are still current on your mortgage. I'm behind on all my cards, settled already with B of A, but am current on mortgage and car lease. Need to have a roof over my family's head, even though my monthly payment has gone up due to taxes. My account is filed with the county for a lawsuit, and now I'm trying to get 50% approved before I'm served. Not where I wanted to be, but I think Chase can be tougher than you think.
Quote:Originally Posted by steve burkeThe first offer Chase ever
Quote:
Originally Posted by steve burke The first offer Chase ever made me was for 30%! However, they won't budge off of that and its due for charge-off next week. BofA gave me 20%, so I was hoping for that from Chase. My question is how much worse for my credit report is it if I let the Chase accounts charge-off and pay a collection company vs. paying Chase before they charge-off. Thanks for your help. |
Steve, Chase is stuck at 30% and boa/fia is stuck at 30% on 3 cards 150 days. How did you get boa to 20. That is the one I need due to high balance. Any tips are greatly appreciated. Thx