logo

Debtconsolidationcare.com - the USA consumer forum

Ch@se multiple cards settlement

Date: Thu, 03/25/2010 - 10:05

Submitted by mojo
on Thu, 03/25/2010 - 10:05

Posts: 50 Credits: [Donate]

Total Replies: 7


How do you settle multiple cards with ch@se? Let's say you have 4 cards and one is with an external CA (none charged off).
1. The 3 cc's have a balance of 2k, 4k, and 6k. Ch@se talks in percentages for settlement, and won't lump the accounts together. And want 40%. But what happens when I tell them I only have $1500 borrowed to settle? Will they only then be willing to settle the 2k card and reverse their verbal offer of 40%, and cancel the offers on the other cards, and hold it against me if I'm not willing to settle only one card?
Or is it best to just haggle the percentages, or the "here, this is all I have, take it or leave it, and split it among the accounts" option not work with them?

2. What happens if I settle with the CA:
a) before ch@se, won't they see it and then be angry that I didn't settle with them yet
b)after ch@se, does the CA have access to the settlement info from ch@se and use that to leverage me

3. ch@se refuses to pull back the one acct from the CA, and can't explaqin why it went to the CA, I don't understand this, has anyone ever got them to get it back to ch@se? Or does it go back to ch@se before charge off?


I wouldn't worry about one creditor pulling a credit report and seeing what you are doing with the others. Look at like dantheman. He has settled multiple cards one by one and it doesn't appear to have had any impact on his ability to settle the later ones. Hopefully he'll chime in and let us know if he ran into any problems on the later cards. But some card has to be first.


lrhall41

Submitted by on Thu, 03/25/2010 - 14:37

( Posts: | Credits: )


Quote:

Originally Posted by Anonymous
I wouldn't worry about one creditor pulling a credit report and seeing what you are doing with the others. Look at like dantheman. He has settled multiple cards one by one and it doesn't appear to have had any impact on his ability to settle the later ones. Hopefully he'll chime in and let us know if he ran into any problems on the later cards. But some card has to be first.


Again, though, I took payment plans so nobody could see I was settling until I knocked them all out. If you run my credit today, you will see nothing settled though I have knocked out 8 cards at $150k. I'm sure they will start to show soon as settled.

Haha...then I get to join the forum for how to fix a really f'ed up credit report. Good Luck


lrhall41

Submitted by dantheman on Thu, 03/25/2010 - 16:10

( Posts: 860 | Credits: )


Congratulations Dan. Just got the approval on my combined Chase accounts - $40K settled for $19K. 50 % and I don't think I could have done any better. Lawsuit filed already and I wasn't taking any chances with the courts.

Feels pretty darn good. Only got 2 more to go, my Citi and my wife's B of A, about $30K. I agree about shielding the settlement until the end, and I'll be right with you to try to fix things. I haven't checked my score, but supposedly Chase said I was still credit worthy.


lrhall41

Submitted by Michael Stevens on Fri, 03/26/2010 - 11:06

( Posts: 34 | Credits: )


Try [email]thecreditcoach1@gmail.com[/email] they can get you a 0 to 6% fixed rate until the card is paid off.

Quote:

Originally Posted by mojo
How do you settle multiple cards with ch@se? Let's say you have 4 cards and one is with an external CA (none charged off).
1. The 3 cc's have a balance of 2k, 4k, and 6k. Ch@se talks in percentages for settlement, and won't lump the accounts together. And want 40%. But what happens when I tell them I only have $1500 borrowed to settle? Will they only then be willing to settle the 2k card and reverse their verbal offer of 40%, and cancel the offers on the other cards, and hold it against me if I'm not willing to settle only one card?
Or is it best to just haggle the percentages, or the "here, this is all I have, take it or leave it, and split it among the accounts" option not work with them?
2. What happens if I settle with the CA:
a) before ch@se, won't they see it and then be angry that I didn't settle with them yet
b)after ch@se, does the CA have access to the settlement info from ch@se and use that to leverage me
3. ch@se refuses to pull back the one acct from the CA, and can't explaqin why it went to the CA, I don't understand this, has anyone ever got them to get it back to ch@se? Or does it go back to ch@se before charge off?


lrhall41

Submitted by on Fri, 03/26/2010 - 19:12

( Posts: | Credits: )