How do you offer settlement again after they refuse?
Date: Thu, 03/25/2010 - 12:21
I have Discover - 5,000 and they only offer hardships. A rep once told that they can do 75 percent but then backed off.
Chase - 10,000 and only accept 5,000. I offered them 3,500 few times and they say that it's already in legal dept and are going to sue me.
Citi - 15,000 and can only accept 9,000.
Amex - 3,000 sent me to collections after 90 days. No settlements offer from them as well.
Every card charges off sometime in April. I can only afford 35 on all. Our situation is really underwater and even if they sue they won't get anything. Wage garnishments may not work as well as we are one low income family of 4.
How do I handle when I offer and they say no? do i just hang up? do i explain how bad our situation is? They don't really counteroffer anywhere close to my numbers. always 80 percent or so. I want this over with. 6 mo of negotiating is tiring me up so bad!
Should I accept chase 50% settlement? I then might not be able to settle with other cards as i will be out of funds. We are already loosing our home, no modification program can help us.
Chase should actually settle for abut 20 to 30 percent, I'm surp
Chase should actually settle for abut 20 to 30 percent, I'm surprised. Did you inform your creditors of your hardship? Do you have funds in the bank they can verify you having, do you own your own home and is it mortgage free? I would on Citi and Amex just up the percentage a few points, Chase should buckle in but you must continue to show a willingness to work things out.
It sounds to me like they think they can get more from you or th
It sounds to me like they think they can get more from you or the cards are not simply past due enough, but if they charge off in April that's getting pretty close. I am running into the same thing with Capital One on one of my cards - charges off 4/8 and today I talked to the same guy I talked to for the past several days and still at about 80%. Talked to the same guy so many times that I told him I hoped he had a really nice evening with his family and that I'd talk to him again tomorrow. He kind of laughed. I even told him that my mother would give me $1200 to settle the $5500 but we only had a week to make a decision before she put it into a CD. He said he was sorry but the $4300 is all that is in the system. Real nice guy though. Guess I'll see what he says tomorrow when I talk to him. LOL
Chase...keep after them. Keep offering. Should get 30%. Call
Chase...keep after them. Keep offering. Should get 30%. Call 2x a day and talk to different people and make sure they present the offer. Amex....take the 50% or offer maybe 40%. They were my HIGHEST % at 35% but I am not generous and worked them over good.
Now, the deal is off if they can see asset value. Then you are doing well at 50%. My home is in foreclosure on my credit report.
Thanks all. I will try to call them but chase stopped calling on
Thanks all. I will try to call them but chase stopped calling once they put a settlement of 50 % in the system. They sent us this settlement and then just said it's going to be in the sys untill charge off and then they'll sue.
We have a chase checking with salary. It's not high but not minimum wage either. After saving for settlements and bills we are usually 50 dollars in the end of the month. I guess they are not looking on what we have left, just what we receive.
Ughh. I am kinda angry at chase. but i have a feeling they will sue us. While other cards will probably send us to collections
May not be the right thing for you, but if it was me, I would te
May not be the right thing for you, but if it was me, I would tell them "i'm trying this one more time I can afford to settle with you for the much $$$$, if you can't accept that then I will just use that money to hire a BK attorney, and won't matter whether you sue me or not". That might make them run fast to sue you or might make them consider you offer. That's just what I would do, but it might would push them on to sue. good luck.
Quote:Originally Posted by AnonymousThanks all. I will try to ca
Quote:
Originally Posted by Anonymous Thanks all. I will try to call them but chase stopped calling once they put a settlement of 50 % in the system. They sent us this settlement and then just said it's going to be in the sys untill charge off and then they'll sue. We have a chase checking with salary. It's not high but not minimum wage either. After saving for settlements and bills we are usually 50 dollars in the end of the month. I guess they are not looking on what we have left, just what we receive. Ughh. I am kinda angry at chase. but i have a feeling they will sue us. While other cards will probably send us to collections |
You need to close that chase checking and move to another bank. If not, they can take money out of your account to pay credit card. It is called right of offset.
You should wait until after charge off. let them send it out to
You should wait until after charge off. let them send it out to their CA's. You will rarely get the best settlements from their in house collections. Personally, I wouldn't settle on anything for more than 40%. They will come down. I have settled Amex as low as 16%.. Citi at 34% BOA at 20%. All were about 6-8 months old.