Chase Settlement?
Date: Mon, 04/05/2010 - 16:56
Thank you so much!
Hi. I also have an offer of 35% to settle my two Chase cards, b
Hi. I also have an offer of 35% to settle my two Chase cards, but I don't have that much money and still have plenty time before I reach 180 days late. How late are you on your card? Thank you.
I just got a 50% settlement offer from B.O.A, Today as well.....
I just got a 50% settlement offer from B.O.A, Today as well..... It was from a CA only after 60 days late? I wish I had 5000 somewhere, tried my 401k but am a little short. Plus I just started with OVLG .
Quote:Originally Posted by AnonymousMy credit card company (Chas
Quote:
Originally Posted by Anonymous My credit card company (Chase) has given me a deadline before going into litigation. I can settle with them now for 35% of the balance. If I let it go to the litigation stage, what are my chances for settling for LESS than that? I don't know whether to take this offer or not. Deadline for responding is tomorrow. I'm dealing directly with Chase - it's not a collection agency. Thank you so much! |
Your chances are...... slim and none. If they're ready to litigate, they'll be going for 100% + whatever your states interest rate is on judgements.
Quote:Originally Posted by NASCAR_DevilYour chances are...... sl
Quote:
Originally Posted by NASCAR_Devil Your chances are...... slim and none. If they're ready to litigate, they'll be going for 100% + whatever your states interest rate is on judgements. |
IF he were with say....... OVLG would he be ok?
Hire an attorney that specializes in this area of practice and m
Hire an attorney that specializes in this area of practice and make sure it is a florida attorney.
Sounds like this is right on the verge of Chargeoff if the 09/09
Sounds like this is right on the verge of Chargeoff if the 09/09 last payment is correct. Since they're already giving deadlines for legal action and a 65% savings it might be too late for OVLG to help with this particular account.
I would settle before it goes to litigation and if you have the
I would settle before it goes to litigation and if you have the 35%; it is really a good deal.
I have read on this forum that most settle for 30-35%; though some have settled for 20-25%. Have you tried to offer them the $ amt equal to 30%? Maybe if you offer it in one payment (if you afford to do that), Chase may accept it. Call them tonight and discuss it; you can always accept the 35% if you can't get them to go lower. Best of luck.
Thank you everyone for your input. We attempted to negotiate
Thank you everyone for your input.
We attempted to negotiate it for less, but were unsuccessful. That we're NOT in official foreclosure seemed to matter (though we haven't paid mortgage for 5 mos). We took them up on the 35%, and are happy to not have the stress of this hanging over us anymore. (If/when we go into bankruptcy, we now have one less credit card balance, which was significant, to repay as part of the bankruptcy, providing the bankruptcy doesn't start for over 6 mos.)
Btw, hubby ranted to Chase when the amount we were paying wasn't an even dollar amount - it was a penny over. Chase therefore charged an extra 99cents as they needed a round number, and were only allowed to round up. Incredible! Hubby ranted to them saying: "Only a bank would create a transaction like that!"
Quote:Originally Posted by AnonymousThank you everyone for your
Quote:
Originally Posted by Anonymous Thank you everyone for your input. Btw, hubby ranted to Chase when the amount we were paying wasn't an even dollar amount - it was a penny over. Chase therefore charged an extra 99cents as they needed a round number, and were only allowed to round up. Incredible! Hubby ranted to them saying: "Only a bank would create a transaction like that!" |
That is frickin hillarious!!
Anyway, your settlement is very good. I got 30, but only after it went through collections and the balance had increased with fees and interest. Congrats.
