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Chase settlement

Date: Thu, 04/08/2010 - 06:19

Submitted by love_terminator
on Thu, 04/08/2010 - 06:19

Posts: 4 Credits: [Donate]

Total Replies: 18


I got a settlement offer of 35% from chase last week for $9000 balance just 90 days. They called again this morning and I offered 25% and the CSR ask her manager and immediately counter offered 30% for 4 installments. It sound like pretty good deal to me, so I accepted. I got other two accounts to settle but so far chase is the best one. They are very nice and never been hash or pushy. AE is the exact opposite. There are one lady been very rude to me. It is a big balance 30K. The best they offer is 65% right now. I am on payment program with BOA before. They are not offering me any settlement yet cause my account still not pass 90 days. They are not that hard to deal with. Just keep calling me. These are my experience with DIY settlement. I was consider settlement company before but decide to DIY after browsing this forum. Best decision I ever make. ^^


hey congratulations! I got a settlement out of Chase yesterday too for 35% on a $9800 debt. I was thrilled. Waiting on the letter today via fax. It is also over 4 payments to give me time to settle the last card with Capital One. I gave capital One attorney info yesterday so that I would move to the bk unit that may be more willing to accept a settlement in the range that I want. Right now they are ony offering about $1000 off a $5000 debt.


lrhall41

Submitted by on Thu, 04/08/2010 - 07:00

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Quote:

Originally Posted by dantheman
I don't take pride in "screwing them over". And to a point I feel badly about it. It is more of a business dealing rather than a triumph.


agreed.

you may have screwed them as you like to say, but you have also screwed yourself as far as credit worthiness for the near future. hope you are settled in a house/apartment and already have a car cause good luck trying to get a loan for either one of those. oh and i wouldn't think to much about getting another CC either


lrhall41

Submitted by blackbeasst on Sun, 04/11/2010 - 07:32

( Posts: 196 | Credits: )


Quote:

Originally Posted by Anonymous
Just settled with chase for 30%. Screwed them over for 15000. Check one for the good guys. Whoooooooooooooooooooooooooooopie


Bad choice of words in my opinion.
I decided to take matters into my own hands and yes I did save mucho $$$.

But it's all my fault for using easy credit.
No one elses fault but mine.

Did they make money offf of my account?
You Bet!

And I will never ever use a cc again.
Paying cash from now on!!!!

:D:D:D


lrhall41

Submitted by King Jabba Labba on Sun, 04/11/2010 - 18:36

( Posts: 507 | Credits: )


Quote:

Originally Posted by Anonymous
Just settled with chase for 30%. Screwed them over for 15000. Check one for the good guys. Whoooooooooooooooooooooooooooopie


i like the settlement,but when you get the 1099c.then you will realize you screwed nobody.again like the settlement,but you are not out of the woods with this yet.


lrhall41

Submitted by paulmergel on Sun, 04/11/2010 - 18:50

( Posts: 15514 | Credits: )


Quote:

Originally Posted by DebtfreeSoonToBe
Paulmergel,
what is your opinion on the insolvency rule (loophole) as far as not having to report 1099c income on your return?


it works,but you really have to prove insolvency.if you are insolvent then i guess somebody can settle that amount with no consequences,but if they can't prove insolvency then what i posted previous applies.i do believe in it for those who truly are insolvent.


lrhall41

Submitted by paulmergel on Mon, 04/12/2010 - 18:46

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I settled cc's this year and will deal with a very large real estate loss and debt write off next year. Therefore, this year it helps me show insolvency because I am so underwater on the real estate and therefore have a large liability making me insolvent...then next year if I settle the mortgage it qualifies as exempt as well, under another tax provision.


lrhall41

Submitted by dantheman on Mon, 04/12/2010 - 20:45

( Posts: 860 | Credits: )


Quote:

Originally Posted by Anonymous
Just settled with chase for 30%. Screwed them over for 15000. Check one for the good guys. Whoooooooooooooooooooooooooooopie


I am the one who posted this quote. I purposly charged up my credit cards with the intentions of defaulting. I have a mortgage for a home and, own 2 new vehicles, and have about 12000 in savings after the settlement that is stashed away in an alternate account. I also apllied and received a credit card with another lender with a $10000 limit 2 months before i went into default. So, as far as credit for the immediate future I'm pretty much set. I will use my mortgage and current credit card to rebuild my credit over the next 4-5 years. As far as the 1099, i claimed insolvency. My mortgage on my home is more than my home is worth, so i am covered by insolvency. I don't plan on moving any time soon and can comfortably pay my mortgage and in 5 years the housing market and my credit will have repaired itself and i will be sitting pretty.

So whooooooooooooooooooooooopie it is.


lrhall41

Submitted by on Wed, 04/14/2010 - 05:34

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Quote:

Originally Posted by Anonymous
I am the one who posted this quote. I purposly charged up my credit cards with the intentions of defaulting. I have a mortgage for a home and, own 2 new vehicles, and have about 12000 in savings after the settlement that is stashed away in an alternate account. I also apllied and received a credit card with another lender with a $10000 limit 2 months before i went into default. So, as far as credit for the immediate future I'm pretty much set. I will use my mortgage and current credit card to rebuild my credit over the next 4-5 years. As far as the 1099, i claimed insolvency. My mortgage on my home is more than my home is worth, so i am covered by insolvency. I don't plan on moving any time soon and can comfortably pay my mortgage and in 5 years the housing market and my credit will have repaired itself and i will be sitting pretty.
So whooooooooooooooooooooooopie it is.


No doubt the authors proudest moment- what an acheivment! If your intention was to make me puke, congratulations it worked. The users of society will rejoice having just found their new king. I'm not usually prone to believing in Karma but my advice to you is to be sure you're wearing safety gear at all times- I have to believe it's just a matter of time before you fall face forward into a very, very sharp stick.


lrhall41

Submitted by on Wed, 04/14/2010 - 10:20

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Quote:

Originally Posted by Anonymous
I am the one who posted this quote. I purposly charged up my credit cards with the intentions of defaulting. I have a mortgage for a home and, own 2 new vehicles, and have about 12000 in savings after the settlement that is stashed away in an alternate account. I also apllied and received a credit card with another lender with a $10000 limit 2 months before i went into default. So, as far as credit for the immediate future I'm pretty much set. I will use my mortgage and current credit card to rebuild my credit over the next 4-5 years. As far as the 1099, i claimed insolvency. My mortgage on my home is more than my home is worth, so i am covered by insolvency. I don't plan on moving any time soon and can comfortably pay my mortgage and in 5 years the housing market and my credit will have repaired itself and i will be sitting pretty.
So whooooooooooooooooooooooopie it is.

Wow... just... wow.


lrhall41

Submitted by TheDebtClassroom on Wed, 04/14/2010 - 12:43

( Posts: 27 | Credits: )


Quote:

Originally Posted by Anonymous
I am the one who posted this quote. I purposly charged up my credit cards with the intentions of defaulting. I have a mortgage for a home and, own 2 new vehicles, and have about 12000 in savings after the settlement that is stashed away in an alternate account. I also apllied and received a credit card with another lender with a $10000 limit 2 months before i went into default. So, as far as credit for the immediate future I'm pretty much set. I will use my mortgage and current credit card to rebuild my credit over the next 4-5 years. As far as the 1099, i claimed insolvency. My mortgage on my home is more than my home is worth, so i am covered by insolvency. I don't plan on moving any time soon and can comfortably pay my mortgage and in 5 years the housing market and my credit will have repaired itself and i will be sitting pretty.
So whooooooooooooooooooooooopie it is.


LOL! Am I the only one who realizes that Mr. Clever here has posted a full blown confession of premeditated fraud and provided the CC's lawyers a list of his attachable assets? Does he really think that his IP address can't be traced regardless of posting under "anonymous"? OOOOOOOOOOOOPS!.......


lrhall41

Submitted by on Thu, 04/15/2010 - 14:24

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Quote:

Originally Posted by Anonymous
No doubt the authors proudest moment- what an acheivment! If your intention was to make me puke, congratulations it worked. The users of society will rejoice having just found their new king. I'm not usually prone to believing in Karma but my advice to you is to be sure you're wearing safety gear at all times- I have to believe it's just a matter of time before you fall face forward into a very, very sharp stick.


I agree totally. If you default with intent, it absolutely IS stealing. Intent is what is key here. Most of us got in over our heads with the intent of repaying and due to job situation or loss in home value the bottom fell out. You should be ashamed, not proud.


lrhall41

Submitted by dantheman on Thu, 04/15/2010 - 16:15

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