Received Chase 70% payoff offer in the mail
Date: Tue, 06/08/2010 - 12:44
Chase sent me a letter with a 70% payoff today. its a "settlement plan limited time offer". I only have about 25% available to settle with cash, so I need a much better offer. For others that have settled with Chase should I respond to this letter and say I only have 25% and start negotiating, or ignore it?
You could make an offer but if you start at 25% and that is all
You could make an offer but if you start at 25% and that is all you have, you dont have any room to negotiate.
Definately call them and let them know you want to settle but ca
Definately call them and let them know you want to settle but can't settle that high. They have opened the door to settlement so that's a good sign.
Settling at fifty percent is a good idea. You have to understand
Settling at fifty percent is a good idea. You have to understand that they're not getting any benefits of going dirt cheap on settlement. One way or another they may just end up taking you to court , going for that default judgment.
Like I've been saying for last few weeks . If you have something to lose, house, car, sanity, life, stress... than settle the debt prior to court. If your broke, living with parents, unemployed by all means ignore the sucker.
Your debt will simply be sold down the latter to low level debt buyer who will try to collect on it or hit you with the law suit. These days taking someone to court is like going to the bar for some drinks. Pretty, easy and simple.
Settle your debt if you got the funds. If not than let them know that this is what I have to offer and if you reject the offer than you may never end up paying the debt off.
Ask to speak with a manager . Let them know that you have more than one creditor on your back and that most of them are willing to settle at 30% or 50% etc.
Ben