Chase Card - Should I hold payments to force decent settlement?
Date: Wed, 06/30/2010 - 20:15
- Was having trouble paying on time for almost 2 years, once they jacked the interest to the max (31.9%!) it went from bad to worse. Nice 'thank you' for a customer of 10 years!
- Right now, chase account is current.
- Recently layed off, last month.
- Got a small severance (which would be used for settlement).
- Found another job, temporary, at less pay.
They've made my life a living hell with the constant robo calls in the past. I just cannot go through that again. If I can get out from under this card I'll make it through.
If I let it slip to 60 days, can I get a decent rate and just be over it? The writing is on the wall, in my opinion. Credit score is already trashed from 2 years of them negatively reporting, big deal anymore...
I just recently received a settlement with Chase for 25% over th
I just recently received a settlement with Chase for 25% over three payments. I was 150+ days late; at 90 days late they offered 35% and didn't go lower until last week. I have had this cc for several years and no problems until Jan 2010 when I could no longer make payments due to unemployment.
Chase called (robo calls) 5 - 10 times each day; but I would only talk to them once every 3 - 4 weeks. A CSR told me that I could send a letter stating "do not call" and they would discontinue calling me....I never did it, I just ignored the calls, and chose when to call them each month. Once you talk with them, they usually do not call you again for a few weeks.
Chase CSRs have been nice each time I spoke with them; I explained that I could not make a payment at this time and didn't expect things to change, but would call them monthly to give them an update.
There are many knowledgeable folks on this forum....helped me through the process. I wish you success in your journey to financial freedom.
you guys with the 25% make me wonder why I could not get under 3
you guys with the 25% make me wonder why I could not get under 30%. Good for you but there seems to be no rhyme nor reason.
Hello w3bex, We settled my husband's account with Chase for 27%,
Hello w3bex,
We settled my husband's account with Chase for 27%, but we waited until 120 days. So, I dont' know how much you owe ....but you might have to wait till 90 to 120 days to get a good settlement. Also, before you miss the next payment ....change your contact info. It worked for us. My husband changed our contact numbers to his cell phone and almost all of the calls went to that number. I was so relieved. Good luck to you and keep posting your progress. i am almost done. have settled a lot of accounts from my husbands defunct business.....and I must say it was a relief!!
