Brrr- hell is freezing- I finally settled with Chase 35%
Date: Wed, 07/07/2010 - 11:49
What I discovered in this process is that Chase looks at your balance and decides how much of it is coming from interest and fees, vs things you actually bought or cash advances. If more of your balance is due to fees and interest, they are more willing to cut the settlement amt. In my case my balance was mostly cash advance and purchase. I had a low interest rate prior to these recent hardship issues. So it was hard for me to settle. I am happy with the 35%.
Now I have to settle with world financial bank, another black hole.
Thanks for all the support here.
Annoyed
Good news...congrats!! I'm about at the 120 day mark myself.
Good news...congrats!!
I'm about at the 120 day mark myself. So far they have sent me letters offering 70%. I need to go back and look at my statements to determine how many cash advances I have on there...thanks for the tip.
Yikes...I just checked my balance an a major portion was cash ad
Yikes...I just checked my balance an a major portion was cash advance 2 years ago. Hopefully I can get 35% too. IMO that's a good settlement :-)
If your cash advances are over a year ago they won't care. Its
If your cash advances are over a year ago they won't care. Its only the recent ones. What they look at in settlement is the amt of your balance that is interest and fees vs the actual money out the door for them.
I got that 70% letter also. Wait another month and answer the phone when they call and tell them you only have 20% to settle and see what they say.
Oops I mean to say balance transfer not cash advance. From what
Oops I mean to say balance transfer not cash advance. From what I can tell they have only received $2500 in interest and fees on a transfer for $18K since I stopped paying. Oh well I will remain hopeful :D.
Thanks for the advice. I need to figure out what number Chase is calling me from (if they are) I get so many calls from Cap One from so may multiple numbers I can't keep it straight.
Greetings Annoyed, You've done well to settle with chase-me do
Greetings Annoyed,
You've done well to settle with chase-me down.
Seems that the settlements may just be tight'ning up.
Congrats!
King "Kash" Jabba Labba
Congrats on your settlement and best wishes for the remaining on
Congrats on your settlement and best wishes for the remaining ones :)
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Jason
Chase seems to eventually offer 35% directly or through oca rega
Chase seems to eventually offer 35% directly or through oca regardless. In a general sense, I understand that if they see you bought a car on the credit card, they may want to file suit...but for most normal situations whether cash advance or not they seem to settle at this rate.