Chase threaten legal action

I don't believe so. It's probably their last ditch effort before turning it over to a collection agency. 30% is a good settlement for a $30,000 balance.

Quote:

Sounds like 70% to me. I believe it is a scare tactic and would wait longer.

Same observation here.

Are they offering a 30% discount form the balance?

or.....

Are they willing to settle for 30% of the balance?

If it's the latter, I'd grab it!
My chase-me down accounts settled right at 30% and I was mucho happy to take it.

Regards,
King "Kash" Jabba Labba

Hi OP,

Please clear us what Chase actually offered you. If it is to settle for 30% of the principal amount, I would take it with both hands. But if it is the other way, I would prefer it to go to the CA.

Yeah sorry for the miscommunication. Its actually now a 60% settlement offer as of this am(40% off balance). I am currently 60 days past due according to them on both accounts. Total is 30k. The letter said i have 7 days to make a payment or i will be reviewed for possible legal action. Is this common to get a letter like this. To me it is worded like its a threat to get me to pay. Has anyone else gotten a letter like this?

I would call 866-833-6398 they can get you a deal at around 20-25 percent of what ever you owe.