Debt Negotiating with a Chase Credit Card

Is the attorney calling you for the payments on behalf of the original creditor? If yes, then you can negotiate with the attorney so that he/she agrees to settle the account by reducing more than 20% of the balance amount. Once the attorney agrees to it, you should ask him/her to provide it in writing and then start making the payments.

Check out the following page to know how to negotiate a settlement on your own successfully:

http://www.debtconsolidationcare.com/steps.html

Bluebonnet Financial Assets is handling it..not sure if the attorneys work at Bluebonnet or for them? I have spoken to them several times and they will not take off any more than 20%. If I don't settle they will file for a judgement.

If they file and I get an attorney and pay him will it be less?? Sounds crazy but I think it might be...from what I've heard.

How long ago did Chase write off the account? How long has it been since you received the letter? Is there a statement on the letter that states you have 30 days to dispute the debt or any portion thereof? Have you validated the debt? Are you sure these people even own it or that the balance is correct? I think your first step is to send a DV letter. Don't negotiate until you've established that the debt is a) yours, b) legit, and c) the correct amount. They can file all they want but, they have to go to court and win in order to get a judgment.

Anna...

To answer your question yes the attorney is calling to collect payment on behalf of Chase. The letter states that it's been assigned to Bluebonnet Financial Assets...I guess chase stills owns it? Problem is they will not negociate the 20%. Can I call Chase or will they even discuss with me? I just want to make sure this is the best deal I can get.

If Chase has assigned it, they likely won't discuss it with you while BFA has it. How far past due are you?

The letter states they sent me a letter March 4 (which I didn't receive) and since they haven't heard from me they are drafted a lawsuit which they plan to file in the near future.
It's states I can avoid a lawsuit by working out the matter but they will only offer 20% discount.

I can have them prove the debt is mine but want to avoid them filing anything and me having to hire an attorney if possible.

They sent me a copy of the Chase bill...

Opening date 11/27/08 - 12/28/08
Payment due date 01/20/09

If they have only been assigned, validation won't be a problem. Generally, when a CA is acting on behalf of the OC, the amount they're offering is what the OC is willing to accept. The CA takes your offer to their client for approval. If Chase isn't willing to accept less, that may be the best offer you get at this point. Can you afford to pay the $8K? If not, maybe you should set up an affordable payment plan and if, in the future, you're able to pay a lump sum, try to negotiate a settlement on your balance at that point.