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After a week of talking with Chase bank, they contacted me today and said that I was approved for the Balance Liquidation Program. The terms were 60 months at 2% interest ($374). They said I need to make the current payment of $1061 before the paperwork could be generated for the 60 month payment. I asked for this in writing and they said it would not happen in writing until I make the account current. Does this sound right? Anybody else experience this?




Balance Liquidation Program of Chase is a hardship program offered by the bank.

Some more information on Chase's hardship program is given below: -
Chase hardship program

How can I register myself for a hardship program with Chase?

Sub: #1 posted on Wed, 02/11/2009 - 22:04

phoenix phoenix
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I was able to get the account current with a $1060 payment. I have not heard from Chase yet on generating the paperwork for the hardship program.

Sub: #2 posted on Sun, 02/22/2009 - 17:48

sideattack2000 sideattack2000

(Posts: 7 | Credits: )

jeez 2% sounds like a great deal ... and it doesn't negatively affect your credit?

Sub: #3 posted on Mon, 02/23/2009 - 11:05

smo65d11 smo65d11

(Posts: 1468 | Credits: )

i actually was able to get 0% on all my chase accounts. my accounts were all current though. maybe that has something to do with it.

Sub: #4 posted on Mon, 04/13/2009 - 14:20

Unregistered


I was current as well and the best I could do on the BLP with a 20K balance was 6% over 5 yrs. Still better than its inception rate. Employment being the issue here in FL, I hoping I can keep it AS current as possible.

RAN

Sub: #5 posted on Mon, 04/13/2009 - 15:23

Unregistered


I got the info through the mail and had it all set up to schedule my payment and at the last moment the guy in INDIA said it was pending. Pending what? I ask he he was unable to give me a exceptable answer. and for the 2% DEAL SOUNDS GREAT,and the be current thing they ashed but I was unable to give them a real time for the next payment.

Sub: #6 posted on Tue, 04/28/2009 - 15:39

Unregistered


I WANTED TO COMMENT ON THE BLP PROGRAM THAT'S OFFER'D @ CHASE. THIS PROGRAM I HAVE TO SAY IS HAS YES/NO ELIGIBILITY AND WHILE THE "YES" ELIGIBILITY COMES W/THE CRITERIA ON HOW ONTIME U PAID YOUR ACCOUNTS, IF YOU CHARGED UP YOUR ACCOUNTS BEFORE ASKING FOR THE PROGRAM, CASH ADVANCES MAY NOT QUALIFY YOU FOR A LOW INTEREST RATES, IF CASH ADVANCES WERE TAKEN OFF WITHIN THE LAST YEAR. THE WAY TO ASK FOR A BLP, WHICH IS SYNOMOUS TO A HARDSHIP PROGRAM, IS TO DO THE FOLLOWING; NEGOTIATE THE DOWNPAYMENT! THERE IS NOT REQUIREMENT FOR U TO HAVE TO BRING ACCOUNT CURRENT, CHASE WILL ACCEPT THE BOTTOM BUCKET AS YOUR DOWNPAYMENT FOR THIS PROGRAM. NEXT, OUTLINE YOUR BUDGET. FINANCIAL INFORMATION INCLUDES THE FOLLOWING; RENT/MORTGAGE, 2ND MORTGAGE, INSTALLMENT LOANS, REVOLVING DEBT. YOU MUST SHOW WILLINGNESS AND ABILITY TO BE ON A REPAYMENT PLAN. TO QUALIFY FOR A LOW INTEREST RATE, SIMPLY MAKE YOUR EXPENSES VS WHAT YOU MAKE ABOUT ONE TIME YOUR SALARY (+) CASH FLOW. STRONG NEGONIATIONS SKILLS AND PERSISTANCE WILL GET YOU WHERE YOU WANT TO BE. THIS HOLDS TRUE FOR THE ASSIST PROGRAM ASWELL. I HOPE THIS HELPS EVERYONE.

THANK YOU.

Sub: #7 posted on Sat, 05/23/2009 - 15:32

Unregistered


do you have to be delinquent to qualify for the BLP program with Chase?

Sub: #8 posted on Mon, 06/22/2009 - 14:32

smo65d11 smo65d11

(Posts: 1468 | Credits: )

no

Sub: #9 posted on Mon, 06/22/2009 - 17:41

Unregistered


should I call and specifically mention BLP? Or just ask about a hardship program in general?

Sub: #10 posted on Tue, 06/23/2009 - 10:05

smo65d11 smo65d11

(Posts: 1468 | Credits: )

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