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Help!!!! What to do.

Date: Mon, 07/12/2010 - 13:35

Submitted by anonymous
on Mon, 07/12/2010 - 13:35

Posts: 202330 Credits: [Donate]

Total Replies: 3


Make a long story short. I have 4 credit cards and have made paying the minimum on 3 of them but the 4th card I have stop sending my payments now for 2 months. On that card I owe about $10,000. I have never been late on payments but I have recently lost my job and just cant pay it. I now average about 12 calls a day from Chase and was wondering should I talk to them? I have not picked up the phone so they don't know my story. Another thing is 3 out of 4 of my cards are from Chase and I have been paying the minimums of 3 cards from them but not the $10,000 card. Does Chase look at those other 3 cards and sees I'm able to pay on those but not on the $10,000 card? I have had such good credit all my life my credit line was always so high and that came back to haunt me because now I am in debt. I want to settle so should I wait, keep ignoring them, talk to them etc. Any words of advise or wisdom would be greatly appreciated.


You need to talk to Chase about your financial hardship. As you have always maintained a good payment record, Chase may agree to a settlement. Rather than ignoring the calls, you should immediately talk to them about the settlement. Remember to get the settlement agreement in writing.


lrhall41

Submitted by SC on Tue, 07/13/2010 - 03:18

( Posts: 3937 | Credits: )


My experience is that it's best to negotiate in writing, it makes it easier to think through your situation and how you want to reply. Sending them a letter that you would like to transact business via written correspondence rather than over the phone will help with the calls. There are some alternatives you have available, but it is best to act soon.


lrhall41

Submitted by on Tue, 07/13/2010 - 15:47

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