Chase in-house counsel
Date: Fri, 07/03/2009 - 13:18
I'm giving this a little bump in hopes that others will see it a
I'm giving this a little bump in hopes that others will see it and respond.
Thanks for the bump, I did speak with them since I wrote and the
Thanks for the bump, I did speak with them since I wrote and they offered a 60% settlement or it would go to pre-legal. I can't settle at this point, I'll just have to wait it out.
Chase, Citi, and BoA are skipping the collection agency's and go
Chase, Citi, and BoA are skipping the collection agency's and going straight for lawsuits now in fear of the new Obama laws taking effect Jan 1st of 2010. If the new laws were not taking effect you could easily work a payment plan out with a collection agency in a few months or wait almost 3 years for them to file suit. If you have anyone to borrow money from I would use all efforts to try to make this happen. If you are unable to pay and have no family that can assist you then there is really nothing you can do. A judgement will not change your life that much if you have nothing they can collect. The thing to remember about a judgement is they will sue you first for the entire amount and most will come back and sue you later for court cost and lawyer fees. Keep your head up, there are a lot of people in the same boat as you are these days.
With Chase you can easily get them to settle for around 35% to 4
With Chase you can easily get them to settle for around 35% to 40% in just a matter of days. Just let them know that if you can't work out an arrangement, you may have to file bankruptcy. If your first attempt doesn't get you someone that will work with you call back and speak to someone again later in the day. It never hurts to try! If you do have any funds to pay them with, just let them know up front what you can give them. They changed my settlement amount from $3865 to $3000 on the same day just by speaking to someone different and letting them know it was that or I would have to offer it to my other creditors. BTW, I was 146 days past due.
Good luck! You are not alone.
That really changes things if they are moving up the timeline. I
That really changes things if they are moving up the timeline. I thought the new rules were set to take place in July 2010. I owe on quite a few cards and was hoping to settle in the 12-18 month range.
I heard the time frame for new consumer protection was to start
I heard the time frame for new consumer protection was to start on the first day of 2010 but this was from a lawyer and I have heard miss matched information from different ones in the past. The fact of the matter is these companies are scared and if they get the suit in on DEC 31st 2009 then the rules do not apply to you and they can press the suit all they want. The more I hear from people and the more I see makes me think this whole plan has just backfired in all our faces as people lose their jobs and need that amount of time the CA's bought them to get back on their feet :/.
settlement
I just settled with chase on a 5700 account for a little over 1700. And the CA is taking payments. It can be done!