Chase about to charge off or sue
Date: Fri, 09/10/2010 - 21:37
I am at the end of the process with Chase. They have my account in Pre-litigation and I have until this weekend to come up with the balance of $24k or else they say either sue or charge off.
My question is how many people have been at the same point with Chase and have had them sue?
I am 7 months late. I offered them a settlement and they claim I don't qualify. They say they will pass it off to their attorney for review and possible lit.
Any suggestions?
Thx
Quote:Originally Posted by AnonymousHi, I am at the end of the
Quote:
Originally Posted by Anonymous Hi, I am at the end of the process with Chase. They have my account in Pre-litigation and I have until this weekend to come up with the balance of $24k or else they say either sue or charge off. My question is how many people have been at the same point with Chase and have had them sue? I am 7 months late. I offered them a settlement and they claim I don't qualify. They say they will pass it off to their attorney for review and possible lit. Any suggestions? Thx |
What are the requirements to settle? I settled with them by calling and saying I like to settle and can pay this this amount which was below 50%, we went back and forth meeting in the middle and they sent a letter stating that amount would settle in full.
My point is I didn't have to qualify. Call them and tell them you have this much $ to settle and if you can't work a deal you have others in line that you'll offer your $ to them. You can also tell them to bankruptcy only cost $1,500.00 and you may have to do that instead, not that you will but it may light fire for them to settle if they think their not getting anything.
Good luck.
I am having the same problem I only owe $5k but they are only wi
I am having the same problem I only owe $5k but they are only willing to go to $3k. They say they could sue me at any time.
You are in the perfect place to settle. I made a settlement off
You are in the perfect place to settle. I made a settlement offer to them at about 120 days and didn't make much progress. Once I started to get the "pre-litigation" letters I settled both of mine accounts with them for just over 30%. As a matter of fact, the smaller debt that was in pre-legal was the easiest of them all, and the rep I spoke with was very nice. Just call and offer at least 5% less than your maximum and stick with the same story. They'll ask if you can pay a little more in 3 or 4 payments. It may take a little back and forth but Chase is pretty easy to deal with from my experience.
I settled for 20%, but I think they are higher now. You should
I settled for 20%, but I think they are higher now. You should be able to settle for 30%.
I don't know what they mean by "don't qualify". Did you give them personal financial info? Don't give them anything. Just tell them your story of why you can't pay, but don't give any other information.
I would tell them if they sue, there is nothing to take because you are broke (this is true, correct?). And then offer them 20% lump sum payment. You can then negotiate up to 30% or 35%.