Chase !

Oh I could not agree with you more. Chase was the first card I called when I started having financial difficulties. I did the right thing and called them for help before I was even late on a payment-they told me to call back after I was late. That way I would incur a late fee...you know the routine.

yeah, the nerve to ask for such a portion when you legally owe them 100% of the balance. those scum-bags!

You are right about one thing, they are scum bags.

I can't stand Chase! While I was out of work I called them to make them aware of the situation. Not only did they not offer any help of any kind but the increased my interest rate and increased my minimum payment due by more then 50%! I tried so hard to pay the minimums while I was out but I couldn't. I had every intention of paying them back but I financially can't right now. You would think they would be more helpful to everyone given the state our countries economy is in. We aren't getting bailouts like all the banks etc are

Chase is now offering 75% settlement after 71 days past due on a $25,000 balanace. They jacked up my interest rate and payment minimum after the first late payment, which was only one day late. The have tacked on about $1500 in late fees and interest since then.
This is my last card to settle, so I am waiting this thing out to the end. If anyone has any recent Chase settlements please post them. It really helps to keep me motivated.

Offered 60%, but hell no, I'm waiting for 20. They charge off at 180

I am seriously considering premptive default on my chase acct ( 22K ) because they jacked my rate to 29% " to maintain profitability " ...i am fearful of being sued...what is the likelyhood of that? I have never defaulted on anything.

Chase never offered me any kind of settlement, at 150 days I called and offered them 20%, said no way maybe 40%...I said no way and ended up around 33%...one lump sum.

Chase just offered me 55% then 45% today at 120 days late

Quote:

One of my buddies,
Last payments November 2008.
Chase 1: balance 20,000 settled: 4,200

Chase 2: through a CA balance approx 19,000 settled 4,000

If you are current with Chase or even a month behind, I can get your rate dropped to 6% thru a dmp program, but if you are more than 3 months behind generally you can settle for 38-44% of the balance through a processor I use. They are getting lower settlements due to their large volume of settlements they do. You can always google debt management guys for more information. But as I always say, dmp's are not for everyone, and not everyone should get a debt settlement either. It just depends upon your financial hardship and ability to pay. If you can be disciplined enough to pay it off, by all means I'll be the first to tell you to do so!

~Michael

If Chase agent mentioned about "legal" dept for your account.. they will really make it happen. SO better pay it before they send to their legal department. Mine is 150+ days late but less than 180days and they said to send my account to their legal. 3 cards for $22k was settled to $9k. Still high but I don't want legal proceedings anymore.. I just want to end all things.

Quote:

i am running into the same problem. went through settlement before but have been "good" for about 4 years now and my % is higher now than when i just got out of the program all my 12-17% cards have all gone to 20-28% and they cut the available credit in half. so of course this is messing up my score again and i have been so good about paying on time and keeping everything below the 50% available credit for them to mess up what i got goin on. it almost makes me want to scream! they are worse than thieves.

Just a quick update. My card is now 96 days past due. They are now offering a 55% settlement on a $25,500 balance.They have tacked on about $1500 worth of fees and interest.
First they offered 80%, and for the last two months they have offered 75%. Now they are offering 55%. They call every 4-5 days and are a real pain in the booty to talk to. They have declined my offer 3 times in writing to settle for 35% of the balance.
So, I will patiently wait this out. Good luck to others trying to settle. Just stay patient.I'll be glad when this is over. This is my last card.

it will be well worth the aggervation when it is done. its hard to stay optomistic about it while your goin through it, its a long horrible process but in the end it is so relieving. congrads on working on your last creditor.

Chase offered me Balance Liquidation Program at 6% for 36 or 60 months. Then offered settlement of 50% (I am at 132 days) on a $5,600 balance. I can pay in 4 installments within 3 months. They told me they charge off on the last day of the month after 181 days. This is new to me so I am not sure what that means. But I am wondering if they offered me 50%, should I counter with 35% one lump sum? I have to admit I was surprsied since I didn't even bring it up.

Quote:

Quote: