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What can I expect from Chase????

Date: Mon, 03/02/2009 - 04:58

Submitted by anonymous
on Mon, 03/02/2009 - 04:58

Posts: 202330 Credits: [Donate]

Total Replies: 2


Hi thanks for taking time to read this post.
I have about $9200 in credit card debt with Chase. I am in a vicious cycle with them due to late payments and just not having enough to cover the minimum due every month due to decreased income. I have already looked into debt management and it will not help my situation.

I am considering borrowing money from a friend in exchange for doing some home repairs/remodeling. Can anyone please tell me what I can expect from Chase as far as what they will settle for? I have read 50% from some and 20% from others, which is a pretty big difference. From reading many posts I have learned that the closer you are to charge off the better deal you may get, but is there anything else that might determine what Chase will offer me? When are they most likely to send my account to a collection agency?

Thanks so much, I appreciate the advice.
Mike


Hi mike88,

Welcome to the Community!

There is no way to predict what a settlement would be. They are quite variable from case to case. It depends on a lot of factors, notably, how long you've been a customer, who is handling your account, timing of settlement with quarterly reporting, handing account off to an agency (or another one), etc., etc, that could directly influence the settlement process.

That's why the numbers are so different.

For Debt Management, you would need to be on time with your payments.

Hope this helps,

chrys


lrhall41

Submitted by Chrys Henderson on Mon, 03/02/2009 - 19:46

( Posts: 2538 | Credits: )