Chase is playing games...

Since you told them you would need to borrow money to pay them, they are probably going to try and get as much as they can. Negotiate with them in writing.

Get it in writing in advance they set me up in a program and after the first payment (They Scheduled) kicked me out of the program.

Quote:

Thank you SO much!

Chase is still busy playing games, I don't understand it!

They left a message for me to call them back today, which I did. I was hoping that they would come back to the terms they originally offered me of 30% (yesterday!). My first call I got a recording that said "thank you for returning our call" and disconnected. I called back and spoke with another rep. who told me they didn't call me at all today. Then she checked with her supervisor who said they didn't call me today. Yea, OK.

Then she said the only offer on the table is 40%. I explained that I was on the phone for over an hour yesterday and that Chase offered me 30%. I told them that after that phone call, I talked to my family (who is loaning me money) and they would only offer me 25%. The rep said they would never approve that, because it's even lower than the 30% that they offered me and can't I do a hardship program. So, I just continued to explain - unemployed, cashed out 401K, no income, etc. She didn't ask me to call back, but did say one account will charge off on Dec. 31.

I guess I'll just have to wait. But why leave me messages and then tell me you didn't call me?

Why charge and not pay??? Who is playing a game here ???

Who said I charged & didn't pay? Is that what you say to someone when they lose their job, and cash out their 401K retirement savings to survive? Borrowing from family for settlement & Chapt. 7 BK (which I qualify for) are the options available for people like me. Negotiating an amount that I can afford to borrow is not playing games. Offering me a settlement, then taking it back - calling and then saying you didn't call - is. Maybe you're amused & entertained by your own posts, and enjoy kicking someone while they're down. Either way, Happy Holidays!

Wait til it goes to collections. They will take your settlement offer, and for less. I feel your frustraition. In this economy, it would be nice if people could be more understanding of others situations, and offer a little help. Just remember that karma will get them.

Thank you!

Just keep calling back. I just settled 3 accts w/Chase @30%. All 3 were charging off 12/31. I called 3 times in the same day and got 3 different offers. It just depends on who you talk to. The last lady was very sincere and understanding; she started @40%, we had a long conversation and she eventually felt sorry for me and offered the 30%. Total balances were $26K.

Update!

Juniper/Barclay's continues to tell us they will send us a fax that has removed the above statement about a charge-off in our settlement letter. We've been calling them every day for that fax for the last 2 weeks. So, it's still not officially settled.

Chase declined all of our settlement offers, and countered with 40% for all 4 cards. Until today! I settled 1 of my Chase cards for 23%, and they said they mailed out my settlement letter, and I should receive it by tomorrow. The rep did say that of the remaining 3 accounts - they are still offering 40% for 2 of them - and the last one is "not eligible for settlement", whatever that means. It was eligible for 40% last week, so who knows.

BOA sent me a letter disguised as a Christmas card yesterday, asking me to call by the 15th. This letter has a new telephone number and they're closed today, so hopefully I'll have news about BOA when I call tomorrow.

This is what I have remaining:

Settled/Pending
Discover #1 - Hardship program
Discover #2 - Hardship program
Chase #1 - 23% Settlement Pending
Juniper/Barclay's - 30% settlement pending

Not Settled Yet
BOA #1 - 40% Offer (Not settled yet)
BOA #2 - 40% Offer (Not settled yet)
BOA #3 - 40% Offer (Not settled yet)
Chase #2 - 40% settlement offer (Not settled yet)
Chase #3 - 40% settlement offer (Not settled yet)
Chase #4 - Not eligible for settlement
Citibank #1 - 60% Offer (Not settled yet)
Citibank #2 - 65% Offer (Not settled yet)
GE Money #1 - 60% Offer (Not settled yet)
GE Money #2 - 50% Offer (Not settled yet)

I talked to BOA this morning, and they offered 32% on $32,000. I will call back and offer less, I'm hoping for 15% - 20%.

Settled/Pending
Discover #1 - Hardship Program
Discover #2 - Hardship Program
Chase #1 - 23% Settlement Pending
Juniper/Barclay's - 30% Settlement Pending

Not Settled Yet
BOA #1 - 30% Offer (Not settled yet)
BOA #2 - 30% Offer (Not settled yet)
BOA #3 - 30% Offer (Not settled yet)
Chase #2 - 40% Offer (Not settled yet)
Chase #3 - 40% Offer (Not settled yet)
Chase #4 - 40% Offer (Not settled yet)
Citibank #1 - 60% Offer (Not settled yet)
Citibank #2 - 65% Offer (Not settled yet)
GE Money #1 - 60% Offer (Not settled yet)
GE Money #2 - 50% Offer (Not settled yet)

Now, that was helpful....NOT!

Keep me posted on how you do with Citibank. They declined my 30% offer on $11,000 balance so far.

the guest was deleted.

Update!

I haven't received my settlement letter from Chase for the one account that they settled. They told me on Sunday that I would receive it on Monday. Well, it still hasn't arrived so I called them today. The rep told me the 3 other cards have not been settled, but asked if I could hold while she asked a supervisor to approve the rest of the cards for 23% (the same amount that I settled the 1st card for). I did and I got approved!!!

4 cards with Chase are pending settlement at 23%. The only problem is that my husband has not received his Christmas bonus yet, and we may not be able to send payment for all 4. I will call back once I receive the letters (which they said should be on Friday) and ask for 3 payments.

Settled/Pending Settlement:
Chase #1 - 23% Pending Settlement
Chase #2 - 23% Pending Settlement
Chase #3 - 23% Pending Settlement
Chase #4 - 23% Pending Settlement
Juniper/Barclay's - 30% Pending Settlement
Discover #1 - Hardship program
Discover #2 - Hardship program

Not Settled:
BOA #1 - 32% Offered
BOA #2 - 32% Offered
BOA #3 - 32% Offered
Citibank #1 - 60% Offered
Citibank #2 - 65% Offered
GE Money #1 - 60% Offered
GE Money #2 - 60% Offered

You are doing great!

I'm going to talk to Chase tomorrow. They called and offered me 70% a couple weeks ago. Then today I got a BLP offer in the mail...they might be getting a bit softer. Very nice that you could get 23% from them. I was going to start around 30 but now I think I will start a bit lower. :)

Thanks for the updates.

good job settling on your chase accounts!

Thank you Snickers & princess22, I'm very happy about it and the best part is that you can do it yourself!!! I've settled 5 cards so far by myself!

The reps at Chase have always told me that if you settle 1 card at a certain %, you are eligible to settle the rest at the same %. I started negotiating all of my 15 cards at 10%, and I just round up the number to the next $100. This was very surprising because I've always read that the lower balances are hardest to settle, and the 1st card to settle was my lowest balance which was inflated to around $1600.

I was very nervous about Chase because I've read often that they do sue, and I did have 4 cards with them. It does depend on who you talk to, and I think the timing helped because they were settled on the 15th. All negotiations before the 15th were very disappointing and the more we talked to the CC's, we felt we were closer to filing BK 7. There's less than 10 days until Christmas and I think they are more eager to settle. The other CC's have not been so willing to settle so low, but they are not as far past due. The only ones that are close to being charged off are my 3 BOA's, and I'm going to be working on them in the next week or 2.

One Chase rep mentioned about something about "having more time" and that's what I used to motivate me to continue to try to negotiate. I read many threads on here and in other forums, and most were getting 30-35%. Waiting around for your accounts to age and enduring the telephone ringing for 6 months is not easy, but if you are honest and stick to your plan, you really can do this yourself!

One other thing that I forgot to mention, I staggered my cards for non-payment. I stopped paying some in June, more in July & the rest in August & September. The first card that I settled with Chase charges off at the end of this month, so I think the closer to charge off, the better the settlement. The other card is at about 150 days, and the other 2 are only about 75 days. I do think that because the holidays are approaching, it was a big help!

sugar sugar,

i agree, chase was really easy to settle b/c they do settle all cards at the same percentage regardless of how far each card is delinquent. I got all my settlement letters in the mail within a few days. good luck with your boa CC! they settled at 25% for me last week and the manager I talked to was very nice and professional, as well as we were just chit-chatting too about the holidays and the weather--how they were in Orange County and the weather is nice..etc. She promptly faxed the settlement letter to me after she rec'd it (I think it was the next day) b/c the settlement paperwork has to get approved by her higher ups then the letter is generated. Keep us posted on your BOA, as well as on your other accts! :)

Update!

I received my 3 other settlement letters in the mail today, with one problem. The due date on the letters was for yesterday, but I received them today! So, I called them up and they are going to fax me new letters, with the new payment due date of Monday. I also requested and was approved for 3 payments on 2 of the largest balances. I'm supposed to receive the faxes on Sunday night and will update when I get them.

On a lighter note, I paid the settlement amount on my first card with Chase today. It is such a great feeling! I know that my settlement journey isn't over yet, but I know we will be debt free in early 2010!!!

Bumping for some friends...

As an update, I received all my faxes in a timely manner and paid 2 cards already in 1 lump sum, and the first installment of the other 2 cards. Chase is very friendly to me now, and they've been asking me to open an account at their bank! I just say no thank you! :)