Chase settlement
Date: Fri, 07/17/2009 - 11:27
Yesterday Chase contacted me on one account and told me I qualify for a debt recovery care program. I would voluntarily close my account and then Chase and I would agree upon a monthly payment. We owe $6000 and the current monthly payment is $160, but I stated I could pay $80/monthly. Apparently I would face no further late fee's/interest/etc.
I asked them about the Form 1099 or anything going to my taxes, and they said that would not happen.
Anything know about anything like this? It seems like a very good program.
But they are leaving the original debt amount the same? I'd sug
But they are leaving the original debt amount the same? I'd suggest working a negotiation in there.
Assist Program
I have a Chase in my name and my husbands. We are both on the Assist program. All it is is they lowered my APR to 8% (which is was several years ago) and I have a fixed monthly payment of $60.00. I think it is pretty decent to help you reduce your debt. I was owing about $5000 when I started it and now about 8 months later I owe $3500. I did have to close my account, but was okay with that because I really didn't need to use it anymore. I'm not sure how the debt went down so quickly, but it seems to be working out okay for now.
Yes, many banks are offering these types of programs due to the
Yes, many banks are offering these types of programs due to the economy. It is better, but you need to understand the new terms in full. Many of these programs will still keep you in debt for a long time.
If you pay $80 a month on $6000 with no interest, it will still take you 75 months to rid yourself of this debt.
