College student with Credit Card debt
Date: Fri, 07/13/2012 - 18:09
I made my first Credit card with Chase bank and I was ALWAYS on time and I was able to pay EVERYTHING whenever I used it.
So, last six months ago, very unfortunate happen in my life... my beloved girlfriend was in a car accident and passed away... and following 3 months later, my cousin died of a car accident as well... and soon after, I got laid off at my job and I needed to take some time off from school to organize my life back on track.
So, I did but I couldn't get hired due to medical illness suffer... so I couldn't pay my credit card. I did best I could to pay little but it wasn't enough with 32% APR...
Slowly, I was only thinking negatives and suicidal. Then it hit me, I am still young and this will only make me stronger. So I wanted to get my life back!
I was living places to places and I had few money saved up for emergencies...
And I completely forgot about my Credit Card debt of $15,000
Today, I picked up my phone and called Chase bank. They told me that my account is now with AllianceInterstate... I've told them my situations and I am unemployed due to medical reason that I am willing to settle for 20% (which is like $3000) They counter offered me for 50% but no way i'll able to pay that.
In the end, offered 20% and I have setup to pay my balance within a month!
I am wondering, what will happen to me? this is my first time settling any debt and I am complete new to all this. I am thankful that I can get my life back together.
What's my next step? I've asked for a validation, but they said they won't send it after I have paid my $3000. It's weird, because they said I can pay it through local Chase bank or via online as well. I just don't want them to bother me after I've paid my $3000. or in worse case it's a scam? $3000 is all I've got and I am willing to pay but I don't want to get scammed... so is it right for them to say... they are going to send me to documents AFTER i've made my payments??? also out of curiosity, I've called again to confirm that it was settled for 20% and they said it's been approved and notated.
Thank you!
Is it Allied Interstate?? You cannot request a DV over the phon
Is it Allied Interstate??
You cannot request a DV over the phone....send it in writing. And sounds like chase still owns it which means you can verify placement with them over the phone.
ok, so it's not a scam? and how do I go about asking them for a
ok, so it's not a scam? and how do I go about asking them for a statement? like what do I need to say in the writing?
oh also, when I called Chase, they just transferred me over to A
oh also, when I called Chase, they just transferred me over to Allied Interstate.
Chase is forwarding directly to the CA...how can that be a scam?
Chase is forwarding directly to the CA...how can that be a scam??? They own the debt.
You dont get statements....you are in collections. You get demand letters.
Ah thank you so much for that information. So what should I do n
Ah thank you so much for that information. So what should I do next?
Should I pay without receiving document stating of agreed settlement of 20%?
or
Should I send them a letter using the sample document of asking for correct amount in paper?
Thanks in advance
im no pro just an old soul
It sounds like if you can settle for the 3 grand and you have it you will be much better off to go this way, its in collections so you know its on your credit and luckily you don't have a deep history and you are young as you stated I have read under numerous places that even if you get the verbal terms to your debt accepted that without the agreement being in writing that the creditor/collector can just say you made a payment and that you havent satisfied the debt , so I would make sure you get it in writing before you pay them anything ,and they don write it , I would write it myself and send it registered mail, so that you have proof of the agreement and that you have made contact ,with documentation.So there is no hearsay going, I know very little in regards to laws on debt ,but I do know that you simply can not take the word of anyone who is working to recover a debt, including Myself,as we are human and we forget or misunderstand and confuse issues, I would also place a call to the Legal Aid society and ask someone their thoughts on your plan and if they have any insight they are very cheap if not free.I hope this helps and i hope your life gets better , tragedy seems to be nothing we are short on these days,But you still have your dignity.
