Settling Chase
Date: Sun, 04/04/2010 - 10:22
Also, when I do settle, since it is with the OC:
1. Do I need to have something in writing before I send any money? They say they will send out a ltr but I must make the first payment within 10 days of accepting an offer and due to mail svc, I might not get the ltr in time.
2. Any issues paying by check ( cking acct is not with Chase)? Or is Cashier's Check or MO best (if Chase will accept that form)?
Thank you for your help/advise.
Definitely get something in writing, also request that they remo
Definitely get something in writing, also request that they remove negative remarks on your credit report. I just settled with Chase for 20%, they actually weren't that hard to settle with, much easier than BOFA.
Congrats! That is fabulous. Hope mine is that easy. Pay by Ca
Congrats! That is fabulous. Hope mine is that easy. Pay by Cashiers check or Money Order - much safer.
Quote:Originally Posted by ShazzersDefinitely get something in w
Quote:
Originally Posted by Shazzers Definitely get something in writing, also request that they remove negative remarks on your credit report. I just settled with Chase for 20%, they actually weren't that hard to settle with, much easier than BOFA. |
I will get something in writing, but don't have a fax #. I tried to use Kinko's, but they would not accept it. I thought I might ask them to overnight or priority mail a ltr, have you ever heard of them doing that?
How late were you when you settled at 20%? I have more time till charge off, I'm hoping they might come down from the 35%. Thank you.
Shazzers - If you settle with the OC .... do they normally take
Shazzers -
If you settle with the OC .... do they normally take off the negative marks on the credit? Is that something that one needs to get in writing or do we just ask them for it ? If they say no .... is there anything we can do ?
Quote:Originally Posted by mac123Shazzers - If you settle with
Quote:
Originally Posted by mac123 Shazzers - If you settle with the OC .... do they normally take off the negative marks on the credit? Is that something that one needs to get in writing or do we just ask them for it ? If they say no .... is there anything we can do ? |
Yep, we got it in writing, they faxed over the agreement.
Quote:Originally Posted by mac123Shazzers - If you settle with t
Quote:
Originally Posted by mac123 Shazzers - If you settle with the OC .... do they normally take off the negative marks on the credit? Is that something that one needs to get in writing or do we just ask them for it ? If they say no .... is there anything we can do ? |
hey mac....
They may agree to report it settled in full. But they are not likely to remove the late monthly payment history, which is part of what hurts your score. I tried to get this done and was told it was not going to happen. That seems to be the small pleasure they get out of settling...to know that your score is going to keep their banking buddies safe from you.
Remember when you get it settled make them spread out the paymen
Remember when you get it settled make them spread out the payments from 1st to last 80-90 days. I settled my 18.5 for 6K, I know too high, but to make it worse they scheduled my 1st and last payments within 56 days. Shortly thereafter I settled 24K for 19% and the payments are scheduled 1st to last 86 days in total...4 payments vs. 3...