Settling with Chase

I owe chase about $20,000 and haven\'t paid them in 5 months. I got a letter from them so I called to try to settle and they said the account doesn\'t qualify for a settlement. I\'m unemployed and don\'t know what to do. They asked me for a detailed letter explaining my hardship. Should I do it or will it be a waste of time? I was told it will be charged off next month. Any help is appreciated!!!

4 Answers

Make sure you explain your condition accurately. If required, enclose documents that prove that you're really unemployed. Get a job soon. Otherwise the problem will aggravate. 


My previous posters are right. Send them a financial hardship letter. I hope they will understand your financial condition. You may try to get help from your friends and family members.


Yes, Bonbon is correct! When you're unemployed, you should make sure you write a financial hardship letter that can determine the reasons that are barring you from making the timely debt payments. Tell them the exact reason so that they can easily alter the terms and conditions on the debt account.


You can send them a letter mentioning your financial hardship in details. If they are convinced by your hardship, you may be able to settle your debts with them. In case, this does not happen, you can contact the local debt relief companies and take their assistance in settling your debts with Chase.


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