Debt Negotiating with a Chase Credit Card

I have a chase credit card that I owe 10,000 on. I received a letter from an attorney which I called and they said if I pay a lump sum they would take 20% off or I would have to make payments on the whole amount.
What should I do? Will they reduce more than 20%?

14 Answers

I would call 877-322-6810. They settled my Chase card for less than 35 cents on the dollar. 


Donovan is right.  The last two or three years the job market has been terrible.  The few jobs recently are minimum wage type jobs with no long term future.  My idea is to not borrow any more debt, period, except to buy a house some day.


Credit card debt is one of the main problems facing people all around the country, and the Chase credit card is one of the most commonly used. The high interest rates, coupled with diminishing wealth during the economy downturn, debt is rising at breakneck speed. Today, people owe more on their credit cards because they are using those cards to cover things that their paychecks no longer can.
 


I would call 866-833-6398. They can settle your debt for as little as 25 cents on the dollar. 


I've settled 3 cards with Chase directly at 30% of balance and they gave me 3 months to pay in installments.

 


If they have only been assigned, validation won\'t be a problem. Generally, when a CA is acting on behalf of the OC, the amount they\'re offering is what the OC is willing to accept. The CA takes your offer to their client for approval. If Chase isn\'t willing to accept less, that may be the best offer you get at this point.

Can you afford to pay the $8K? If not, maybe you should set up an affordable payment plan and if, in the future, you\'re able to pay a lump sum, try to negotiate a settlement on your balance at that point.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

They sent me a copy of the Chase bill...

Opening date 11/27/08 - 12/28/08
Payment due date 01/20/09


The letter states they sent me a letter March 4 (which I didn\'t receive) and since they haven\'t heard from me they are drafted a lawsuit which they plan to file in the near future.
It\'s states I can avoid a lawsuit by working out the matter but they will only offer 20% discount.

I can have them prove the debt is mine but want to avoid them filing anything and me having to hire an attorney if possible.


If Chase has assigned it, they likely won't discuss it with you while BFA has it. How far past due are you?

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

Anna...

To answer your question yes the attorney is calling to collect payment on behalf of Chase. The letter states that it's been assigned to Bluebonnet Financial Assets...I guess chase stills owns it? Problem is they will not negociate the 20%. Can I call Chase or will they even discuss with me? I just want to make sure this is the best deal I can get.


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