Chase settlement

Discussion in 'Credit Talk' started by Kevin1, Jul 31, 2002.

  1. Kevin1

    Kevin1 Member

    has anyone made a settlement with Chase for less than 50% I was offered 36% & later turned down & told they only settle for 50%
     
  2. too_poor

    too_poor Well-Known Member

    Has it been charged off yet - ie, past the 180 days and turned over to an outside collection agency?

    We had a chase card, balance about $10,500 and they settled for approx. 25%. It was still in-house.
     
  3. Kevin1

    Kevin1 Member

    No it's still within 180 days, but they told me after 180 days it will go to PRE CHARGE OFF (still in house as I understand) & that department might go for less than 50%. I have 2 cards both going 180 days, I find it interesting that each card is being handeled by different offices & each office seem to be competing to settle BOTH CARDS
     
  4. cable666

    cable666 Well-Known Member

    I have never seen an major credit card issung bank offer settlement of less than 50%, and I've had multiple credit card account delinquent over 4 years.

    However, you might get a 40% offer from a CA later on after Chase has sold the account. But you have a few months of fighting ahead of you before you get to that point. If you have assets, they will sue before offering 40%.
     
  5. Trade4Livn

    Trade4Livn Well-Known Member

    They offered me 35% pre-chargeoff. In fact, I had numerous offers between 25%-35% from others pre-chargeoff.
     

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