Help with 2 Chase Charge Offs

Discussion in 'Credit Talk' started by brinked, Apr 18, 2010.

  1. brinked

    brinked New Member

    Hello, new member here, was very impressed with the users of the community so I decided to register.

    Here is my situation, when I was 21 my financial situation was way different than it is now. I had 2 credit cards, 1 from providian and 1 from wamu I believe. I had to use them to repair my car to get to work and could not afford to pay them off after a while so I let them both default and they were both bought by chase and since then, they are reflecting as charge offs / transferred

    2 Years ago I got a job and started making good money (over 500k per year). I made it my duty to pay of all my collections and clean up my credit as much as possible. I found the debt owner of 1 of the chase accounts and agreed to pay them $1200 to clear the debt which was a $2k debt as reported with chase after all the ridiculous fees they impose. However this charge off is still showing on my credit report for TU and Experian.

    The other charge off is for $3500 and LR credit tried to sue me for that, about 3 years ago I hired an attorney to basically deal with it so I never had to go to court.

    I want these both deleted, I mailed the 3 CB's to have they verify the debt, but should I be contacting chase? I have 2 checking accounts with chase with well over a million dollars, surely they dont want to lose my business, should I say if they will not reach an agreement with me I will transfer my funds to another bank?

    The debt collection company said they will have the charge off deleted if I paid them which was false, all they did was send me a receipt which has done nothing for me.

    Does anyone have any advice on how I can get these 2 deleted? Its a shame, I cant even get approved for a dept store card and my credit is not thatbad (668), its these charge offs that do the most damage
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    As you've discovered, removing a collection doesn't necessarily mean the OC will remove the charge-off. It's still a charge-off to them, so they have every right to keep reporting it as such to the CRAs.

    Some people have had success contacting the OC after they've settled the debt and requesting that they stop reporting the charge-off. Leveraging your banking relationship with them should only help your cause.

    Also, what did your attorney do for you regarding the other $3,500 charge off? Can you give us some more information?
  3. brinked

    brinked New Member

    Thanks Joshua,

    I just got off the phone with Chase's department that deals with old accounts like mine. The lady said there was no way they can remove the charge off, she made it seem like it was just not possible which I think is BS.

    I told her I have 2 chase accounts and have over 500k in my accounts and I would like to qualify for a mortgage with chase very soon but to do this, I need these charge offs removed. I then asked for a supervisor and she said one would call me within 48 hours.

    As far as my attorney, I think he pretty much just kept filing motions and asking for proof of debt ownership. He didnt tell me much more.
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Keep need to get the right person involved who actually has the authority to do something. Please come back and let us know how it plays out after you speak with the manager.

    Oh, and you'll likely need to work directly with the CA for the other unresolved collection to try and negotiate payment and removal of the negative mark from your reports. Since it sounds like the debt has been sold, Chase won't be able to do anything for you on that one.
  5. Hedwig

    Hedwig Well-Known Member

    You may have to go to the executive level before you get any help. But like Joshua said, keep pushing.
  6. ChaseisBad

    ChaseisBad New Member

    I don't know if this will work but I think if you send a copy of the receipt to the credit bureaus it forces Chase Bank to respond within thirty days or the blemish is removed???

    Just explain in the letter to the credit bureau that you were promised the debt would be removed from your credit history upon payment, then it forces Chase bank to have to either confirm, deny, or ignore,

    Denying could be equivalent to them lying and they may not want to do that, and confirming or ignoring I think helps you???
  7. Hedwig

    Hedwig Well-Known Member

    The credit bureau doesn't have to (and won't) accept anything from you. And if Chase verifies it (which they probably would), they aren't lying. The account was charged off. The amounts that were paid were paid to a collection agency. That acccount would properly report with a zero balance as a paid collection account.

    The original creditor can still report the charge off. That is fact. The account was charged off. What the original poster needs to do (and is trying to do) is to get someone at Chase to remove it as a gesture of goodwill (and because he has lots of money with them).

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