Paying off Chase Credit Cards

[armywifey85]

If you got the money then pay your debt!  Your gonna need good credit, when this economy takes a turn for the worse, which is coming real fast. You will need good credit for a job, and renting a place.

[drsmith]

---

@armywifey85 wrote:

when this economy takes a turn for the worse, which is coming real fast.

---

I wish I had a crystal ball

[JonStur]

I feel that if someone is uneducated and asking a question they don't deserve to be belittled. We all have to start somewhere. In the future they may be hesitant to seek assistance that might actually benefit if they feel they will just be chastised. That being said, CR4, no don't settle, just pay what you owe and I'd you don't want their services any longer cancel them. If as your name implies you are building your credit then now is not the time to stumble.

[DI]

---

@JonStur wrote:
I feel that if someone is uneducated and asking a question they don't deserve to be belittled. We all have to start somewhere. In the future they may be hesitant to seek assistance that might actually benefit if they feel they will just be chastised. That being said, CR4, no don't settle, just pay what you owe and I'd you don't want their services any longer cancel them. If as your name implies you are building your credit then now is not the time to stumble.

---

+1

[Wolf3]

---

@Anonymous wrote:

Is it worth calling to see if they would settle and close out my cards for less than the 10k I owe?

---

NO!.

[DI]

---

@Wolf3 wrote:

---

@Anonymous wrote:

Is it worth calling to see if they would settle and close out my cards for less than the 10k I owe?

---

NO!.

---

Why not, Wolf3?  They can only say  yes or no. 

[Anonymous]

---

@Anonymous wrote:

I have 2 Chase Credit Cards that have a combined $10,000 balance on them.  I am getting a big bonus and was wondering how much would it take to pay them off? Do you think I could settle with Chase for less than the 10k?  Should I call the back door #?

Thanks.

---

Hi CreditRepair4, and welcome to the FICO Forums! Congratulations on your bonus. That's always a welcome addition! 

Are your Chase accounts in good standing currently? Are they open, or closed? Are you current on  your other obligations? Is your employment situation stable (or as stable as any job is these days)?

Settling a debt for less than the full amount owed would, indeed, be a major blow to your credit. It'd hurt as much as a charge-off would. And, it would make it very difficult for you to obtain new credit for quite a while. Unless you're currently delinquent, on a reduced payment plan, the card is already closed, with lates, etc..., lenders aren't likely to accept less than the full payment due. They already know you can pay, so they'll hold you to that obligation. If you can pay, you should do so in full. With a steady income (job), there are much more effective, and less harmful ways of killing debt, than settling.

[Anonymous]

CreditRepair4,

Welcome!

In addition, to LilMirth's questions, can you also tell us what the CL and balance is on each Chase card, and what you're anticipating your bonus to be.

And congrats on that bonus - very wise to use it paying down debt!

[cdtotten]

I'm quite shocked to see members of this community encouraging the OP to not pay a legitimate debt. He ran up credit card debt, and now wants to settle for less because he owes a lot... it does not make sense to encourage this behavior.

[DI]

---

@cdtotten wrote:

I'm quite shocked to see members of this community encouraging the OP to not pay a legitimate debt. He ran up credit card debt, and now wants to settle for less because he owes a lot... it does not make sense to encourage this behavior.

---

What are you reading?  I don't see anyone encouraging the OP to not pay a legitimate debt.