Reply
New Visitor
CreditRepair4
Posts: 5
Registered: ‎06-04-2011
0

Paying off Chase Credit Cards

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.

Frequent Contributor
mmduluth
Posts: 320
Registered: ‎05-17-2011
0

Re: Paying off Chase Credit Cards

What do you mean "settle" with them? Are they in collections right now or your just carrying a balance on them?

EQ FICO - 718 - 01/10/2012 EX FICO - 732 - 04/28/2012 (AMEX)

Cap1 Platinum (1000) Macy’s (2000) Chase Freedom (3000) Kohls (600) Best Buy (2700) Amex BCE (8200) Chase Sapphire (5000) CarCare1 (1600) Discover IT (4000)
New Visitor
CreditRepair4
Posts: 5
Registered: ‎06-04-2011
0

Re: Paying off Chase Credit Cards

I am carrying the 10k balance with them and want to pay it off with my bonus.

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Paying off Chase Credit Cards

Accounts the are not in arrears cannot be settled.  And, if they do become charged-off, it's no guarantee the creditor or collection agency will take a settlement. 

New Visitor
CreditRepair4
Posts: 5
Registered: ‎06-04-2011
0

Re: Paying off Chase Credit Cards

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

Valued Contributor
Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
0

Re: Paying off Chase Credit Cards

Oh.  Then why not **bleep** them all the way, if that's your intention?  File for BK, and just pay the lawyer.

 

Jeez. 

 

Sorry if this seems rude, but you say you owe the money, and you have the resources to repay them.  Please just do that.

 

 

 

 

 

 

Frequent Contributor
drsmith
Posts: 389
Registered: ‎11-27-2010
0

Re: Paying off Chase Credit Cards

I'm not understanding your question.

 

If the accounts are still open, then no. You can't not pay them money you owe.


Starting Score: 703
Current Score: EQ 773 4/11/14
Goal Score: 800


Take the FICO Fitness Challenge
Frequent Contributor
JagerBombs89
Posts: 406
Registered: ‎09-13-2009
0

Re: Paying off Chase Credit Cards

Go ahead and give it a try!  They might accept it!!!  And all it is going to cost you is a major blow to your credit score, but who really needs good credit these days?!

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Paying off Chase Credit Cards


CreditRepair4 wrote:

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



They may offer some sort of credit help. The day you call them, they're going to start  soft pulliing your credit report very often.   Honestly, they're not going to settle with you.  They'd rather charge your account off and sell it to a collection agency.  The CA may settle with you after so many months of them having your account.  But if they determine you're capable of paying them they may sue. 

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Paying off Chase Credit Cards


JagerBombs89 wrote:

Go ahead and give it a try!  They might accept it!!!  And all it is going to cost you is a major blow to your credit score, but who really needs good credit these days?!



Ask someone without a job that question.  Employers are doing credit checks now more than ever.  And if one need car insurance, a low score affects their premium.  A low score can cost you money.  A high score can save you money in more ways than one realize. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}