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Paying off Chase Credit Cards

Valued Member

Re: Paying off Chase Credit Cards

hahah my thought exactly.  I don't get the question either!! If you OWE than you  PAY.  If its in collection (with the charge off already there) then settle is possible.  Yeah sure someone can try to settle.  who knows it might work...

Message 21 of 31
Senior Contributor

Re: Paying off Chase Credit Cards

Just thought I add lets say you do pay less than you owe, you will have to pay income tax on the amount they charge off because Chase would send you a 1099-C also the charge off would not look good on your credit

Message 22 of 31
Valued Contributor

Re: Paying off Chase Credit Cards

Do you know that a settled account is considered a major derog and will lower your scores?

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 23 of 31
Established Contributor

Re: Paying off Chase Credit Cards


AndySoCal wrote:

Do you know that a settled account is considered a major derog and will lower your scores?


Thats really not important!  I SAY GO FOR IT!  YOU CAN DO IT!!!

Message 24 of 31
New Visitor

Re: Paying off Chase Credit Cards

Thanks to everyone for their feedback.  I have paid of the amount in full.

Message 25 of 31
Regular Contributor

Re: Paying off Chase Credit Cards


CreditRepair4 wrote:

Thanks to everyone for their feedback.  I have paid of the amount in full.


Congrats! You made an excellent decision. You must feel a huge weight lifted from your shoulders now.

RozBuds

Message 26 of 31
Valued Contributor

Re: Paying off Chase Credit Cards


RozBuds wrote:

CreditRepair4 wrote:

Thanks to everyone for their feedback.  I have paid of the amount in full.


Congrats! You made an excellent decision. You must feel a huge weight lifted from your shoulders now.

RozBuds


+1

 

CreditRepair4, I'm proud of you.  Good job!  Smiley Happy

Message 27 of 31
Moderator Emeritus

Re: Paying off Chase Credit Cards


Uborrow-Upay wrote:

RozBuds wrote:

CreditRepair4 wrote:

Thanks to everyone for their feedback.  I have paid of the amount in full.


Congrats! You made an excellent decision. You must feel a huge weight lifted from your shoulders now.

RozBuds


+1

 

CreditRepair4, I'm proud of you.  Good job!  Smiley Happy



+2!  Smiley Tongue

Just puttin' syrup on something, don't make it pancakes.
Message 28 of 31
Valued Member

Re: Paying off Chase Credit Cards

that happed to me.  I got a 1099-C for my Chase settlement.  The account was already charged off for almost 5 years.  I just paid the principle and Chase knocked off the interest. 

Message 29 of 31
Valued Member

Re: Paying off Chase Credit Cards

Perfect.  Less cash in you account but you saved you credit.  Making cash can be quicker then waiting 7 years for bad info on you Credit report to fall off.. very very SMART move. 

Message 30 of 31