I have a charge-off account with Chase I am desperately wanting to be rid of. I have been making monthly payments (arrangement) for several years now. (Original balance $10,000).
The arrangement included about $2,000 worth of fees (Ouch!), making the total balance owed about $12,000.
My CR shows that my current balance is about $200 only!! (about 1 payment).
I had called Chase Legal dept back in Nov and the very unpleasant man told me I owed the interest that was not showing on my CR. So now apparently I still owe $2,000.
-Do I really owe this interest if it is not showing on my CR?
-Can I dispute these fees if it is not showing on my CR?
-Does this make a case for me in any way? Can I get this account removed from my report somehow due to incorrect reporting or any other reason.
Sounds like they were misreporting the balance in your favor, but that wouldn't be grounds to get the debt removed. Since you aren't using a PFD, I'd suggest settling with them. Offer one last payment of $200, for example, in exchange of full settlement of the account. Be sure to get it in writing of course.
I was able to negotiate a summons yesterday with chase with 0% interest and no fees. I had an almost $4800 balance. $100 a month for 4 years. I talked to a woman in their legal department. They are sending me a payment contract to sign with them.
I am already on a payment arrangement with Chase and have been for several years.
As for offering to settle for the $200, I am afraid my CR notations might say "Settled" and I have also heard settled accounts stay on your CR for 7 years. I have been faithfully paying off this debt for several years and this account is scheduled to fall off my CR in the next year or two and I don't want to restart the clock by making a settlement this late in the game.
Do you think I could write a PFD and use the lower CR balance as leverage?
You won't reset the clock on credit reporting by settling.
My Chase CR status now reads "paid charge off" but apparently I still owe $2,000+ in fees, but that amount is not being reported to the CRAs
Anyone else had experience with this? Any help is much appreciated.