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Valued Member
Posts: 39
Registered: ‎03-13-2011
0

CHASE charge-off not showing interest owed on CR

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.

 

Please help!!

 


Starting Score: EQ 618
Current Score: EQ 653, TU 674, EX 633
Goal Score: 720


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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: CHASE charge-off not showing interest owed on CR

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.

Established Member
Posts: 26
Registered: ‎02-06-2011
0

Re: CHASE charge-off not showing interest owed on CR

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.

Valued Member
Posts: 39
Registered: ‎03-13-2011
0

Re: CHASE charge-off not showing interest owed on CR

Hi Sarabear,

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?


Starting Score: EQ 618
Current Score: EQ 653, TU 674, EX 633
Goal Score: 720


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Valued Contributor
Posts: 2,487
Registered: ‎02-18-2010
0

Re: CHASE charge-off not showing interest owed on CR

You won't reset the clock on credit reporting by settling.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
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Valued Member
Posts: 39
Registered: ‎03-13-2011
0

Re: CHASE charge-off not showing interest owed on CR

UPDATE:

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.


Starting Score: EQ 618
Current Score: EQ 653, TU 674, EX 633
Goal Score: 720


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