Chase Bank Charge-off questions PLZ HELP!!

[takethat]

Hello everyone,

This is my first post! I have been doing research for several months now on credit repair and my main problem is a Charge-off from Chase.

HISTORY:

Basically I went through a tough time back in 2006 and signed up with a settlement company called Credit Solutions. (bad taste in mouth) Beware, this company is run by the Devil himself and all his little minions.

Anyway, they advised me not to pay my creditors and close several of my accounts. I paid them about $1,500 in fees before I realized it was a scam. I have reported this Co. to the BBB and Attorney General of Texas for a refund, to no avail, other than sympathy. Now I am left with this Charge-off and I have been making monthly payments to Chase since then.

I would like to get this account deleted from my report.

I called Chase (August 2010) and of finally spoke to someone in the Attorney's Office at JP Morgan Chase. He said no way could I delete the status off my CR, and even fought with me about sending a payment history/ receipt. He finally gave me a list of all payments I have made since the charge-off and gave my remaining balance due as $4,137. On my CR it states my balance (as of 8/10) was $1,480. I ask him why the discrepancy and he says the CR does not show fees.

At this time I was also trying to find out if who I was paying was the OC or a CA. He did not give a straight answer, but made it seem like it was the OC "Legal Dept"

MY QUESTIONS:

1) Should I send a validation letter if the address I am making payments to matches that of Chase?

2) Why does my CR show balance of $260 (as of today) and the bank says I owe them thousands? Can I just pay the balance showing in my CR and dispuute the fees?

3) Should I go for a pay-for delete or wait to pay it off then write a GW?

4) There are no judgements showing on my CR but I was served papers back in 2007, which I responded to and signed and started making automatic draft payments each month. Are they pulling my leg? I don't know what to believe anymore?

Thanks!

[llecs]

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

Who are you directly making payments to now? Who is your payment made out to?

You can't send a debt validation letter to Chase because they are an OC.

It could be that the Chase rep really didn't know what he was talking about or gave you some bad info. Whenever I talk to an OC on the phone, I have to assume it is wrong. If they send it in writing, I have to assume that it is correct. Did the statements and docs they gave you match with the CR reporting? I've seen plenty of Chase COs in these forums, but never have I seen an instance where interest was omitted.

If you are on a payment agreement DIRECTLY with Chase, then stick with it. However, if you have the $$$$ set aside to PIF based on the figures they gave you, then send PFDs all the while making payments as scheduled.

Not every court will report a judgment to your CR. If sued and if they came back weeks, months, years later and served you again for a garnishment on the judgment then the monthly debits may be legit. You can look up the court records to confirm.

[takethat]

Hi IIecs,

Thank you for your reply.

I am currently making monthly payments via auto-draft from my bank account to "Chase." When the arrangement was first made back in 2007, I was given the option of either mailing my payments (They gave me a stack of payment stubs, years-worth, for the duration of the arrangement) or auto-debit. I went ahead and did auto-debit so as not to forget a payment and increase my chances of getting served again.

My bank statements read CHASE LITPAY

The payment stubs say CHASE BANK USA, N.A. PO BOX 15922 WILMINGTON, DE 19850-5922

The legal document I was originally served with say Plaintiff is Chase Bank, USA, N.A. Corp.

All known correspondence has been with JP Morgan Chase Legal Dept. 300 S. Grand Ave, 4th Floor, Los Angeles, CA 90071 (I am also able to mail payments to this address)

The "Stipulation for Entry of Judgement" claims I owe 10% interest plus an additional filing fee, totaling a whopping $3,000.

On my CR there is no CA listed.

My CR lists Chase PO Box 15298 Wilmington, DE (slightly different address)

also that I have been past-due over 180 days since 2006

I am also just now noticing that the receipt of payments I had to pull teeth to get (from JP Morgan Chase Legal Dep, from the guy I mentioned before) says date of stipulation was Sept 2007, when it was actually something like Sept 2006. HHHmmmm I will have to clarify that it seems.

My big question is how much do I really owe, can I fight the fees, and how can I go about asking for a possible delete... maybe GW?

Thanks!

[takethat]

Ok I figured out something....

The original payment arrangement was made in Nov 2006. In Sept. 2007 I called to ask for a lower monthly payment and they re-wrote my agreement. The statement given to me by the rep only includes payments since 9/07.

Also, the fee/interest amounts are not showing on my CR, only the high balance amount that I ended up with at time of closing, not including fees/interest post-closing.