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Chase Checking Account after Charge Off

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Anonymous
Not applicable

Chase Checking Account after Charge Off

I had a Chse Slate card that was charged off in 2013 with a balance of $1,950. It's showing on my credit report as charged off. I opened a checking account and saving account today at the local branch with no issues at all. Before I go depositing all of my money into these accounts, can Chase just take all of my deposited money without notice to satisfy this debt?

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Chase Checking Account after Charge Off

Hi EnronRocks (GREAT USER NAME LOL)

 

Welcome to the forum Smiley Happy......so.....to answer your question....

 

They CAN and they WILL....

 

My advice to you....open an account with another bank until you settle the Chase account.

 

Gregg

 

 

 

Message 2 of 7
DeeBee78
Valued Contributor

Re: Chase Checking Account after Charge Off


@Anonymous wrote:

I had a Chse Slate card that was charged off in 2013 with a balance of $1,950. It's showing on my credit report as charged off. I opened a checking account and saving account today at the local branch with no issues at all. Before I go depositing all of my money into these accounts, can Chase just take all of my deposited money without notice to satisfy this debt?


Look up Lender's Right To Settle. It basically means they can harvest funds out of any account you have with them to settle owed debts. 

Message 3 of 7
gdale6
Moderator Emeritus

Re: Chase Checking Account after Charge Off

They have right of set off and they can exercise it if they wish
Message 4 of 7
stellar
Established Contributor

Re: Chase Checking Account after Charge Off

Do they have that right forever? Or only within SOL? Or only until they write it off for tax purposes?

Message 5 of 7
Anonymous
Not applicable

Re: Chase Checking Account after Charge Off

I just called and settled it with them. They offered the most ridiculously low settlement I've ever seen, granted I don't have much experience. I even made sure that hebsrttlement agreement stated they will never touch and deposits in an account with Chase for the debt after paid and agreeing to the settlement.
Message 6 of 7
CatOfSpades
Frequent Contributor

Re: Chase Checking Account after Charge Off


@Anonymous wrote:
I just called and settled it with them. They offered the most ridiculously low settlement I've ever seen, granted I don't have much experience. I even made sure that hebsrttlement agreement stated they will never touch and deposits in an account with Chase for the debt after paid and agreeing to the settlement.

Good deal! Glad you got it taken care of! Smiley Happy

♠Queen of Spades♠
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