@DBDPharmD wrote:Was that directly on their site? We owe almost the same amounts for 2 cards that we stopped paying when COVID killed my job but when I login it says I have to call some agency to take care of it.
Yes it was on their site. I got a text from them first that said to sign in and check out my options. There was no agency involved.
@Chickenman71 wrote:Chase settled for 10% for me as well. I seen I had an offer online but I called and spoke to a representative and they told me if I could pay today that they would settle for 10%. Can't beat that!!
I had to pay each card with up to two monthly payments. I paid the first card with one payment and split the second card into two payments.
@FISHintheTank wrote:That's great to hear. I was in the same situations like you guys. BoA sued me and trying to place a judgment. It was $4k back in 2017. I was laying low and didn't answer the county judge calling for hearing. Ended up losing. I founded out that BoA can't place a judgment on my case in TX, but they kept reporting me over limits and that hurt my credit scores so badly. I finally settled for less at $2.1k. Did the same to Macy's(Citi) and Discover. I still owe Chase, not sure what to do. I still have my checking account with them and it shown the credit card account also. I was offered to pay $650 for 3k owed. The sent a secured letter saying that they won't sue me because the debt was so old, but they recommended me to pay. 2 more years until it removed. Should I wait until it drops off and pay them? I want to do business again with them in the future.
I don't know how long Chase holds a grudge against someone who settled a charge off for less. I had a BOA charge off that I never settled back in 2008. It's been off my report for seven years. I've had my checking account with them for decades, since before they were BOA, even before they were NationsBank, and they've never let me get a card since. They even rejected me for a secure card. From a pure credit score standpoint, I don't see a reason to pay Chase unless the charge off is being updated with a balance every month and it's hurting you from the standpoint of having a maxed-out card. And lenders that look at your report will see unsettled debt which may get in the way of a mortgage or other loan. I've recently settled all my charge-offs, but none of them have reported the change yet. I'm interested in seeing what effect it has on my scores.
I understand I screwed up with BOA, but they haven't been perfect either. They once mailed me a new debit card for no reason. The one I had wasn't close to expiring. I happened to be out of town and someone stole the new card and started using it. They sent me an active card!. Getting my money back was a nightmare. I opened an investment account at Merrill and before I even had a chance to fund it their fraud department blocked the account. After a dozen calls, I finally gave up and opened an account somewhere else. That stupid Merrill account is still on my BOA homepage. It's been blocked and never funded for nine months! So, turnabout is fair play. I'm in the process of transitioning to a credit union. BOA won't give me a credit card, I won't give them my money to play with while they pay me a hundredth of a percent or whatever. Sorry, a bit off topic but I suddenly felt the need to vent, haha.
