need some info on wamu chase

[violetuniverse]

hi im new here and need some info. i am two yrs into my bankruptcy and have a wamu credit card w a balance of 1922....since wamu was taken over by chase and i bankrupted on chase....my question is can chase close my account and demand full payment? im trying to rebuild credit.

help much appreciated


nikki

[Flamingo]

A creditor can close an account with you at any time for any reason - that is stated on the paperwork you received when you signed for the card. Your card may or may not be at risk; did you have this card prior to filing and it survived or did you open it after filing? If you opened it after filing and you have been making payments on time, you are probably at less risk than if the card survived your BK for the account to be closed out. I would continue to make more than minimum payments on the card and make them in advance of the due date to show that you are handling your money and credit responsibly and see if you ride this out and get a new card with a new name.

Please note we are in the same situation you are with Chase being included in our filing; we opened a Wamu VISA 6 months after our discharge but we were notified that our account will be changing names and there was no indication that it would be closed or the credit limit decreased. We have been stellar in paying on that card any any other bills we have so hopefully that will work to our advantage and also others in the same boat.

[magyar123]

So far so good for me too. In my 2004 filing I included a Chase card and a BankOne card, BankOne was later taken over by Chase. In 2005 Wamu approved me for a $1500 limit Visa, in 2006 a Mastercard, again with a $1500 limit. In 2007 they increased both limits to $2500. So far they haven't changed anything - even though I closed my checking/savings accounts with them when Chase took over Wamu.
AS I said at the outset - so far so good.

[violetuniverse]

apprecate the help! i called wamu and they said the takeover would be complete in 2010 but who knows.......as for when i got the card, i did so about 2 yrs after bk and have been making on time more the the min since....i have 1000 comming in jan so i sould be ok but it still makes me nervous. chase is a horrible company,,,,they still kept trying to make the assumption that i committed fraud (i was under the influence of zoloft) eventhough, i had accounted for and returned every item purchased on the card to the trustee.

[PaKettle]

I filed against Chase for around $20+k and I got a WAMU $2500 account about 6 months ago. So far Chase has not cancelled it. I sure hope they don't. I wouldn't expect them to ever raise my limit though.

[Bandit]

I filed against Chase for around $20+k and I got a WAMU $2500 account about 6 months ago. So far Chase has not cancelled it. I sure hope they don't. I wouldn't expect them to ever raise my limit though.

that is funny.

I am expecting to hear that I owe Chase one day, since it was WaMu that went into the BK and it was before the BK that Chase took over.
It is funny how these banks operate & you never know.

[Hope2009]

I am planing to file Chapter 13 next month

Onw chase 7K and WAMU 14K in Credit card

Lost 27K in stock from WAMU as the result of WM banruptcy

Now we break even