Any luck with HSBC or Chase

[feemama]

Has anyone defaulted on an HSBC or Chase card and had them actually help you by setting up a payment plan or lowering the interest rate? Capital one has been very helpful by lowering interest and setting up a payment plan, but I have not tried those two yet. Anyone know????? thanks

[klandsb]

I have a Chase card with a $12,000 balance. Last week they called and stated that if I paid $8000 they would forgive the balance and if I couldnt do that make a reasonable offer and they would consider it... Needless to say I dont have $8000 or anything close to that... I will be filing BK soon seeing as that is only 1 of many credit cards bills I have..

[catleg]

The best I ever got from Chase was paying off a card over 5 years at 0%.
I don't think they've ever sent me a debt settlement offer, though I called once and they talked about a 50% payoff, which was still no deal for me.

[StartingOver08]

About a year before I filed BK, I set up a hardship payment plan with Chase (I was still thinking I could pay everything off without filing! )

The Chase payment plan was 4% (either 2% or 4%, I forget now because I had a couple of plans with different creditors). It was for 5 yrs. Call their hardship department if that is what you want to do. They may have better programs now since it has been 2 yrs since I worked out the original agreement with them (Sept 2007).

[wickedlate]

HSBC Sent me to the lawyers... I have to wait till after the new year to file so I'm paying the lawyer until November then filing in February so the lawyer don't file suit before I can pull the trigger.

[frmrdwn]

Has anyone defaulted on an HSBC or Chase card and had them actually help you by setting up a payment plan or lowering the interest rate? Capital one has been very helpful by lowering interest and setting up a payment plan, but I have not tried those two yet. Anyone know????? thanks

I hope there is a special place in hell for Chase execs. A few months ago I owed 13,000 at about 6% and had never been late or missed a payment. Without warning, they jacked my interest rate to 29.99%, decreased my credit line, assessed fees and so on- I really needed help. Customer service billing reps refused to negotiate, repeating the same canned lines. All refused to put me through to a manager saying that my situation was not serious enough to warrant talking to management as I was current on my account. They were incredibly curt and rude.

Four days after my first missed payment, I received seven phone calls from their collection deptartment.

Chase is willing to negotiate now, but since I plan to file I don't think it's a good idea. Hopefully, I can file before a lawsuit or judgement. Plus, even if the amount owed is reduced it would cause more harm than good. I am pretty sure that the amount relieved would be converted to income and reported to the IRS on a 1099. Taxed too! Then there is the median income deal to think about.

Capital One would not help until a payment was missed either. Hardship is the buzz word, but I did not know that at the time.

Good luck. Are you planning to file ch 7 or 13? Will a payment plan with the cc company matter if you go bk route anyway? Oh, I know what makes me think of this. Chase recorded all calls almost immediately upon hearing that I was going to have difficulty paying (hence, the immediate response from collections). I wonder if there is some loophole they think they can get you for if you answer a question "incorrectly" while being recorded? Intent or fraud or insolvency or something.

I screen my calls and won't answer unknown numbers (atty said not to talk with them; there's is nothing they can do to help my sorry self now and nothing that I really want to hear).

No more credit cards ever.

[SandyShores]

I hope there is a special place in hell for Chase execs. A few months ago I owed 13,000 at about 6% and had never been late or missed a payment. Without warning, they jacked my interest rate to 29.99%, decreased my credit line, assessed fees and so on- I really needed help. Customer service billing reps refused to negotiate, repeating the same canned lines. All refused to put me through to a manager saying that my situation was not serious enough to warrant talking to management as I was current on my account. They were incredibly curt and rude.

Four days after my first missed payment, I received seven phone calls from their collection deptartment.

Chase is willing to negotiate now, but since I plan to file I don't think it's a good idea. Hopefully, I can file before a lawsuit or judgement. Plus, even if the amount owed is reduced it would cause more harm than good. I am pretty sure that the amount relieved would be converted to income and reported to the IRS on a 1099. Taxed too! Then there is the median income deal to think about.

Capital One would not help until a payment was missed either. Hardship is the buzz word, but I did not know that at the time.

Good luck. Are you planning to file ch 7 or 13? Will a payment plan with the cc company matter if you go bk route anyway? Oh, I know what makes me think of this. Chase recorded all calls almost immediately upon hearing that I was going to have difficulty paying (hence, the immediate response from collections). I wonder if there is some loophole they think they can get you for if you answer a question "incorrectly" while being recorded? Intent or fraud or insolvency or something.

I screen my calls and won't answer unknown numbers (atty said not to talk with them; there's is nothing they can do to help my sorry self now and nothing that I really want to hear).

No more credit cards ever.

I had a similar problem with BofA. So I just decided to go bk but am waiting until my cards cool down and taking their calls in the meantime stringing them along. The funny thing is I have a pretty good idea that they may not be able to pony up the original credit card agreement because it was originally an MBNA account that they bought up ten years ago. And, the balance is too high for small claims so they will probably charge it off sooner or later. But I could be wrong. I'm new at the game.

SandyShores

[StartingOver08]

One of the cc's I was able to make an agreement with was MBNA - AFTER it had been purchased by BOA. That agreement was made in Sept 2007 - they have a hardship dept too.

I don't suggest going the hardship route if you are already in too deep - it is better to file BK. However, if you have a relatively small debt for your income the hardship route is far better than the debt relief companies out there. Better to negotiate the new rate and terms yourself.

[knotholeone]

Hsbc sucks!!!

[bf2bf]

...Oh, I know what makes me think of this. Chase recorded all calls almost immediately upon hearing that I was going to have difficulty paying (hence, the immediate response from collections). .....

Are you saying you started getting collection calls a lot sooner than you otherwise would have, because you called Chase and told them you had trouble paying?

[Pizza]

I've gotten one from Chase and two from Citi "offering" to help with a "number of solutions". More 'buying time' as I call it, and time is overrated.

I owe everyone and their dogs. Even if I could "work it out" with a couple of creditors, there is about zero chance that none of the zillions of creditors would try to sue eventually. So I'm just waiting on a good ole letter from one of them, then dropping the bomb.

[frmrdwn]

Are you saying you started getting collection calls a lot sooner than you otherwise would have, because you called Chase and told them you had trouble paying?

That's what I thought at the time, as I received phone calls almost immediately after speaking with the billing department and telling them that my payment would be late. I called using the customer service number on the back of the card. After speaking with customer service once about that late payment all of my other calls to check the balance and late fees (you know, the automated kind) were diverted to a live person and recorded. It's ironic, now I don't necessarily want to talk with a live person, but that's all I can get.

Mostly, I am surprised about how quickly I started receiving phone calls after that first missed payment. I don't remember exactly how many days now, but it was between 4-6. After reading so many posts on the topic though, it doesn't look that atypical.

I can't file until April and am really jumpy about getting a judement against me before I file.

[frmrdwn]

One of the cc's I was able to make an agreement with was MBNA - AFTER it had been purchased by BOA. That agreement was made in Sept 2007 - they have a hardship dept too.

I don't suggest going the hardship route if you are already in too deep - it is better to file BK. However, if you have a relatively small debt for your income the hardship route is far better than the debt relief companies out there. Better to negotiate the new rate and terms yourself.

Did you make a hardship deal and then file bk? If so, did it impede your bk process?