Chase called me tonight after I have spoken with them for over 2 months about a lower payment to stay current and responding to their balance liquidation program. Long story short, they would not allow the offer because I was working to Mod my home loan at the same time. Chase told me to contact them once the mod went through for further consideration. Well the Mod is still pending which will save me a couple of thousand a month. Chase "collections" called me tonight and stated that they were going to refer me to their attorney in my area to issue me a summons, get judgement, wage garnishment, etc. (not quite 60days late is it, never before a late in over 14yrs) I asked if they had the notes from thier own (2) employees on what they had told me...of course not, and they could not see them as that is a seperate dept
Their first offer was to pay the entire balance because they were accelerating (25k), next offer was a one time 3.5k pmt, next was 1.1k for 4 months, and last was a lump sum 16k pmt.
I stated none of these would work but I could probably afford 4-500 a month with an immediate payment...they said no, they would go through with lawsuit
and explained their options and how great of a customer I was for all these years. I said great, well then why would you not want to work with your "great customer" for a satisfactory resolution to help me get back on track and for you to keep reasonable payments coming in?....
Chase stated that they had no other offers asked if I could borrow from 401k family, etc? I said no and that I had been proactive in working with them, followed their advise and that they don't seem to want to get paid anything...they asked what I meant? I asked if they were aware of how unsecured creditors are treated in BK court and what they might get in that scenario...she stated that was certainly a consumer option but that if I didn't work something out with them in 20 days they would go through with suit, etc.....
I have never been in a situation remotly close to this...but I find hard to believe they are playing this hard of ball at ~60days. Do you all think this is for real or a scare tactic? It definately was Chase collections not a 3rd party.
Their first offer was to pay the entire balance because they were accelerating (25k), next offer was a one time 3.5k pmt, next was 1.1k for 4 months, and last was a lump sum 16k pmt. I stated none of these would work but I could probably afford 4-500 a month with an immediate payment...they said no, they would go through with lawsuit
and explained their options and how great of a customer I was for all these years. I said great, well then why would you not want to work with your "great customer" for a satisfactory resolution to help me get back on track and for you to keep reasonable payments coming in?.... Chase stated that they had no other offers asked if I could borrow from 401k family, etc? I said no and that I had been proactive in working with them, followed their advise and that they don't seem to want to get paid anything...they asked what I meant? I asked if they were aware of how unsecured creditors are treated in BK court and what they might get in that scenario...she stated that was certainly a consumer option but that if I didn't work something out with them in 20 days they would go through with suit, etc.....I have never been in a situation remotly close to this...but I find hard to believe they are playing this hard of ball at ~60days. Do you all think this is for real or a scare tactic? It definately was Chase collections not a 3rd party.
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