Jen’s Journey

I now owe on my two Chase cards 25K and almost 10K. Since hearing I couldn’t work anything out with Citicards this morning, Chase has been calling so I decided to speak with them. After explaining my situtaion I express my desire to try and work something out with my lower balance card. Not sure if I posted this but the lady I spoke with last week about my Chase cards said she would only take 80% settlement. Well today was a different story, the guy who called me was actually pretty nice, he said the bank had agreed to 65% settlement (I guess they show up on your account what the bank wants), I offered him 55%. I told him that was all I could do, he seemed ok with this, took all my info and said he was pretty sure my offer would be accepted! So from 80%, to 65% to 55%! whoohoo.. I might have been able to offer even less but after my two first disappointing tries with both BoA and Citi, I really want to settle an account. So I think this is a fair offer considering my situtation. If this is approved, they will take 4K from my checking on 9/9 and the remaining $1400 on 10/9. Also since this is a checking account that usually has no funds I’m not worried about them pulling the money. I should get my approval in writing in the next few days. Wish me luck! Would be nice to at least have one account settled!

Wow, the last few days have been busy busy busy!! Here’s my updates so far,

Citicard - after speaking with the collections agency they wanted 14K (50% settlement) in two months. I explained I could come up with half by next week and the remaining amounts in 6 months. They would not go for this. I even spoke to the manager or someone because the rep whowas speaking with me couldn’t handle it or something. Not sure how I got to him, but had to re-explain everything and listen to him working this deal, that they wanted all the funds by 8/30 which is today ( just spoke with them at 4:30PM on 8/29!) so they wanted $6K by the next morning 10AM central time!! I swear they go on an on, and really don’t listen to what you have to say, at least this collector did. Then he says that he will have to go back to Citicard and tell them I will pay when it’s convenient for me. I’m am like what? I only have so much money available and if they won’t work the settlement with me I have to use these funds for other accounts! It’s not like I have the 14K and just won’t pay them!! I then proceed to laugh, and ask if all you guys talk this way? I think that upset him alittle. Finally tired of arguing with him I told him to just send me the offer and I’ll look it over. Of course at the time, I thought he understood I couldn’t have all the 6K until NEXT week. But sure enough the offer comes over and it’s 6K by the next morning at 10AM. What a joke. He said he was sending my account back to Citicard or something like that, so we’ll see if it goes to a different collection agency or what.

I have a feeling they won’t wait much longer but I knew this going in, but with only 4 cards, and having such high balances my chances of being sued are much greater then most.