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DansDeals Forum => Credit Cards => Topic started by: EMCC on February 01, 2018, 12:05:30 PM

Title: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 12:05:30 PM
Ok guys, I messed up, and now Iím in trouble. My credit score is still good, and Iíve never missed a payment. I just canít be paying back my bank forever, I need to live my life. I need to negotiate my debt. Does this hurt my credit score? Can I do it in person in a Chase bank? Any tips?
Title: Re: I Owe Chase $25k from CC
Post by: ckmk47 on February 01, 2018, 12:18:52 PM
Negotiating a debt with a cc card I think is done on the phone with the cc company, rather than in the bank.
The amount written off by the cc counts against you in your credit rating.


If you only had the principle to pay, would you be able to make reasonable payments over a reasonable amount of time?  If so, do you have any family member or good friend who would front the money for you now and you can pay them back?
Title: Re: I Owe Chase $25k from CC
Post by: Geshmak25 on February 01, 2018, 12:27:05 PM
If so, do you have any family member or good friend who would front the money for you now and you can pay them back?
That's a good way to soon have a bad friend.
Title: Re: I Owe Chase $25k from CC
Post by: BarryLincoln on February 01, 2018, 12:30:05 PM
Ok guys, I messed up, and now Iím in trouble. My credit score is still good, and Iíve never missed a payment. I just canít be paying back my bank forever, I need to live my life. I need to negotiate my debt. Does this hurt my credit score? Can I do it in person in a Chase bank? Any tips?

Sell some points?
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 12:30:37 PM
Negotiating a debt with a cc card I think is done on the phone with the cc company, rather than in the bank.
The amount written off by the cc counts against you in your credit rating.


If you only had the principle to pay, would you be able to make reasonable payments over a reasonable amount of time?  If so, do you have any family member or good friend who would front the money for you now and you can pay them back?
What do you mean it will be held against me? To what extent?

I have no money, so paying back would take me a while, and a huge chunk out of my paycheck. Iím willing to give up that chunk, I got myself into this mess, now I need to pay up, but itís just so much! I could move on with life if I could pay back $10k or so.
Title: Re: I Owe Chase $25k from CC
Post by: shapsam on February 01, 2018, 12:34:09 PM
What do you mean it will be help against me? To what extent?

I have no money, so paying back would take me a while, and a huge chunk out of my paycheck. Iím willing to give up that chunk, I got myself into this mess, now I need to pay up, but itís just so much! I could move on with life if I could pay back $10k or so.
You can get it down to much less than $10k but I don't know what effect it will have on your credit score.
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 12:36:38 PM
I just canít be paying back my bank forever, I need to live my life. I need to negotiate my debt.

I'm sorry this has happened to you, but this is in fact your mistake. "Can't be paying back a debt you incurred because you need to live your life?"

Why should the bank pay for your mistake?

Generally, negotiating a reduced debt takes a large toll on your credit. You don't get to skip out on $15K of your $25K debt and expect your credit to remain sterling.
Title: Re: I Owe Chase $25k from CC
Post by: shapsam on February 01, 2018, 12:40:40 PM
Generally, negotiating a reduced debt takes a large toll on your credit. You don't get to skip out on $15K of your $25K debt and expect your credit to remain sterling.
Isn't it worth to have not such good credit for a year or two and be able to cut $20k off your debt?
Title: Re: I Owe Chase $25k from CC
Post by: Chief Rabbi of New York on February 01, 2018, 12:41:22 PM
Ok guys, I messed up, and now Iím in trouble. My credit score is still good, and Iíve never missed a payment. I just canít be paying back my bank forever, I need to live my life. I need to negotiate my debt. Does this hurt my credit score? Can I do it in person in a Chase bank? Any tips?

how did you get into this mess? spending spree?
Title: Re: I Owe Chase $25k from CC
Post by: davidrotts63 on February 01, 2018, 12:41:36 PM
Isn't it worth to have not such good credit for a year or two and be able to cut $20k off your debt?
It's likely worse then "not such God credit for a year or two"
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 12:42:40 PM
Isn't it worth to have not such good credit for a year or two and be able to cut $20k off your debt?

Your question assumes facts not in evidence. Why do you say "a year or two?"
Title: Re: I Owe Chase $25k from CC
Post by: sruly on February 01, 2018, 12:42:55 PM
I'm sorry this has happened to you, but this is in fact your mistake. "Can't be paying back a debt you incurred because you need to live your life?"

Why should the bank pay for your mistake?

Generally, negotiating a reduced debt takes a large toll on your credit. You don't get to skip out on $15K of your $25K debt and expect your credit to remain sterling.
don't think it matters if you negotiate %10 off or %90 off it will still just show up on your report as settlement acceptedepted on this account which is bad but not as a bad a not paying at all.
Title: Re: I Owe Chase $25k from CC
Post by: ExGingi on February 01, 2018, 12:43:43 PM
Ok guys, I messed up, and now Iím in trouble. My credit score is still good, and Iíve never missed a payment. I just canít be paying back my bank forever, I need to live my life. I need to negotiate my debt. Does this hurt my credit score? Can I do it in person in a Chase bank? Any tips?
As long as your credit score is good, don't expect a favorable outcome from negotiations.

There are strategies to mitigate and minimize the damage, nothing to be discussed publicly.
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 12:44:04 PM
don't think it matters if you negotiate %10 off or %90 off it will still just show up on your report as settlement acceptedepted on this account which is bad but not as a bad a not paying at all.

The point is the same.  Negotiating debt will likely have negative repercussions to one's credit.
Title: Re: I Owe Chase $25k from CC
Post by: sruly on February 01, 2018, 12:45:35 PM
The point is the same.  Negotiating debt will likely have negative repercussions to one's credit.
yes but 1 settled account on an otherwise good report won't kill his credit altough as just mentioned with good credit he won't get a great settlement.
Title: Re: I Owe Chase $25k from CC
Post by: shapsam on February 01, 2018, 12:47:11 PM
Your question assumes facts not in evidence. Why do you say "a year or two?"
Because I know someone that settled $50k debt for $5k with chase and they approved him for a credit card a year or two later.
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 12:47:16 PM
OP, why not just continue paying minimums until you can the money to pay off the debt? Sure, you'll pay interest, but your credit will remain good. Another option to consider is to apply now for a balance-transfer 0% interest card and park the debt there for 18 months while you work it out.
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 12:48:16 PM
Because I know someone that settled $50k debt for $5k with chase and they approved him for a credit card a year or two later.

That surprises me, but doesn't change anything. Whether a particular issuer is keen on giving the same guy who stiffed them a year earlier another CC is up that issuer.  But the charge off remains on his report for all creditors to see for 7 years or so.
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 12:51:18 PM
how did you get into this mess? spending spree?
Lost my job and was jobless for a while.
Title: Re: I Owe Chase $25k from CC
Post by: sky121 on February 01, 2018, 12:53:51 PM
Because I know someone that settled $50k debt for $5k with chase and they approved him for a credit card a year or two later.
That is not the norm AFAIK
Title: Re: I Owe Chase $25k from CC
Post by: sky121 on February 01, 2018, 12:55:18 PM
Lost my job and was jobless for a while.
Do you know any financial advisors you trust?



My thought if you have a good credit score and now have a job is maybe taking a small loan out. I assume interest is very high?

Title: Re: I Owe Chase $25k from CC
Post by: sky121 on February 01, 2018, 12:57:09 PM
Do you know any financial advisors you trust?



My thought if you have a good credit score and now have a job is maybe taking a small loan out. I assume interest is very high?
Or get approved for a CC with no interest for a year or so ? Those would be my first ideas.

Though I know little of your situation. Nor do I know you. Sometimes depending on the person's situation and personality even different choices are preferable.
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 12:57:14 PM
I'm sorry this has happened to you, but this is in fact your mistake. "Can't be paying back a debt you incurred because you need to live your life?"

Why should the bank pay for your mistake?

Generally, negotiating a reduced debt takes a large toll on your credit. You don't get to skip out on $15K of your $25K debt and expect your credit to remain sterling.
I do agree, it is my fault, I should be accountable, but some things are beyond human control, and a situation arose where I need to be debt free asap
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 12:59:43 PM
That surprises me, but doesn't change anything. Whether a particular issuer is keen on giving the same guy who stiffed them a year earlier another CC is up that issuer.  But the charge off remains on his report for all creditors to see for 7 years or so.
For 7 Years!? So if I want to buy a house within the next seven years, I canít do this, right?
Title: Re: I Owe Chase $25k from CC
Post by: BP16 on February 01, 2018, 01:01:05 PM
I do agree, it is my fault, I should Be accountable, but some things are beyond human control, and a situation arose where I need to be debt free asap
25k is not 250k you should be able to get cards with 0 APR for 18 months like @AJK mentioned so you wont have to pay any interest for at least 18 months.   
Title: Re: I Owe Chase $25k from CC
Post by: Redbull3 on February 01, 2018, 01:01:20 PM
Sorry about your situation... best of luck.
I think while your credit is still good, going for 0% card(s) to buy yourself time is a good idea.
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 01:02:15 PM
25k is not 250k you should be able to get cards with 0 APR for 18 months like @AJK mentioned so you wont have to pay any interest for at least 18 months.
I canít get approved, too much debt. I tried huca
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 01:06:46 PM
What if I donít negotiate my debt, but instead negotiate the interest and the time to pay back, will that also effect my score?
Title: Re: I Owe Chase $25k from CC
Post by: sruly on February 01, 2018, 01:17:42 PM
That surprises me, but doesn't change anything. Whether a particular issuer is keen on giving the same guy who stiffed them a year earlier another CC is up that issuer.  But the charge off remains on his report for all creditors to see for 7 years or so.
a settled account is not as bad as a charge-off.
And yes you can talk your way back into Chase after 2 years.
Title: Re: I Owe Chase $25k from CC
Post by: Mountain Man on February 01, 2018, 01:23:12 PM
Lost my job and was jobless for a while.
I'm sorry to hear that. That happens, I hope your spending was on necessities.

Personally, I wouldn't default on only $25k. It's a lot but I know you've been around these forums long enough to know that your credit is worth far more than that over a few years.

Honestly you should read this:
https://www.mrmoneymustache.com/2012/04/18/news-flash-your-debt-is-an-emergency/

Sure there are many ways to get the debt annulled but it won't solve the underlying issue. Paying off debt (I had far more than this in student debt without a job) is like exercising. It builds strong habits for the rest of your life. $25k isn't that bad. It's $200 a week over 3 years including interest.
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 01:30:40 PM
I'm sorry to hear that. That happens, I hope your spending was on necessities.

Personally, I wouldn't default on only $25k. It's a lot but I know you've been around these forums long enough to know that your credit is worth far more than that over a few years.

Honestly you should read this:
https://www.mrmoneymustache.com/2012/04/18/news-flash-your-debt-is-an-emergency/

Sure there are many ways to get the debt annulled but it won't solve the underlying issue. Paying off debt (I had far more than this in student debt without a job) is like exercising. It builds strong habits for the rest of your life. $25k isn't that bad. It's $200 a week over 3 years including interest.
Iím taking it to the extreme, Iím not buying anything aside for food, toiletries, low rent, and low cost transportation.the rest goes to the debt. Still, it will take a long time to pay back.
Title: Re: I Owe Chase $25k from CC
Post by: AJK on February 01, 2018, 01:37:41 PM
That's life, my friend. People take 10, 20, or even 30 years to pay off mortgages, student loans, and credit card debt.

Title: Re: I Owe Chase $25k from CC
Post by: Mountain Man on February 01, 2018, 01:38:32 PM
Iím taking it to the extreme, Iím not buying anything aside for food, toiletries, low rent, and low cost transportation.the rest goes to the debt. Still, it will take a long time to pay back.
I've been there in 2009-2011. I owed around $40k with nothing to my name. I think many of us here have. You're in a good economy with a lot of options. You're on DDF. Many people here make far more than what you owe per year from side hustles. I don't know your situation but I don't think it's as bleak as you're making it. Find a side a hustle. The cost of defaulting on $25k is not worth it IMHO.

I have a friend who owes well over $100k in unsecured debt with a wife and kids and can't hold a job. That's bleak. From what it sounds like you still have options.
Title: Re: I Owe Chase $25k from CC
Post by: ChaimMoskowitz on February 01, 2018, 01:54:20 PM
I would head over to creditboards.com and get some excellent NON-JUDGEMENTAL advice.
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 01:56:48 PM
Can you downgrade to a lower rate card?

I'm sorry to hear that. That happens, I hope your spending was on necessities.

Personally, I wouldn't default on only $25k. It's a lot but I know you've been around these forums long enough to know that your credit is worth far more than that over a few years.

Honestly you should read this:
https://www.mrmoneymustache.com/2012/04/18/news-flash-your-debt-is-an-emergency/

Sure there are many ways to get the debt annulled but it won't solve the underlying issue. Paying off debt (I had far more than this in student debt without a job) is like exercising. It builds strong habits for the rest of your life. $25k isn't that bad. It's $200 a week over 3 years including interest.
Over $800 a month is quite a lot.
Title: Re: I Owe Chase $25k from CC
Post by: Mountain Man on February 01, 2018, 02:05:00 PM
Can you downgrade to a lower rate card?
 Over $800 a month is quite a lot.
Of course it is. But you have to get real about life. Hypothetically, someone (Not necessarily @EMCC )with $25k debt likely has no long term savings. No 401k or IRA or HSA. Nothing to fall back on. They are on the precipice of disaster. So it wouldn't matter if the $25k was forgiven, something else would come up and they'd be back in the same hole. If you get creative and can generate the extra $10k a year suddenly the debt isn't so ominous and then you have a path to squirrel away some money in case you ever need it in the future.

I'm not saying this will be easy. I am saying that this will become a recurring issue.
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 02:12:55 PM
Of course it is. But you have to get real about life. Hypothetically, someone (Not necessarily @EMCC )with $25k debt likely has no long term savings. No 401k or IRA or HSA. Nothing to fall back on. They are on the precipice of disaster. So it wouldn't matter if the $25k was forgiven, something else would come up and they'd be back in the same hole. If you get creative and can generate the extra $10k a year suddenly the debt isn't so ominous and then you have a path to squirrel away some money in case you ever need it in the future.

I'm not saying this will be easy. I am saying that this will become a recurring issue.
I think your math is off too, he would need an interest rate of ~11% for that to add up.
Title: Re: I Owe Chase $25k from CC
Post by: Dr Moose on February 01, 2018, 02:14:15 PM
You can get a personal loan from a bank like discover. Yes, you'll be paying high interest. But your credit will shoot back up after a month being that your credit utilization has gone down.
Title: Re: I Owe Chase $25k from CC
Post by: saw50st8 on February 01, 2018, 02:15:14 PM
Can you take on some extra work to pay the debt down faster?
Title: Re: I Owe Chase $25k from CC
Post by: EMCC on February 01, 2018, 02:15:21 PM
You can get a personal loan from a bank like discover. Yes, you'll be paying high interest. But your credit will shoot back up after a month being that your credit utilization has gone down.
My utilization is well under 25%
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 02:19:00 PM
You can get a personal loan from a bank like discover. Yes, you'll be paying high interest. But your credit will shoot back up after a month being that your credit utilization has gone down.
It should be much lower than the CC rate.
Title: Re: I Owe Chase $25k from CC
Post by: ADG on February 01, 2018, 02:19:03 PM
That's life, my friend. People take 10, 20, or even 30 years to pay off mortgages, student loans, and credit card debt.

I bless you to have so much Gvurah in your Chesed...
Title: Re: I Owe Chase $25k from CC
Post by: farmbochur on February 01, 2018, 02:19:08 PM


Honestly you should read this:
https://www.mrmoneymustache.com/2012/04/18/news-flash-your-debt-is-an-emergency/

Nice to encounter another mustachian
Title: Re: I Owe Chase $25k from CC
Post by: Mountain Man on February 01, 2018, 02:20:14 PM
I think your math is off too, he would need an interest rate of ~11% for that to add up.
I was guesstimating but you got me curious. @ $800 a month it's ~11%. @ $200 a week which I was referring to is 16%. I guess if you're being nit-picky  then lets say $230 a week over 36 months should do it at 25%+.

But that all assumes that none of it can go onto a 0% or promo rated card which I doubt is the case given a 25% credit utilization.
Title: Re: I Owe Chase $25k from CC
Post by: ADG on February 01, 2018, 02:20:25 PM
My utilization is well under 25%

So try move your available credit lines to 0 APR cards within the same banks... or keep trying new banks...
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 02:38:06 PM
I canít get approved, too much debt. I tried huca
I'm going to assume you're married, can your spouse get a 0% interest card?
Title: Re: I Owe Chase $25k from CC
Post by: 12HRS on February 01, 2018, 02:54:04 PM
do you have any business credit cards? shift all your spending over to those cards to hide the debt and then once your cs goes up you can open a 0% APR card and should be easier to get approved
Title: Re: I Owe Chase $25k from CC
Post by: mmgfarb on February 01, 2018, 02:58:18 PM
do you have any business credit cards? shift all your spending over to those cards to hide the debt and then once your cs goes up you can open a 0% APR card and should be easier to get approved
That's actually a good idea, you can even just transfer the balance by buying VGC on the biz cards and using that to pay off the personal cards.
Title: Re: I Owe Chase $25k from CC
Post by: davidmal on February 01, 2018, 03:20:21 PM
OP, why not just continue paying minimums until you can the money to pay off the debt? Sure, you'll pay interest, but your credit will remain good. Another option to consider is to apply now for a balance-transfer 0% interest card and park the debt there for 18 months while you work it out.
+25,000!
Title: Re: I Owe Chase $25k from CC
Post by: ckmk47 on February 01, 2018, 03:22:21 PM
That's actually a good idea, you can even just transfer the balance by buying VGC on the biz cards and using that to pay off the personal cards.
Purchase fees add up pretty quickly with that many VGCs, but would work.
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 03:25:32 PM
Purchase fees add up pretty quickly with that many VGCs, but would work.
But you don't pay a 3% transfer fee (Plus extra points)
Title: Re: I Owe Chase $25k from CC
Post by: ckmk47 on February 01, 2018, 03:27:50 PM
But you don't pay a 3% transfer fee (Plus extra points)
+1!
The fees are at least 1%.  But that's less than 3%+
Title: Re: I Owe Chase $25k from CC
Post by: Mountain Man on February 01, 2018, 03:29:51 PM
Purchase fees add up pretty quickly with that many VGCs, but would work.
With points should be a wash.
But you don't pay a 3% transfer fee (Plus extra points)
But my concern with suggesting this route is that it can lead him into more trouble. Also, it's not as easy as it used to be to unload vgc and if he's going the MO route he might be better off with GC Mall and TCB  (which if he hits hard enough could solve his whole issue in the first place).

There's a plethora of options available. But it seems to me he has a cashflow or spending issue more than he has a debt issue.
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 01, 2018, 03:33:45 PM
With points should be a wash.But my concern with suggesting this route is that it can lead him into more trouble. Also, it's not as easy as it used to be to unload vgc and if he's going the MO route he might be better off with GC Mall and TCB  (which if he hits hard enough could solve his whole issue in the first place).

There's a plethora of options available. But it seems to me he has a cashflow or spending issue more than he has a debt issue.
Any MS method would work.
Title: Re: I Owe Chase $25k from CC
Post by: Buruch on February 01, 2018, 05:40:37 PM
do you have any business credit cards? shift all your spending over to those cards to hide the debt and then once your cs goes up you can open a 0% APR card and should be easier to get approved

This, or even a personal card could work. I've floated 10-12k on cards with vgc and MOs for a few months in order to defer income to the next year for tax purposes. Do that, and get a no interest card like slate.
Title: Re: I Owe Chase $25k from CC
Post by: coralsnake on February 02, 2018, 01:01:00 AM
Don't forget that the bank has no incentive to negotiate a penny as long as you're paying them as agreed.
Title: Re: I Owe Chase $25k from CC
Post by: Yammer on February 02, 2018, 01:12:19 AM
For 7 Years!? So if I want to buy a house within the next seven years, I canít do this, right?
How's your wife's credit?
Title: Re: I Owe Chase $25k from CC
Post by: ChaimMoskowitz on February 02, 2018, 07:01:28 AM
The fees are at least 1%. 
Some are less than 1%.
Title: Re: I Owe Chase $25k from CC
Post by: YesThatsMe on February 04, 2018, 03:18:10 PM
This, or even a personal card could work. I've floated 10-12k on cards with vgc and MOs for a few months in order to defer income to the next year for tax purposes. Do that, and get a no interest card like slate.

Mind explaining this a bit more in detail please?
Title: Re: I Owe Chase $25k from CC
Post by: Luvisrael on February 04, 2018, 04:20:41 PM
Can u do balance transfer between spouses, or names have to be on account? Does a spouse as an AU work on that end?
Title: Re: I Owe Chase $25k from CC
Post by: beeweegee on February 04, 2018, 05:22:55 PM
I would head over to creditboards.com and get some excellent NON-JUDGEMENTAL advice.
Funny you should say this. I think it's excellent advice to check out CB, but I was noticing how nice and generally non-judgemental the responses have been on this thread.
Title: Re: I Owe Chase $25k from CC
Post by: chinagel on February 04, 2018, 05:39:26 PM
Can u do balance transfer between spouses, or names have to be on account? Does a spouse as an AU work on that end?
names dont have to match IME
Title: Re: I Owe Chase $25k from CC
Post by: Mordyk on February 04, 2018, 06:10:27 PM
Can u do balance transfer between spouses, or names have to be on account? Does a spouse as an AU work on that end?
IME balance transfer you dont need any matching info, only need card number to transfer
Title: Re: I Owe Chase $25k from CC
Post by: ChaimMoskowitz on February 04, 2018, 08:50:14 PM
Funny you should say this. I think it's excellent advice to check out CB, but I was noticing how nice and generally non-judgemental the responses have been on this thread.
I noticed that to after my comment.  ;)
Title: Re: I Owe Chase $25k from CC
Post by: tzifanya54 on February 04, 2018, 09:35:20 PM
I noticed that to after my comment.  ;)
+1
The first page or 2 was pretty judgmental, then they calmed down.
Title: Re: I Owe Chase $25k from CC
Post by: Buruch on February 05, 2018, 12:29:36 AM
Mind explaining this a bit more in detail please?

Basically just buy VGCs, MOs, pay off the card with a balance, and now you have an extra month, or can be close to 2 if you time it right, before needing to make a payment. If you get the balance on a card like slate, then you have a year or 18 months of no interest.
Title: Re: I Owe Chase $25k from CC
Post by: ExGingi on February 05, 2018, 03:22:53 AM
Don't forget that the bank has no incentive to negotiate a penny as long as you're paying them as agreed.
+100000000000

There's something called a collectibility score.

If your credit report shows no delinquencies, your score is high and they won't budge, knowing that you care. But if your credit report shows that you are seriously delinquent everywhere, they realize that whatever the get is כמציל מן השריפה, so they will go as low as you will stick to your position (though they will probably never agree to less than 10 cents on the dollar.
Title: Re: I Owe Chase $25k from CC
Post by: Luvisrael on February 05, 2018, 05:39:47 AM
OP, why not just continue paying minimums until you can the money to pay off the debt? Sure, you'll pay interest, but your credit will remain good. Another option to consider is to apply now for a balance-transfer 0% interest card and park the debt there for 18 months while you work it out.
Anyone know the best non- chase option? 0% period and low BT fee...
Title: Re: I Owe Chase $25k from CC
Post by: dsw193 on February 05, 2018, 05:50:43 AM
Anyone know the best non- chase option?
Citi simplicity and Discover it cards.
Title: Re: I Owe Chase $25k from CC
Post by: Luvisrael on February 05, 2018, 06:05:14 AM
Can i, say, transfer from chase, than at a much later point in time, transfer back to chase, or they will see the history and not allow...
Title: Re: I Owe Chase $25k from CC
Post by: eli1571 on February 05, 2018, 06:06:56 AM
Can i, say, transfer from chase, than at a much later point in time, transfer back to chase, or they will see the history and not allow...
can be done.
Title: Re: I Owe Chase $25k from CC
Post by: dsw193 on February 05, 2018, 06:09:47 AM
Not sure. I know people have been approved in the low 700's.

Do a Google search for best balance transfer cards. There are various sites with graphs and all the info laid out.
Title: Re: I Owe Chase $25k from CC
Post by: davidrotts63 on February 05, 2018, 08:53:41 AM


Not sure. I know people have been approved in the low 700's.

Do a Google search for best balance transfer cards. There are various sites with graphs and all the info laid out.

What are you answering to?
Title: Re: I Owe Chase $25k from CC
Post by: dsw193 on February 05, 2018, 08:59:39 AM

What are you answering to?
.(https://uploads.tapatalk-cdn.com/20180205/bd7ff1d17bbb9025ddcdf2b51b391e39.jpg)
Title: Re: I Owe Chase $25k from CC
Post by: davidrotts63 on February 05, 2018, 09:01:51 AM
Citi simplicity and Discover it cards.
Barclay ring and citi diamond preferred too, hey have good rates after as well
Title: Re: I Owe Chase $25k from CC
Post by: bluesky on February 05, 2018, 02:59:04 PM
Anyone know the best non- chase option? 0% period and low BT fee...
BOA is the only card listed on www.cardbenefit.com that shows 0% transfer fee and 0% APR, but it is only for 15 months. Normal 3% after that. (plus 13.24%-24.24% variable APR)
Title: Re: I Owe Chase $25k from CC
Post by: avromie7 on February 05, 2018, 03:29:05 PM
Do you own a car that you can take a loan out against? You should be able to get a low rate.
Title: Re: I Owe Chase $25k from CC
Post by: Pesach on February 06, 2018, 12:12:05 AM
I heard of someone that needed a loan with 0 percent apr intrest etc for 18 months signed up for one of these cards spent it for a electronic buying group and  kept the check instead of paying back the card. has an intrest free loan for 18 months or so. you could do something similar if you find a card that has a balance transfer fee and send the check you recieve to pay back your chase
Title: Re: I Owe Chase $25k from CC
Post by: davidrotts63 on February 06, 2018, 12:13:04 AM
I heard of someone that needed a loan with 0 percent apr intrest etc for 18 months signed up for one of these cards spent it for a electronic buying group and  kept the check instead of paying back the card. has an intrest free loan for 18 months or so. you could do something similar if you find a card that has a balance transfer fee and send the check you recieve to pay back your chase
Has just been discussed
Title: Re: I Owe Chase $25k from CC
Post by: David R on March 02, 2018, 12:49:54 PM
Basically just buy VGCs, MOs, pay off the card with a balance, and now you have an extra month, or can be close to 2 if you time it right, before needing to make a payment. If you get the balance on a card like slate, then you have a year or 18 months of no interest.
Cheapest place or website to buy VGC using a card that has no special categories?
Title: Re: I Owe Chase $25k from CC
Post by: chevron on March 02, 2018, 01:04:05 PM
I have some balances on some cards I dont use. I agree that paying off CC debt requires determination. I too got in the mess by choosing to travel and not take a paycheck from my business.

You will feel great to get the debt off by hard work and discipline.