Best way to approach a big, bad Chase Chargeoff?

[tivaclare]

We want to apply for a mortgage in Nov-Dec of this year. We did a mortgage pre-qual today to see where we stand and lure out anyone else that may be lurking. The lender said we have 6 collection that will need to be taken care of before we apply for real. They range from $145 up to $1787. I've had mixed success disputing some of the smaller accounts, with some CRAs deleting completely while others still report.

 

Our biggest one is a Chase Chargeoff for $1787. Details from TU report are below. What would be the best way to deal with this? It was the one the lender was most concerned about. We do have the cash on hand, if need be, but obviously want to conserve as much of that as possible for closing, etc.

 

CHASE BANK USA NA

PO BOX 15298
WILMINGTON, DE 19850

(800) 432-3117

Date Opened:

10/04/2006

Responsibility:

Individual Account

Account Type:

Revolving Account

Loan Type:

CREDIT CARD

Balance:

$1,787

Date Updated:

01/12/2016

Payment Received:

$0

Last Payment Made:

01/22/2013

High Balance:

$4,059

Credit Limit:

$3,500

Past Due:

>$1,787<

Pay Status:

>Charged Off<

Terms:

Paid Monthly

Date Closed:

06/26/2008

>Maximum Delinquency of 120 days in 09/2010 for $589 and in 03/2013 for $437<

Remarks:

CLOSED BY CREDIT GRANTOR; >UNPAID BALANCE CHARGED OFF<

Estimated month and year that this item will be removed:

03/2019

 

[ubercat]

Chase is a bulldog. I'm sorry to be the one to tell you, but they hold a grudge, and have a very long memory.

[tivaclare]

Chase is a bulldog. I'm sorry to be the one to tell you, but they hold a grudge, and have a very long memory.

 

Would it be best to write and just offer to pay the $1787? If they are aggressive, I doubt a PFD would work. With this reporting our scores are good enough to qualify for the loan we want, so if it reports as paid collection so be it, the biggest concern is just getting it taken care so we can get the loan.

[ubercat]

 

Chase is a bulldog. I'm sorry to be the one to tell you, but they hold a grudge, and have a very long memory.

 

Would it be best to write and just offer to pay the $1787? If they are aggressive, I doubt a PFD would work. With this reporting our scores are good enough to qualify for the loan we want, so if it reports as paid collection so be it, the biggest concern is just getting it taken care so we can get the loan.

 

 

I see that the account was updated at the beginning of this year. Have you contacted anyone about this at that time?

 

Looking at the dates - they're all over the place...

 

...when was this actually closed?

Edited May 5, 2016 by ubercat

[tivaclare]

 

 

Chase is a bulldog. I'm sorry to be the one to tell you, but they hold a grudge, and have a very long memory.

 

Would it be best to write and just offer to pay the $1787? If they are aggressive, I doubt a PFD would work. With this reporting our scores are good enough to qualify for the loan we want, so if it reports as paid collection so be it, the biggest concern is just getting it taken care so we can get the loan.

 

 

I see that the account was updated at the beginning of this year. Have you contacted anyone about this at that time?

 

Looking at the dates - they're all over the place...

 

...when was this actually closed?

 

 

I have not disputed Chase yet. I believe we agreed to close the account in 2008 in exchange for a special payment agreement (reduced interest, etc) since we were behind in payments. I don't remember when we made the last payment. I had a long period of unemployment and things got tough, so a lot of things fell apart. Their given date of 1/2013 is probably accurate.

[EarnIt]

Chase may take a settlement on the account. I've heard of settlements as low as 15%. While it won't remove the trade line, it will satisfy it. When DW and I got our mortgage we had settled COs on our reports and it did not hinder us.

[tivaclare]

Chase may take a settlement on the account. I've heard of settlements as low as 15%. While it won't remove the trade line, it will satisfy it. When DW and I got our mortgage we had settled COs on our reports and it did not hinder us.

 

Thank you. At this point, I don't expect a delete and don't really "need" it as, the score are solid enough to get us approved. Would step 1 be to call the number on the credit report? I know we've had CAs come after us over the year, but I'm not sure who I'd even deal with to get this sorted.

[dvd]

 

Chase may take a settlement on the account. I've heard of settlements as low as 15%. While it won't remove the trade line, it will satisfy it. When DW and I got our mortgage we had settled COs on our reports and it did not hinder us.

 

Thank you. At this point, I don't expect a delete and don't really "need" it as, the score are solid enough to get us approved. Would step 1 be to call the number on the credit report? I know we've had CAs come after us over the year, but I'm not sure who I'd even deal with to get this sorted.

 

 

You can call the Chase EO Office and get the number of their collection department. That number is Chase: 888-622-7547

[mizliz1011]

try to cut a deal as they won't remove it. Say that you have a little money to settle it. I am surprised that they did not send you settlement offers... might you have some old corresPondence... in the end you will have to settle of Pay it to get the loan. good luck, they were one of my hardest to get rid of. Horrible to deal with.