BackedIn

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  1. Received 2 letters for 2 different Chase accounts that are a year past Charge Off offering a settlement. Their exact verbage... "We want to work with you to resolve your deliquent account, so we'd like to offer you a settlement. Your current account balance is $3200, however we'll accept payment of $320 to settle the account and stop further collection activities. You'll save $2900. You can accept this offer until 4/1/17." The 2nd letter stated the same with the balance for that account and the respective offer of 10% of balance to settle. Does this mean they will not sue or sell the balance owed if I agree to their offer? I am very surprised at how low Chase of all people are willing to accept. Anyone been successsful in getting them to delete the account once settled? I've been contacted by several CA on these 2 accounts since defaulting on payment when we filed for divorce 2 years ago. My former husband ended up losing his job a year ago so alimony was greatly reduced. I am supplementing expenses by dipping into retirement. That's where I would get the settlement payments for these accounts. With little income and only my homesteaded home, I would file BK, but for a law in NV barring guardians filing BK. Guardianship of my special needs adult child is more important than BK protection to me.
  2. The U.S. Supreme Court on Tuesday agreed to decide whether people who have filed for bankruptcy can sue companies that attempt to collect debts that was not required to be paid back because of state statutes of limitations.... http://www.courthousenews.com/2016/10/11/debt-collection-dispute-faces-high-court-hearing.htm
  3. Thank you for your thoughts. I didn't copy the whole Arb section in that attached agreement. It does state that it binds the parties even with the sale of this debt by them, which is essentially what they did when the successor banks took over ownership of the accounts. It also states that if NAF is unable or unwilling, another independent 3rd party arbitrator would be substituted with the same FAA rules applying. That leaves Crap1's Arb removal.
  4. Wondering if someone can weigh in...had a card with MBNA opened around 1995 until last year. MBNA agreement had Arbitration with NAF that included a survivability clause (copied the portion in question below). I realize NAF is no longer are involved with consumer debt arb, plus MBNA was absorbed then subsequently sold to different banks the order of which I forget exactly during in banking crisis, but included Wash Mutual, Providian, then HSBC which sold all accounts to Crap 1. Knowing Crap 1 took all the arb clauses out of their agreements, is it likely this agreement from MBNA (agreement from 2004-2005 before MBNA disintergrated; ) with the survivability clause could govern? Opinions please and Thank You in advance! This Arbitration and Litigation Section shall survive the termination of your Account with us as well as any voluntary payment of the debt in full by you, any bankruptcy by you or sale of the debt by us. For the purposes of this Arbitration and Litgation Section, “we” and “us” means MBNA America Bank, N.A., its parent, subsidiaries, affiliates, licensees, predecessors, successors, assigns, and any purchaser of your Account, and all of their officers, directors, employees, agents and assigns or any and all of them. Additionally, “we” or “us” shall mean any third party providing benefits, services, or products in connection with the Account (including but not limited to credit bureaus, merchants that accept any Credit Device issued under the Account, rewards ot enrollment services, credit insurance companies, debt collectors and all of their officers, directors, employees and agents) if, and only if, such a third party is named by you as a co-defendant in any Claim you assert against us. If any part of this Arbitration and Litigation Section is found to be invalid or unenforceable under any law or statute consistent with the FAA, the remainder of this Arbitration and Litigation Section shall be enforceable without regard to such invalidity or unenforceability. Whole agreement is attached. 2004-2005-MBNA-Agreement-with-NAF_with_survivability.pdf
  5. Except any from 2015 per CFPB site : "(Please note that the Bureau did not collect agreements for 2015. The January 2016 archive is a sample that was collected by Bureau staff from the publicly-available websites of the largest credit card issuers as of the first week of January 2016, and does not constitute a full set of agreements)."
  6. If down the line I file bk and include a Barclays account after going thru the arbitration process, will it not be able to be discharged because of this section in their cc agreement? Do I try to stay away from arbitration if there is a chance I will need to file bk in the near future? This section has me so confused as to it's meaning. Can anyone give me an better understanding please? This arbitration agreement applies to all Claims now in existence or that may arise in the future, and it survives the termination of the Cardmember Agreement and the Account relationship, including your payment in full, and your filing of bankruptcy. Nothing in this Agreement shall be construed to prevent any party’s use of (or advancement of any claims, defenses, or offsets in) bankruptcy or repossession, replevin, judicial foreclosure or any other prejudgment or provisional remedy relating to any collateral, security or property interests for contractual debts now or hereafter owed by either party to the other under this Agreement.