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Mother owes $17,000.00 to Chase.....Help!!


nusteem
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My Mother owes 17K to Chase. She is 77 years old and recently underwent surgery for cancer. She had been using this Chase card and run it up to the max. She had a 6.9% interest rate and when she was in the Hospital was late on one payment and now the rate has gone to 26.99%. There is no way she can make these payment any longer.

Can anyone give me me any advice as to the position Chase may take if I call them and discuss this with them on there Hardship Program. What is a favorable rate to get. I have no clue what they offer.

Regards,

Gary

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In my opinion, its highly unlikely that chase is going to show any compassion at all. Their hardship program is really just temporary for a year or so, and then they smack you with higher fees all over again.

If you call them, first of all, they may not discuss it with you unless you have power of attorney, but if they do, they may expect you to pay it off.

Is this the only debt your mother owes? Does she have any significant assets? Maybe BK is the route she needs to take...

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While I'm not in as much debt as your mother, I too am dealing with Chase in regard to a "hardship" program.

I was told they have two hardship programs, one of which lasts for one year, and another that lasts for 5 years with considerably lower interest rates.

Your mom's interest isn't too bad, considering mine is 28.99% and her is only 26.99%. ;-)

I'll keep you posted with my hardship program and chase. You specifically have to tell them you need to speak with someone about a hardship program. I think the girl I spoke with had loose lips, she even admitted at one point she was telling me too much information.

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My Mother owes 17K to Chase. She is 77 years old and recently underwent surgery for cancer. She had been using this Chase card and run it up to the max. She had a 6.9% interest rate and when she was in the Hospital was late on one payment and now the rate has gone to 26.99%. There is no way she can make these payment any longer.

Que-Don't worry about this. At your mom's age, she has better things to worry about then trying to pay Chase off. Even if these idiots try to sue her it will be hard to nearly impossible to recover this money. They'd do better if they just wrote it off as uncollectible debt and take the tax benefis for their company.

Can anyone give me me any advice as to the position Chase may take if I call them and discuss this with them on there Hardship Program. What is a favorable rate to get. I have no clue what they offer.

Regards,

Que-If you want to do this you can. I wouldn't even waist my time with this debt at your Mom's age. Chase knew what they were doing when they extended her the credit in the first place. I'm sure the Newspaper agencies, BBB and FTC would love to see this company burdening Senior Citizens. They won't risk their reputations.

Hope this helps.

Gary

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