kernhills Posted December 31, 2013 Report Share Posted December 31, 2013 Hello,I live in California and currently owe Chase approx. 17,000. I lost my job and first defaulted on my payments approx. 3 1/2 years ago. Since that time, my phone rang almost twice a day. I spoke to them a few times, let them know I wasn't in a position to make any payments or settle, but they could check back with me. They were always polite, pressed to make a small payment, but I never restarted payments or the timeline on the debt. Statute of limitations in CA is 4 years.I'm a bit nervous that as of about 3-4 months ago, the phone calls suddenly stopped. I haven't heard from them at all since that time. Does that typically mean my account has entered some other stage? I doubt they've given up. Should I call them back with an update that I still can't make payments and re-initiate contact? I'm hoping they don't sue prior to the debt being uncollectable... Do you think calling them back and staying in communication might make be beneficial to delaying the timeline till they can no longer sue?Thanks for the advice, I really appreciate it!!! Quote Link to comment Share on other sites More sharing options...
Credator Posted December 31, 2013 Report Share Posted December 31, 2013 Hello,...Statute of limitations in CA is 4 years.I'm a bit nervous that as of about 3-4 months ago, the phone calls suddenly stopped. I haven't heard from them at all since that time. Does that typically mean my account has entered some other stage? I doubt they've given up. Should I call them back with an update that I still can't make payments and re-initiate contact? I'm hoping they don't sue prior to the debt being uncollectable... Do you think calling them back and staying in communication might make be beneficial to delaying the timeline till they can no longer sue?...I don't see any benefit in calling them to inform them that payment cannot be made. It seems that if a creditor is going to sue, they are going to sue. I would want to check my court docket and see if they have filed suit but not yet served the summons. Often this information can be found online. Here is a thread speculating on whether Chase might file a suit: http://www.creditinfocenter.com/community/topic/322251-chase-charged-off-alleged-debt-still-with-oc-will-they-be-filing-a-lawsuit/?hl=chase 1 Quote Link to comment Share on other sites More sharing options...
Anon Amos Posted December 31, 2013 Report Share Posted December 31, 2013 I definitely would not call them. You just have to wait and see. It is a little nerve racking when you get this close to the SOL, but calling them won't help. You might look at your credit report and see if they are checking up on you (they usually do that prior to filing suit). If you get credit and start making payments on something, or do anything to make your credit better, that is something they look for which might encourage them to file suit. Trying to beat the running of the SOL can also do that, but that is out of your control. You may want to learn what you can and be prepared just incase. 1 Quote Link to comment Share on other sites More sharing options...
kernhills Posted December 31, 2013 Author Report Share Posted December 31, 2013 Thanks for the great replies, I appreciate the advice. I'm going to read up on the thread mentioned and begin preparing myself just in case. Happy New Years and fingers crossed here for the next six months!! 1 Quote Link to comment Share on other sites More sharing options...
admin Posted January 2, 2014 Report Share Posted January 2, 2014 I echo the sentiments here. Definitely do not call them. 2 Quote Link to comment Share on other sites More sharing options...
NYS of Mind Posted January 21, 2014 Report Share Posted January 21, 2014 I just received a letter from Chase on New Year's Eve on a $3600 account. The letter said they were stopping collection efforts and that I would recive a 1099 for it. 1 Quote Link to comment Share on other sites More sharing options...
credit2011 Posted January 23, 2014 Report Share Posted January 23, 2014 When they stop calling it may mean that they sold the debt to a JDB- just keep reviewing your credit reports closely so that if a JBD reports its accurate or not. If they (the new JDB) sent and or called to tell you they now have this account- If that ends up being the case- then the JDB has to validate it.After they send you something in writing to tell you that you owe, at that point you send them a CCRR letter for a Validation of Debt Letter- they have 30 days to respond. Quote Link to comment Share on other sites More sharing options...
1stStep Posted January 26, 2014 Report Share Posted January 26, 2014 Most likely Chase either sold it to a JDB - most likely Midland... or they are aware of the SOL and may sue. Quote Link to comment Share on other sites More sharing options...
shellieh98 Posted January 26, 2014 Report Share Posted January 26, 2014 Chase isn't selling any accounts at present until they get their mess cleaned up. (Since sept. I believe). That is why they are forgiving all these charged off accounts and sending out 1099's right now Quote Link to comment Share on other sites More sharing options...
ArtVandelay Posted January 27, 2014 Report Share Posted January 27, 2014 Chase isn't selling any accounts at present until they get their mess cleaned up. (Since sept. I believe). That is why they are forgiving all these charged off accounts and sending out 1099's right now Exactly! Chase is only doing this because they got caught and are being now being closely watched. Anyone that is being sued on a Chase account from the last few years should consult with an FDCPA attorney. An experienced attorney could do a little discovery and whoever the "owner" of the account is will probably back down. Quote Link to comment Share on other sites More sharing options...
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