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Settling for 10% with OC?


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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.

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