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Marie T · 07-01-2009, 09:56 PM

Cliff ~ Thanks for the info. From my research, I plan to do the debt settlement but not pay a company to do it. It was really hard to come to that decision and now I wish we would have done it a long time ago. We owe B of A about $40K so if they would settle for about $10 or $12 K that would be great. I know if you hang tough you may be able to settle for 10%. I think I will look at it more like they have made a huge amount of money off of us in interest all these years - because I still feel crummy about it and will really feel bad when our credit is totally ruined! I have to keep saying "this is temporary" and not what defines who we are!

As far as the cc collectors calling 3 or 4 times a day, from my research I read that you should not ignore them, but do not talk to them every time they call or you spend your life on the phone. Always be polite, state the facts but do not put up with rudeness.

How in the heck did they get your mother's phone number? My mom lives in another state and has no idea that we are in financial trouble - I would never want to worry her as I'm sure you did not either. It was bad enough for her when I was really sick and my husband had to call her because he though it would be worse if I died without her being somewhat prepared for it.

The tough thing will be saving up the money so we can settle because of course we need it for the mortgage and the property taxes are due at very latest in September. Last year, I paid them the day after they advertised it for tax sale and I am so angry because they still owe me the difference between what I had it reduced to and what I paid - about $3,000 - for 2005. They finally refunded me the difference for 2006, would not "apply it" to last year's taxes and I did not get it until almost two months after I paid last year's taxes although they did pay interest!

Snapple ~ I have two cc's that are Chase/Wamu too - not sure how that is going to pan out - you know they will see it on credit report. All WAMU/Chase together maybe another $25K.

I called today to try to modify car payment with credit union - this will be worse than home loan mod!! They want everything that you need for home loan mod plus they told me they really look at your checking account and they do not want to see any "eating out" (they won't) or that you have $200 cable/cell phone bills (that may be a problem but I'm working on it). They also said they will look at credit report which will now be a huge problem. We're thinking of trading the car in on a really cheap lease for half the payment before my husband's credit gets hit with the late cc payments. I know we can't sell it for payoff and of course they will let us turn it in, sell it for "whatever" at auction and come after us for the difference.

No good answer here. My husband had to be on the car call because it is only in his name and he said this is rediculous ...why do you have to do all this....if he only knew everything I have already done for home loan mod!!! I only give him the highlights!

07-01-2009, 09:56 PM	#155 (permalink)
Marie T Senior Member Join Date: Apr 2009 Posts: 490 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WaMu/Chase Mod Moving Forward Cliff ~ Thanks for the info. From my research, I plan to do the debt settlement but not pay a company to do it. It was really hard to come to that decision and now I wish we would have done it a long time ago. We owe B of A about $40K so if they would settle for about $10 or $12 K that would be great. I know if you hang tough you may be able to settle for 10%. I think I will look at it more like they have made a huge amount of money off of us in interest all these years - because I still feel crummy about it and will really feel bad when our credit is totally ruined! I have to keep saying "this is temporary" and not what defines who we are! As far as the cc collectors calling 3 or 4 times a day, from my research I read that you should not ignore them, but do not talk to them every time they call or you spend your life on the phone. Always be polite, state the facts but do not put up with rudeness. How in the heck did they get your mother's phone number? My mom lives in another state and has no idea that we are in financial trouble - I would never want to worry her as I'm sure you did not either. It was bad enough for her when I was really sick and my husband had to call her because he though it would be worse if I died without her being somewhat prepared for it. The tough thing will be saving up the money so we can settle because of course we need it for the mortgage and the property taxes are due at very latest in September. Last year, I paid them the day after they advertised it for tax sale and I am so angry because they still owe me the difference between what I had it reduced to and what I paid - about $3,000 - for 2005. They finally refunded me the difference for 2006, would not "apply it" to last year's taxes and I did not get it until almost two months after I paid last year's taxes although they did pay interest! Snapple ~ I have two cc's that are Chase/Wamu too - not sure how that is going to pan out - you know they will see it on credit report. All WAMU/Chase together maybe another $25K. I called today to try to modify car payment with credit union - this will be worse than home loan mod!! They want everything that you need for home loan mod plus they told me they really look at your checking account and they do not want to see any "eating out" (they won't) or that you have $200 cable/cell phone bills (that may be a problem but I'm working on it). They also said they will look at credit report which will now be a huge problem. We're thinking of trading the car in on a really cheap lease for half the payment before my husband's credit gets hit with the late cc payments. I know we can't sell it for payoff and of course they will let us turn it in, sell it for "whatever" at auction and come after us for the difference. No good answer here. My husband had to be on the car call because it is only in his name and he said this is rediculous ...why do you have to do all this....if he only knew everything I have already done for home loan mod!!! I only give him the highlights!