Chase - Stop Paying in 2010.........and still nothing.

snance

LoanSafe Member
Jun 22, 2012
40
0
6
I stop paying my chase card in 2010 and haven't heard word one from them. I was hoping for a 1099C last year ut didn't get it. How many years do they have to still come after me? Do I dare call and ask for a 1099? Please let me hear of your experiences.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
I stop paying my chase card in 2010 and haven't heard word one from them. I was hoping for a 1099C last year ut didn't get it. How many years do they have to still come after me? Do I dare call and ask for a 1099? Please let me hear of your experiences.
Hello Snance,

The statute of limitations on credit card debt is 6 years in Arizona. If it were myself I would continue to make no contact with them until they reach out to you with an offer to settle the account. I'm not sure if you have had the chance to review the following thread, but other members have listed some good strategies they have used to settle their credit card debt..

http://www.loansafe.org/forum/debt-settlement/49604-general-playbook-cc-debt-settlement-3.html

HB 2412 adds a credit card to the type of debt that must be prosecuted within six years after the cause of action accrues.
[h=2]History
[/h]Creditors and debt collectors have a limited time frame to initiate an action for debt (lawsuit) against debtors for nonpayment of credit card bills. That limit is set by a state’s statute of limitations. In Arizona, the statute of limitations for a contract in writing is six years after the cause of action accrues, or within six years of the date the contract went into default (Arizona Revised Statutes (A.R.S.) § 12-548).

Statute defines a credit card as “any instrument or device, whether known as a credit card, charge card, credit plate, courtesy card or identification card or by any other name, that is issued with or without fee by an issuer for the use of the cardholder in obtaining money, goods, services or anything else of value, either on credit or in possession or in consideration of an undertaking or guaranty by the issuer of the payment of a check drawn by the cardholder, on a promise to pay in part or in full therefor at a future time…†(A.R.S. § 13-2101).


 

snance

LoanSafe Member
Jun 22, 2012
40
0
6
My credit report is showing this was charged off Jan 2013 -
does the 6 yrs start from when I made my last payment?
or from when it was charged off?
How do your figure the 'default' date?
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
My credit report is showing this was charged off Jan 2013 -
does the 6 yrs start from when I made my last payment?
or from when it was charged off?
How do your figure the 'default' date?
I believe it begins from the date of your first missed payment.
 

OverandDone

LoanSafe Member
Sep 2, 2011
785
5
18
No charge off just means they wrote it off their books. My brothers friend had a Discover card and the SOL was six years and Discover waited five years and eleven months to file against him. So it's probably not going to just go away unless you settle it somehow.
 
  • Like
Reactions: Martae007

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Discover card and the SOL was six years and Discover waited five years and eleven months to file against him.
Wow what an unscrupulous move they pulled on your brother's friend!!
 

snance

LoanSafe Member
Jun 22, 2012
40
0
6
do you (or anyone else) know what is a reasonable percentage I should expect to settle with? What the bet way...wait it out? call?
 

snance

LoanSafe Member
Jun 22, 2012
40
0
6
How do you find out WHO Chase sold my debt too? I have never been contacted by anyone. I want to Refi my house but can't because of this Chase account. I keep being told to either pay it off or have it removed from my credit report. I don't know who has my debt and I don't know how to go about trying to have it removed from my credit report.....any idea's?
 

OverandDone

LoanSafe Member
Sep 2, 2011
785
5
18
Wow what an unscrupulous move they pulled on your brother's friend!!
I thought so too. She had only a part time job and earned minimum wage and had no assets. When she was served she offered a settlement amount of 25 percent and they refused so she just filed bankruptcy and they got nothing.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
How do you find out WHO Chase sold my debt too? I have never been contacted by anyone. I want to Refi my house but can't because of this Chase account. I keep being told to either pay it off or have it removed from my credit report. I don't know who has my debt and I don't know how to go about trying to have it removed from my credit report.....any idea's?
It MAY list who is handling the debt on your credit report or you can contact Chase and they should provide you with this information.

Here are some tips from the FTC to help remove such reportings from your credit report.

Credit Repair: How to Help Yourself

Helping Yourself

Step 1: Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of any documents that support your position. In addition to providing your complete name and address, your letter should identify each item in your report you dispute; state the facts and the reasons you dispute the information, and ask that it be removed or corrected. You may want to enclose a copy of your report, and circle the items in question. Send your letter by certified mail, “return receipt requested,†so you can document that the consumer reporting company received it. Keep copies of your dispute letter and enclosures.
Your letter may look something like the one below.

Sample Dispute Letter

Date
Your Name
Your Address,
City, State, Zip Code
Complaint Department
Name of Company
Address
City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.

This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.

Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.

Sincerely,
Your name

Enclosures: (List what you are enclosing.)

Consumer reporting companies must investigate the items you question within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it is required to investigate, review the relevant information, and report the results back to the consumer reporting company. If this investigation reveals that the disputed information is inaccurate, the information provider has to notify the nationwide consumer reporting companies so they can correct it in your file.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
I thought so too. She had only a part time job and earned minimum wage and had no assets. When she was served she offered a settlement amount of 25 percent and they refused so she just filed bankruptcy and they got nothing.
WOW with only a part time job and no assets, what is left for them to come after???
 

OverandDone

LoanSafe Member
Sep 2, 2011
785
5
18
WOW with only a part time job and no assets, what is left for them to come after???
I know. She was going to borrow the money from her mother to try and settle. She told them she was filing bankruptcy and they told her to go ahead.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
They probably thought she wouldn't have filed or I'm sure they would have tried to settle to get some money out of the debt. Who knows, maybe they saw her account still on their books and realized they had a month left to try and collect so they threw all their scare tactics out there to force her to pay up.. They should've chosen their words wisely, they didn't get a dime lol..
 

snance

LoanSafe Member
Jun 22, 2012
40
0
6
I stop paying my chase card in 2010 and haven't heard word one from them. I was hoping for a 1099C last year ut didn't get it. How many years do they have to still come after me? Do I dare call and ask for a 1099? Please let me hear of your experiences.
 

snance

LoanSafe Member
Jun 22, 2012
40
0
6
In the state of AZ your creditor has up to 6 years to come after you; I didn't get a 1099C until the 5th year. You should do some checking online to find how long the creditor has to come after you in your state. With everything I researched and all the advise I was given...... I was told DO NOT contact Chase. I was told I was better off holding out in hopes they would send me one. I never responded to any letter I received from them. I went about 3 1/2 yrs with not hearing anything from Chase or from any Attorney. I would wait it out if you can and hopefully it will payoff for you as it did for me. Other downside to all of this is now I have to deal with this on my credit report for 6 to 8 yrs. I guess that is better than having my wages garnished! Good luck :O)