Chase

[laurannm]

I read a post on another forum that lately Chase has been very aggressive in getting legal action together against defaulting debtors (I.e. legal action after only a couple of months)

Anyone had any experience with them recently?

We aren't even 30 days late yet and they call my house 4-5 times a day

[shado1021]

I don't have Chase cards anymore, but I did last year. I seem to remember the calls starting within a couple of weeks after I missed my payment. They liked to send letters too.

I have two Discover cards that had payments due 5/18 that I didn't pay. I had 9 calls today from them. The fun is just starting.

[keepmine]

It's rare that a large creditor will sue after only a couple of months into default. I'd wager you have 6 months or better before anyone takes legal action- {if then}.

[HHM]

I agree with Keepmine, they generally won't sue until the 6+ month mark. It's not unheard of that they could sue quicker (I have seen MBNA sue in 4 months), but on average, you have a minimum of 6 months before legal action is taken.

[magyar123]

Of course they're getting quicker into filing suits. They want their money now, or before the inauguration of either Clinton or Obama, and a Democrats controlled Congress overturn some of the creditor friendly provisions of the 2005 Bushleague bankruptcy laws.

[AtWitsEnd]

Well the democrats have the House now and they didn't seem to bother doing anything about the bankruptcy laws, I wouldn't hold my breath.

[danaf]

It takes 3/4 of both the House & the Senate to veto a law that the President wants to effect.

If the creditors sue - just file bk sooner.

[sisterfunkhaus]

Well the democrats have the House now and they didn't seem to bother doing anything about the bankruptcy laws, I wouldn't hold my breath.

The Republican president would veto the bill, so it would be a waste of time to try to push through now. Congress knows that... They would need a 3/4 vote to override. It isn't going to happen.

[Stilltheone]

I have had experience with Chase...and they're horrible.

We had TWO accounts with them. After being 2 days late, they called us up to 20 times a day....both home and cell phone....it was ridiculous.

Luckily, we filed within the first month of missing our payment, so we didn't have to ignore the calls that long!

Good luck!

[screwedupbyRE]

here's the general timelines for creditors to come after you:
after 7-15 days of late payment, they start calling you
after 160 days, it goes for collection
after 200 days, you can be sued.

I got this info from Chase and Patelco Credit Union.

[momof5]

We have 2 cards that are handled by Chase. We stopped paying February and as of last Thursday they were still ' in house' as they say. Meaning they havent even sent it to a collection agency as of yet. So we are almost to the 120 day mark with them.