Chase ASSIST

[howdidithappen]

Got an "offer" in the maill today from Chase to participate in their ASSIST program to get me back on track and to lower my interest rate. Anybody talked to these people? I'm nervous to do so.

[BkinTX]

Credit card companies don't want to *help* you. But I have no experience with Chase's ASSIST program, so never mind me.

[optimistic1]

Well atleast they're trying to make some attempt at keeping the debtor stuck in the hole.

What are your plans then if you don't wish to speak with them?

[Ifonly]

They're a real program...we did it before we realized we had to file BK. They took two of our Chase cards and put the interest down to 6% on both and had us making minimum payments of about $115/month on each (both balances exceeded $10K). problem is the program only last for 12 months and they'll want permission to take the payment from your banking account every month. They didn't give me a hard time when I cancelled the auto pays however. Just told them I was switching bank accounts and that I would call back with a new bank account. Of course I never did since I was filing.

[optimistic1]

i knew there was a catch, there always is!

[treehugger1]

Citi gave me a similar offer a couple of years ago. Only their offer was 0% for 12 months. After several months of attempting to make payments, I realized I was throwing good money after bad. It was NEVER going to get paid off.

If you are bankrupt, then paying unsecured creditors won't help your near-term financial situation.

If you choose not to make any arangements then you will have two bankruptcy scenarios.

1) FIle for protection under your state and/or federal BK laws and walk away after a discharge.

2) Don't file for protection, walk away, and deal with the potential of lawsuits and your state laws related to defaulted debt. Let the court system take its natural course.

I made the mistake over a year ago of thinking that most of my creditors would work with me. It only took a couple to say no and push me off to collections. One went to small claims and 3 acounts went to judgments with wage garnishment. I don't know what other debts you may have, but if you can;t get everyone to work with you, you may just be throwing your hard-earned wages, pension, unemployment, etc away.

Suppose that you walk away? Eventually, if the going gets too rough, you can file for a formal bankruptcy and close the doors on everyone.

[Rob517]

They're a real program...we did it before we realized we had to file BK. They took two of our Chase cards and put the interest down to 6% on both and had us making minimum payments of about $115/month on each (both balances exceeded $10K). problem is the program only last for 12 months and they'll want permission to take the payment from your banking account every month. They didn't give me a hard time when I cancelled the auto pays however. Just told them I was switching bank accounts and that I would call back with a new bank account. Of course I never did since I was filing.

Chase also sent me a "program" offer that lasts 60 months and will "wipe away all my cc debt." I did not participate. Filing Ch. 7 soon.

[howdidithappen]

I have three accounts with Chase - they're all for amounts around $1000. Due to high medical expenses, I have quite a bit of debt.

[liz417]

I called Chase over a year ago looking for help, but they couldn't do anything I'm glad they are on the ball now, at least trying to help people avoid bk.

[747LUVR]

Next time Chase sends me another ASSIST letter, going to ask them to send more ASSIST letters, running low on tp around here.