Re: Question on Settlement offer

Posted by momtomat (68.23.86.234) on February 18, 2004 at 18:42:36:

In Reply to: Re: Question on Settlement offer posted by Why Chat on February 18, 2004 at 15:00:47:

Thanks so much for the replies!...

In 2001 the limit had been lowered, which then made the card over the limit. At the beginning of 2002 we went on a payment plan for a lower interest rate and 80.00 payments for a year! We could afford that. Then at the beginning of 2003 they raised the interest rate and our monthly payment skyrocketed. I made 2 payments over the phone in July/August of 2003 and that is it. There are late/overlimit fees galore!

We have a capital one account that is currently over the limit but I am working hard with them to pay it down (balance is like 500). And then we have a Chase Card with a balance of like 1000 (account closed a year ago) that is currently caught up with no missed/late payments in about 15 months.

What is the likelyhood that they will sue us over this 5000.

Any thoughts is greatly appreciated since I am stressing out over this!

Thanks again

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