Submitted by a Homeowner on LoanSafe.org
Chase called again..
Received another call from Chase but he did not identify which department he was calling from. He explained that he wanted to see if we could make payment arrangements to get the account up to date.
I explained that Chase is responsible for the mess I am in because they terminated my HELOC and the only possible solution at this point is to restore my HELOC to the initial amount, waive all fees and then I would resume payments.
He said that he could not do that because, “we have an obligation to protect our shareholders. I’m sure you can understand the risk we would take if you failed to meet your obligations in the future.”
hahahahahahahahahaha
oh. Sorry.. I don’t think I was suppose to do that outloud.
I responded, “Of course! The shareholders at the Bank of Dave thank you for your call.” and I hung up.
7/6/09
Chase HELOC no longer available
I am officially 90 days past due on my mortgage and HELOC. My online access to my Chase HELOC ceased to be available on 6/30:
Account Details
Limited Access to Your Account
Issues with your account are limiting your access. Please call Customer Service at 1-888-215-2800 for more information. Or, find out how to resolve these issues online. Note: If you have a construction loan, please call 1-866-213-0264, option 3.
Credit Cards Maxed
Chase – 0 available of 2300
Chase – 300 available of 1100
Chase – 40 available of 2500
Bank of America – 0 available
Home Depot – 40 available of 2500
Wow.. I worked hard to max out all those cards! Target, Safeway, Home Depot and Ritz Camera appreciate Chase’s donation to their shareholders!
Home Depot has scheduled delivery of my 50″ Panasonic TV for next week. It is so beautiful!! *sniffles* Thank you Citi!!
Decisions to pay…
I canceled my payments for my Chase credit cards. The largest shareholder at the Bank of Dave has decided he needs to protect the interest of his shareholders and that does not include spending money unnecessarily even if he does feel a bit guilty about that decision.
I am sticking by my decision not to pay Bank of America a dime.
I am leaning towards paying my Home Depot card unless the status of my account changes. The TV is 12 months with no interest and no payment. I bought a $1000 Home Depot card and spent another few hundred dollars on others stuff for the new house.
If Citi honors its commitment to me (in the form of a $3500 emergency fund and a 50″ Panasonic TV) then I am happy to honor my commitment to them.
The Calls Continue
The calls from Citi and Chase continue but no further action.
Questions about Bankruptcy
I am beginning to think about the next step in this mess. I know my 401k and IRA are both protected by law during bankruptcy and I believe I qualify for $150k homesteader exception for the new house.
Would I qualify for bankruptcy if I made $4k/month and Chase filed a $50k lawsuit against me? I am determined not to let them get a dime so I assume I would quit my job and file for bankruptcy to prevent them from garnishing my wages in the event of a lawsuit?
Anyone been sued by a bank or collection agency during the last couple of years? Did they get a judgment?
Any thoughts on the topic would be appreciated.
