So I went broke for about 4 months and could not pay any credit card company.
My Fico score dropped 200 points and Chase closed my account for non-payment.
I am a college student full time and also work part-time, but I had to pay for college as my first priority.
I did get a loan to help me with my credit problem but it took 3 months to receive it.
Now, Chase was the only company who decided to close my account and that was very unfortunate as I was hoping to pay it out in full and put some of my other cards on it with low apr until I got back on my feet.
Chase was my biggest account at over $6,000 owed.
I called them and they are offering to settle @ 80% of account balance.
I only have $8,000 to spread across all my accounts from the loan and work checks.
Should I pay out my other cards and forget about Chase until they are willing to settle for like 10% of balance? Since they already closed the account and are trying to settle...
What can I do to try and make the best out of a bad situation?
Thanks for any helpful tips you may provide!