I owed Chase about ,000 on the credit card but I couldn’t pay so they wrote it off as bad credit. Now Wamu is switching for Chase, can Chase now take my money from me since I owed them? Should I close my account with Wamu just in case? Thanks.
Additional details: the account that I have with Wamu is joint, plus it is a business account.
yes, I say I have a company and it sounds funny why can’t I pay right? well because we registered the company as we intended to have a business but it is not going anywhere as we need investors like many others who start businesses, so it doesn’t matter if we do have business account if I only got 0 in there that is all. Chase has already wrote off my account as bed credit it is already on my credit report it is already screwed, the only hope that they won’t take my 0 bucks now as Wamu becoming Chase.
Well, I am with wamu and chase sends out promos sometimes a cash benefit for changing, I asked the chase mgr are they still going to be doing that and she said if another promo comes bring it in and the bank will start my new account. They are not mixing account numbers. I doubt they would take the money, they have no court order giving them permission. It would be theft if they took the money, but then again until you pay chase back youve stolen their money.
I wouldnt worry, but I would start paying. Your credit is on the line here and you say you have a company,.
yes cancel it cuase they could take more then wat you owe
I guess you need not close the account with Wamu.
Ouch! I see your point. You mean they wrote it off as a bad debt. But I get it. In reality they probably wouldn’t get the connection. It is just too hard to merge one system with the other. And just so that you have it straight, JP Morgan Chase is acquiring WAMU (Washington Mutual, formerly Provodian) not the reverse. WAMU screwed up. When they bought Providian they dried up their liquidable assets and that was that. They are a bunch of idiots anyway.
Back to your point; you’ll notice a couple of things with regards to their new terms agreement with you. The main thing is their inability to merge records completely. JP Morgan Chase is trying to shove their “information sharing” clause upon anyone and everyone with WAMU. So here come the robocallers. If you read it, they offer no choice of privacy whatsoever. That’s not right. I already wrote the OCC and the BBB about that. I also mentioned to the OCC and the BBB that JP Morgan Chase failed to send us an opt-out cluase. That is flagrantly against the law. Add that to the fact that they are attempting to jack up every card-holders rates 1.5% across the board, and well you know what you need to do. You need to close that piece of trash account with them. They are amoung the worst and trying to be the extreme worst.
In order to opt out, write WAMU at:
Reference CH
P.O. Box 99606
Arlington, TX
76096-9606
Include your name, address and account number. Send it with mail tracking of some sort. Sign that document. Do this well before the March 6th deadline. Today comes to mind.
And do feel welcome to drop a line to the OCC here: http://www.occ.gov
It is obvious that they lost their shirts on the mortgage mess that they created and are trying to make you and I pay for it with increased interest rates. We need all complain. Be sure and mention that JP Morgan Chase failed to offer an opt-out option (if that is the case for you as it was for me). These slimebags are all in a hurry to change their rules while they have a chance. The focus is not on them now. But it soon will be. They bully us by making us think that without the credit, our FICO’s will go down. Poop on them. Try getting a better credit card. At a time when they are getting bailout money for free and borrowing at 0.0%, how is it that Jp Morgan Chase wnats to try and charge us the highest interest rates in history?
Go to www.fatwallet.com and check around for a more competitive rate on a CC that makes more sense.
If you are afraid that you will not qualify for anything else, then call WAMU now and DEMAND a better interest rate. Insist upon speaking with a Supervisor. The Supervisors are the ones that do not have the Philipino accents. Sometimes they try and pass it to their co-worker and say here is my supervisor. Don’t fall for it. They are all idiots until you get to the Texas people. Then get that better rate. That works about half of the time.
Good luck.
I would because Chase is really a dirty company from my point of view.Just to be on the safe side move the account.