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I Owe Chase Credit Card Debt.

I owe Chase Visa almost 12K. If I pursue debt consolidation, will it ruin my credit? I have great credit and can make the monthly payments but do not wish to be paying on the credit card for the rest of my life!


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  • Jim lenhart

    I also owe Chase44k. Used this credit for small business. Sold business and now cannot make 560.00 a month payments.

  • Aaa

    Is the 12k your only credit card debt?  If so, what will you consolidate it with?  Will consolidation lower your interest rate, allowing you to pay off your entire debt more quickly? My experience has been that Chase isn’t particularly interested in working with their customers to reduce interest rates, as we had great credit, great payment history, and in one month had both our interest rate raised and our credit limit reduced, triggering late payment fees.  We finally wound up doing a balance transfer to another card with a lower rate and working to make extra payments to pay off the balance more quickly.

  • guest

    I too have a large credit card debt. I don’t want to be paying for the rest of my life either. If your credit rating is good and you are making your payments on time, there may be other options with other creditors for 0 – small percentages on the transfer of funds. I suggest you look into those before using consolidation companies. If you choose to consolidate, be sure the company is legit. I’m not sure about the credit being harmed when using consolidation methods.


  • SPC White Daniel

    Most of the time Chase will be a little understanding and you can setup a better payment plan with them. Consolidating in general shouldn’t hurt you score too bad, if any. I would just cut back some spending habits or the little things in life and increase the monthly payment to make the payments get smaller over time. Hope it helps!

    • Nbgibbs

      Even making larger payments I have not found Chase willing to lower interest rates. Who do you ask to speak with? What is best approach?

  • J.C.

    I called a debt consolidation firm a few yeras ago and I was told that my credit will be effected so i didn’t go forward with it.

  • Kissandtell

    I  also owe on credit card debt and yes, consolidating does ruin your credit.  I feel that since I joined a consolidation company that I’m just wasting my money away.  They only paid off one card for me at $1200 and I have spent over $4500 on my payments to the consolidation company when i should have paid the credit card companies directly.  Lesson learned and hope I am NEVER in this situation again!!!! 

    • Steve Rhode

      I think you may be using the term “consolidating” in a broader context and suspect that you did not get a debt consolidation loan. What kind of program are you in?

  • Saber2thdtiger

     I too had a chase card and they out of most of the others seem very willing to negotiate pay off amounts, contact them to see what your options are for paying off the debt. My only other suggestion is to double up on your payments so your not paying on them forever. Good luck

  • Anonymous

    I had 785 credit rating just last year..this year I will need to file for bankruptcy.
    I used lose sleep over this but now let them call dont care for my crdit rating anymore. I will file and try to rebuild

  • Anonymous


    Not sure I understand your question……you listed one debt, the chase Visa with 12k. What are you going to consolidate that with?….more info would help us answer your question.

  • Anonymous


    Not sure I understand your question……you listed one debt, the chase Visa with 12k. What are you going to consolidate that with?….more info would help us answer your question.

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