Chase Card Services is one of the key participants in the new debt management plans being offered to consumers. The assistance program, which is being supported by multiple banks and credit card companies, goes by the name of Call to Action.
Here is an example of how this plan would provide you with some breathing room and debt relief if you qualify for it. Say for example you owe JP Morgan Chase $20,000 on your credit card. Under this DMP, your monthly payment would be only $400 in the regular Chase Call to Action DMP and $350 in the hardship debt management program, both of which are a major reduction from the typical payment you would otherwise need to make. According to a statement from Chase, last year the bank provided assistance, modifications, and different types of DMP options to almost 700,000 credit card accounts in an effort to assist customers with their debts.
Some background on this program is that as of March 31, 2009, the top 10 credit card issuers across America, including Chase, have all agreed to implement numerous changes necessary to provide both a more affordable Standard Debt Management Plan and a Hardship DMP. This is being offered to eligible consumers who need help getting out of debt and are seeking to avoid bankruptcy. The program is really targeted at those who do not have sufficient household income to qualify for a traditional DMP.
The key elements of the Chase Call to Action DMPs is that it will allow individuals and families to maintain a reasonable monthly budget. The goal is to allow consumers enough flexibility so that they can pay both their standard bills and debts, it will help them establish a savings account for financial emergencies, it will make fixed monthly payments that consumers need to make more affordable, and it will allow people to be out of debt within 60 months.
As you can see, Chase may offer an interest rate on your credit card balance as low as 2% if you qualify for the hardship program. That is an incredible offer. If you do not have any success in getting this rate from Chase, look into a debt settlement company or a credit counselor who may be able to negotiate on your behalf. More.
The DMPs currently being offered by Chase / JPMorgan are targeted to help Americans during these difficult economic times that our country is facing. The offers may not be around forever, and some of the program terms may change, so you need to take advantage of the debt assistance being offered by Chase today. Dial 1-800-432-3117. Do not hesitate.
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