Ask Experts Questions for FREE Help !
Ask
    dizzydigits's Avatar
    dizzydigits Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 21, 2009, 08:32 AM
    JP Morgan Small Business Loan Summons
    I received a summons from JP Morgan Chase regarding a small business loan that has become delinquent. This loan started as a line of credit and then converted over to a pay back loan which raised my payments to over 3 times what I was required to pay each month. I called Chase to see if they could help me. Each time I was told to wait to hear back. So I didn't make any payments. Now I am told it's too late to do anything and because it was a government loan to begin with, they cannot honor my request for a specific payment amount each month. Now I've received this summons. To make this legal issue go away I'd rather struggle to pay this loan. How do I answer the summons? I have 20 days. Do I need to have an attorney do this or can I do it myself? Chase indicated the Loan Recovery department would be contacting me. I don't want to wait to hear from them. I want to get going on this. What is the best way to handle this?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 21, 2009, 09:05 AM

    Contact Chase and offer settlement terms.
    dizzydigits's Avatar
    dizzydigits Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Nov 21, 2009, 09:24 AM
    Who do I contact at Chase, the Loan Recovery Department? Also, I still need to answer the summons, as it indicates I have 20 days to do so, correct? Is that where I indicate my settlement terms? Would you advise me answering the summons myself by getting the form from my local county office or would you recommend having an attorney do this?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Has anyone heard of the small business loan for ex-convicts? [ 1 Answers ]

Before I was released from prison I was told about a small business loan that ex-convicts for apply for and most likely get. Its been a few years since and I have lost track of any or all paper work that I had on it. I don't know where to get the info from or what to do exactly. So if anyone could...

I need a small business loan! [ 2 Answers ]

My name is Debbie . I am 45 years old and a convicted felon. I had researched the "law Library while incarcerated and found I am eligible for a small business grant/ loan. I have started a small construction /handyman service and would like to expand. Any suggetions on how to apply would be greatly...

Where to find a small business loan with bad credit [ 1 Answers ]

Hello, My Husband and I recently decided to go back into the Auto Body Repair business. He has been doing this for 30 years, he also has had 2 shops in the past that he rented the buildings, he has several used car lots he does business with and several customers. Here is our problem, the building...

PAY Day Loan - Gone to Small Business Court [ 2 Answers ]

Hi, Need some professional advice. Took a pay day loan 6 months ago for $750 which I could not pay but now after all these months the company has filed my case with small business court here in Toronto, CANADA. They are asking for $1500 now which includes NSF,Legal,interest charges etc. What...

View more questions Search