📧 from Maria Rascon
Hi Logan,
I understand your concern regarding your personal credit profile. The business loan we service in this department (account ending in 4001) is not reported to consumer credit bureaus at this time. Based on the email you sent dated August 15, 2025, it appears to be a JPMC credit card that may be impacting your bureau score. Credit card accounts are serviced by a different line of business within Chase. Unfortunately, I do not have access to details relating to credit card credit accounts or credit bureau reporting information for those accounts. Please call the number on the back of your credit cards to have any concerns addressed. I have confirmed that the installment loan referenced is not impacting your personal credit bureau score.
Regarding the installment loan:
The account is 165 days past due as of today for March, April, May, June, July and August payments. I encourage you to research the consequences of a defaulted Small Business Administration (SBA) loan. It is in your best interest to avoid SBA repurchase on this account if at all possible.
The total amount due on your account as of today is $5,871.90 (excluding late fees of $244.65) for the past due payments referenced above.
I have outlined 2 potential options to assist you below. If you intend to pursue either option to see if you can be approved, a minimum payment would need to be made today in the amount of $2,000.00. This amount would advance your due dates for March and April. It would also temporarily prevent SBA repurchase and allow some time for me to work with you to see if approval can be obtained for your preferred option.
If you do not intend to pursue possible approval for one of the options listed below, please pay the total amount due of $5871.90 to bring your account current today.
The upcoming September payment will be due on September 23, 2025 and is not included in the total amount due listed.
Potential assistance options for this loan:
If you are able to pay $2000.00 today to lower the delinquency and avoid SBA repurchase at this time, there are 2 options you can consider. Both options require business and personal financials supplied to Chase for consideration. Both options are subject to approval and not guaranteed.
Option 1: Settlement- This option would require a lump sum offer that must be paid within 30 days of settlement approval.
If you choose to pursue this option, I will provide a list of business and personal financials needed for consideration. In addition, we would need a written settlement offer from you that includes the following information:
Reason(s) you are requesting debt forgiveness
Source of funds
Settlement offer amount
The payoff on your loan as of today is $36,302.21 with a per diem of $14.15221.
Your settlement offer amount should be as close to the payoff amount as possible to increase the likelihood of approval.
No personal or business financials would be required for the settlement option if you can commit to paying 85% of the current payoff within 30 days of today.
85% of today’s payoff is $30,856.88. Although no financials would be required, we would still require a written settlement request that includes the information listed above.
If we come to an agreement on the settlement offer and the funds are paid by the deadline provided, Chase would not hold you responsible for the forgiven debt amount.
However, there could be tax implications since a 1099 could be issued for the balance forgiven. You should seek guidance from a tax consultant if this is a concern for you.
Option 2: Modification- If there is a modification product available for your loan that could lower your payment and extend your loan term:
Personal and business financials would be required for modification consideration.
If you choose to pursue this option, a list of business and personal financials are required for consideration.
If this is your preferred option, please let me know so I can make the referral to our modification team. They will reach out to you with the list of what we need.
Once all required financials are submitted, you will be notified of the decision. If approved,
Considering the severe delinquency on your account, time is of the essence. We are already in process of processing the account for SBA repurchase submission. It is important payments are made immediately to lower delinquency, avoid repurchase, and allow time for us to work with you.
