Sometimes you really have to wonder about the intelligence of companies like Chase. I was executor for an estate where the woman died partially insolvent. That is, Chase wound up settling for about 11-cents on the dollar because that was all there was left in the estate under Georgia law.
Signs of their intelligence? The first thing they asked me once they had the death certificate and executor order was, “Would you like to transfer this debt (about $28k) into your name Mr. ___?” Yeah right, like I was born stupid. NO – it is not my debt. I did ask her what she was smoking and could I have some.
The yesterday, I receive 2 IRS forms 1099 (there were 2 credit cards) for the portion forgiven. Now just what do they think I am going to do with these? The estate was partially insolvent. Even if I did have to file an Estate Income Tax return, which I don’t, these are useless. Who is going to pay the tax on them? If there was money, they would have gotten more money.
Anyway, just keep this in mind when dealing with Chase, they lack serious intelligence. Pretty sure those 1099s were just computer generated and I’d imagine by law they have to send them, its between you and the IRS if you need them for anything. Unfortunately, they have to try to get their money. I’d think they would lack intelligence if they didn’t. Its business. lol