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Chase Bank forgives all Canadian Debt!


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2019 Aug 11, 1:14pm   1,206 views  9 comments

by Shaman   ➕follow (4)   💰tip   ignore  

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1   Patrick   2019 Aug 11, 2:29pm  

"Chase made the decision to exit the Canadian credit card market," said Maria Martinez, vice president of communications for Chase Card Services. "As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit."

The reactions from customers throughout Canada range from shock, disbelief to joy as people who owed thousands on their credit cards had all that debt wiped away in an instant.

"I was sort of over the moon all last night, with a smile on my face," Douglas Turner of Ontario, who owed more than $4,500 on his card, told the CBC. "I couldn't believe it."

Canadian Paul Adamson, 43, whose debt was also erased, told the CBC he originally thought he missed a payment after hearing his account was closed.

"I'm honestly still flabbergasted about it," he said. "It's [usually] surprise fees, extra complications, things like that, definitely, but not loan forgiveness."


Very un-bank-like of them. Banks do absolutely nothing out of generosity. Maybe they had to meet some legal timeline, or they calculated that collecting on that debt was not profitable enough to be worthwhile.
2   Shaman   2019 Aug 11, 4:05pm  

I suspect it had something to do with legal. Maybe a law change in Canada going into effect soon that would make them liable if they still did business there.

Of course the Lefties are pissed that they won’t do the same in the USA...
3   Al_Sharpton_for_President   2019 Aug 11, 4:09pm  

As we have been told that Mexican is a race, clearly Chase's unequal treatment of Americans is racism.
4   LastMan   2019 Aug 11, 5:58pm  

Patrick says
or they calculated that collecting on that debt was not profitable enough to be worthwhile.


That will be it. With business with responsible customers wrapped up well over a year ago, it's only the deadbeats they have left. Odds are the balances left aren't worth maintaining the cross border collection efforts. I wonder if debts can become zombie debts in Canada like they do in the US.
5   FortwayeAsFuckJoeBiden   2019 Aug 11, 6:07pm  

US pay up suckers
6   Booger   2019 Aug 11, 6:09pm  

I would expect them to sell off the debt to some local debt collector.
7   WillPowers   2019 Aug 13, 3:40pm  

Joseph P. Farrell has a good high octane theory on why Chase is forgiving debt:
www.youtube.com/embed/ORNcyKPOBWs
8   Y   2019 Aug 13, 3:45pm  

tell this fucker to condense the fuck into 30 seconds...
9   Y   2019 Aug 13, 3:45pm  

i gotta bail....can't stand the bloviating...

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