Hi, new to the community and i saw some Amex post.
I currently owe about $1,200 on a old amex card that was charged off years ago. I got a settlement letter from them and was considering to settle but decided to pay off the full balance.(they don't know it yet)
I want to pay in full so the CHARGE OFF on my credit report can change to PAID IN FULL. Now can i trust that if i pay off the balance they will do this? I tried to get it in writing and the rep is trying to work with me but he can only send me a letter letting me know the balance to be paid off in full.
Has anyone out gone through this and it all came out as described?
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.