Has anyone been successful settling with American Express?

i am very happy with how my settlement process went. and things are goingwell for me now. Its very scary and stressful during the process but afterwards its a great weight off my shoulders.

Now negotiation i would tell them that you can only afford 25% and they should counter offer thats how the negotiation process works. what can you really afford or what for settlement are you looking to recieve?

regretfulspender

Am Ex sued you at 90 days ? That is very fast . I am only about 20 days late with them and I am planning to settle with them. How is it dealing with the CA Zickwicker ?

Are they still negociating even after they filed the lawsuit ?

Are you planning to go all the way thru with the lawsuit to win or are you just trying to get a good settlement

Are you self employed ?

Im hoping to settle with them for 25% - 35%


Do you have any advice for us at 20 days late ?

thanks

Just settled an Amex balance of roughly $25,000 for $2500.00. Settlement of 10% of the balance. My Amex account was 24 months delinquent and had been tossed around from collector to collector.

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just settled $14k for 35% over 6 months with NCO/Amex. Was 75 days late and with NCO for one week.

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I settled with NCO. They were easy to work with. I have heard horror stories with other CA's. Good luck.

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I stated firmly that 40% was too high because I had several others to settle. I OFFERED the 35% and after talking in circles for a few minutes the guy reluctantly accepted. good luck with yours.

So, he offered you 40% at one point. Was that after asking for 100%, and then dropping? Did you just keep saying no, or did you offer him 10%?

For those who settled with NCO shortly after it being sent over, when you settle with NCO does it show up on your credit report that the account was sent to collections and an amount owed/paid to NCO as well?

It's bad enough that you have the missed payments with AMEX and the account is marked as settled, but sucks even more if another negative factor is added on such as separate collections. Thanks!

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AmEx has not yet written off charges, which are at ~$52k with penalties, but I am around 100 days past due, and 70 days since my last payment. I have been talking with ARSI, the CA/Law office AmEx has collecting. They say that they will be forwarding this to a local attorney to file suit unless I pay within 30 days.

Nothing other than full payment has been offered.

I am within the 30 day time frame to ask for DV. Should I ask for DV, even though this has not yet been written off?

We currently are working with a debt consalidation company. American Express sent us to Zwicker and now we are getting sued. LOVELY!!!. We have been to court 2 times and they never showed, just had someone to represent them. We have offered them 2 settlements and they are not budging. So now our case has been sent to trial. It has been a nightmare. We really hope this will be resolved. We have learned our lesson. We do not have a credit card anymore. We just pay cash and have savings.

They took one look at 11 defaults on my cr and settled for 35% at 75 days. They will run lexis reports and see what you own and try to figure out what you make $. If they believe you have assets, then they are more likely to try to get the money. good luck.

Well I???m not a finance expert but all I can say is that instead of debt validation, you can write a Counter Offer Settlement Letter to them. As the debt has not been written off till now so I think you can stretch out for a negotiation with your creditor/CA in response to the full payment offer. Do attach the Debt Settlement Agreement Letter if you???re having it.

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American Express is suing me.

Which I can understand. I was in compliance of my contract while employed, now can only pay the basics to survive.

I know there are a few things that credit card companies do that are unjust but are legal. I can not afford a lawyer and need to write a legal response.

*CAN YOU HELP?*

I know the difference from the law and what is fair, please help me in response to the law. What are my arguments? Did AMEX unjustly benefit from my misfortune in contracted fees?

I do not know. You can email me at [email]markmason@cfl.rr.com[/email] or respond here.






IN THE CIRCUIT COURT, IN AND FOR FLAGLER COUNTY, FLORIDA

CASE NUMBER: 09-2809-CA

AMERICAN EXPRESS BANK, FSB

plantiff,

vs.


MARK MASON

defendent

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COMPLAINT

1) Damages in this action exceed $15,000

2) Plaintiff, AMERICAN EXPRESS BANK, FSB, is a federally charted savings bank (federal Savings Bank) and an FDIC insured financial institution.

3) Defendent is a Resident of FLAGLER County, Florida.


COUNT 1 - BREACH OF CONTRACT

Plantiff repeats and realledges each and every material allegation set forth in paragraph 1 through 3 above and incorporates the same by reference.


4) Plaintiff and Defendant entered into a contract pursuant to which Plaintiff opened a credit card account number 3737-620649-66009 and issued a credit card to Defendant.

5) A true and correct copy of the Agreement applicable to the account is attached hereto as Exhibit "A" and is incorporated herein by reference.

6) Defendant indicated acceptance of the terms of the Agreement (exhibit "A") by keeping, signing, or using the credit card or credit card account.

7) By failing to make payment on the account, the Defendant breached the agreement. The contract was breached on or about 06/13/09.

8) As a direct result of Defendant's breach, Plantiff has been damaged in the sum of $20,114.55 that is due and owing with interest since the date of breach. This balance is subject to increase due to the ongoing accumulation of delinquency charges and interest as provided for by the Agreement(Exhibit "A").

9) Demand has been made for the amount of $20,114.55 , plus interest. Defendant has failed to pay this amount.

10) The terms of the Agreement (Exhibit "A") provide that if the Defendant's account is reffered out for collections to an attorney, the Defendant agrees to pay court and attorney's fees.

11) Plantiff has retained the servicesof the undersigned law firm to represent it and Plaintiff is entitled to recover reasonable attorney fees pursuant to the Agreement(Exhibit "A")

12) All conditions precedent to the bringing of this action have been performed, have occurred to contract, as well as any other relief this Court deems just and proper.


COUNT II - UNJUST ENRICHMENT

Plantiff repeats and realleges each and every material allegation set forth in paragraphs 1 through 3 above and incorporates the same by reference.

13) Defendant purchased goods or services with the credit card issued to Defendant causing $20,114.55 to be posted to the Defendants credit card account, as identified in paragraph 4 hereinabove.

14) As a result of the purchase of said goods and services by Defendant, Defendant knowingly and voluntarily accepted the benefits conferred by the Plantiff of receiving those goods or services.

15) Plantiff has demanded payment from Defendant for the sum of $20,114.55, plus interest, but Defendant has failed to pay said sum.

16) Plantiff alleges that it would be uinequitable for Defendant to retain the benefit of the goods or services purchased by the Defendant without paying the Plaintiff for the chaarges Defendant caused to be made to the subject account.

17) The failure of Defendant to pay the Plaintiff the sums due and owing has caused the Defendant to be unjustly enriched at the expense of the Plaintiff.


WHEREFORE, based upon the foregoing, Plaintiff requests this Honorable Court enter a judgement against the Defendant in the amount of $20,11.55, plus interest, costs and any other relief this Court deems just and proper.

request arbitration, search the forum on how to

I second what MOJO said. Research Arbitration and send letter. PM Maggie22 for advice.

1) I'm sorry to see this happenned to you. They made and offer and settled with me and it does not seem right.
2) Thanks for sharing. This is what we all need to look at as the possible outcome when we don't negotiate to a successful result.
3) Research on the web about response to breach of contract. You can find responses if you are handling the case pro se.

Mark, also why don't you register with this forum? We are all in this together and will be glad to give you support and infomation.

Just received two letters from law firms stating that I was being sued by AMEX. They state the suit was filed on APril 8th. I have not been served as of yet.
This debt is from 2007. Amount $17,250. Last payment 5/2007. I was unemployed for 9 months out of 24. I tried to work with them but they sent it to collections. It has bounced around about 6-7 agencies over the past 3 years. Account is charged off 12/2006. On another report it has it closed on June 2007. Another report has date of 1st major deliquency as 9/2007. That is pretty confusing. How can they have 3 different dates?
Couple of questions:
Can I settle even though they, or someone else, brought a suit? What percentage can expect I settle for?
Just looking for some next steps here. Thank you.

I would call DS Financial they settled my AE account for less than 25 cents on the dollar with American Express directly. They can be reached at 866-833-6398

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I have been informed by AMEX that 9 years ago there was a balance owing on my Corporate Card of $4200. I know nothing about this....when I turned the card into the company the last statement had been paid. Now they are telling me that this Balance of $4200 is still owed! According to AMEX they NEVER write-off an unpaid Balance! This has to be a LIE! They are declining my Corporate Card application due to this "Balance Owing". What can I do at this point?

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If you can work out a minimum monthly payment, maybe even $50. They will usually stop adding late fees and that will buy you time to save money up for a settlement, also it shows them that you are trying to pay, so when AMEX collections workers ask for their manager's approval on settlements they will be able to show that you have been trying to pay. I've done this before and I'm currently working with someone else to help them. Sixty days past due is when AMEX will start to work with you, 90 they are a little more flexible. If you show them you want to do something, even if it is a small amount they will most always work with you.

Its unsecured debt, so they will usually end up taking what they can get. They have already made money on interest for all the years you did make your payments.

Good luck.

Oh yeah, keep in touch with them at least once a month and have them make a note on your record that you are trying to work this out. That helps too.