DIY Settlement Chase & Amex

Good question. I fear I will have to do this soon with Amex. Atleast I hope they will settle

I'd love to hear about AmEx as well...

Can anyone who has settled with these cards please share their progress? Sounds like there are several members anxious to hear. Thank you

I settled a $10,000 account with Chase at 20%, but it was through a program (after 10 months of non-payment). I had enough funds in my account to pay it in a lump sum. I do not have a AmEx card, but am curious as well as I have not ready ANYthing about AmEx settlements at all.

Has anyone recently gotten a settlement offer from American Express?

I just settled with AMEX yesterday through a debt settlement program for 36% of the balance after 5 months of no payment. I had heard AMEX was one of the more difficult ones to work with so I was suprised when they told me. This was my first account to settle so far.

Has anyone gotten under 50% with Amex doing it on your own?

Amex offered 55% since beginning....however...they sued me because I said I couldn't pay that now my lawyer thinks he can either win the entire suit or most likely settle less than 30%...good luck all!

800 on 2200 with AMEX through NCO on my own.

I settled my AX card of $35k for $15k through FreeStar Financial.

Settled a $3,000 Chase account for $1,200. Working on AmEx as we speak. Everytime I try to call them though, their system is either down or I can't understand the person I am talking to.

I just settled a $10,000 account with AmEx for $6000, to be paid in 3 payments. They sent my account to Zwicker and Assoc., and they were definitely going to sue me. I may have been able to hold out for a better rate but I am terrified of being sued. My understanding is that there is no rule of thumb for AmEx; it all depends on ??????? Try to do your haggling near the end of the month...they are more likely to offer lower rates to meet their monthly goals.

Anyone have a comment on whether or not Amex tries to sue if they think you have something to lose...a house, car, etc.? I already lost my house and had a reduction in salary so there isn't much to get from me. I'm hoping for a very low settlement. What do you think?

I think AmEx is more likely to sue if they know you have a stable job. I don't think assets or owning a home has too much to do with it. If they think you have $$$ coming in, it is worth it for them to push forward to sue. Being sued is a very successful scare tactic. I wonder how many people end up settling because of being sued...the percentage is probably very high.

Thanks - that is interesting. Is there anyone out there who was working at the time they got a settlement offer from Amex? I now have a stable job but I also have 90M in credit card debt I'm trying to settle on so I don't have to file bankruptcy.

I have a stable job and a home. AMEX setted with me for 36%. However, I went through a settlement program.