Settlement Offer Letter to AMEX - Opinions Please
Date: Tue, 04/07/2009 - 16:33
I received a letter in the mail on AMEX letter head. It is a 60% offer letter that states you must call 877-354-8148 to accept. I get calls several times a day that states to call this number as well. I never get through to a live person and have left many messages. I did some research and found out that the PO Box belongs to a geological company and the phone number to Nationwide Credit Services. This is so deceptive. I've decided not to deal with them since I now do not trust them and have written an offer letter directly to AMEX. Below is the letter I've written. Any feedback would be greatly appreciated!
American Express
P.O. Box 981535
El Paso, TX 79998-1535
RE: Account No.
Dear Sir/Madam,
This is to bring to your kind notice that I sincerely tried to respond to a letter written on your letterhead asking me to call 1-877-354-8148 to settle the above referenced account number. I left numerous messages but never received any response except those generated from a computer.
I want to settle this debt issue but due to poor financial conditions caused not only by Hurricane Ike but also to medical expenses it has not been possible. I have a heart condition that has only been partially diagnosed. I do not want to declare bankruptcy and would like to try and work out a settlement of the debt for the account number mentioned above. My earnest gratitude for your efforts in advance and I would like to take this opportunity to sincerely thank your company in helping me resolve this issue.
I have been able to borrow some money from family. The amount I am suggesting to settle this debt in full is $xxxx.
I have several other companies to conduct debt negotiations with and have limited funds at my disposal. I will be able to pay only those companies who are willing to agree to my proposal. I have reached a settlement with a few creditors and am undergoing the process with the others.
If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $xxxx in exchange for a full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement.
If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgement, I will promptly send you a money order or cashier's check in the amount stated above.
The alleged debtor, DEBTOR, does not admit liability for the claims made by American Express. The purpose of this settlement is merely to avoid the potential future costs of litigation. Both parties agree that this settlement for $xxxx of the disputed debt shall be confidential and in no way an admission of liability or acknowledgement that the debt is valid.
Both parties agree that no future reporting or verification of the alleged debt shall be provided to any credit bureau.
Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below you agree that the debt has not been renewed nor have any concrete written agreements been exchanged.
Creditor's Authorized Signature: ________________
American Express
P.O. Box 981535
El Paso, TX 79998-1535
RE: Account No.
Dear Sir/Madam,
This is to bring to your kind notice that I sincerely tried to respond to a letter written on your letterhead asking me to call 1-877-354-8148 to settle the above referenced account number. I left numerous messages but never received any response except those generated from a computer.
I want to settle this debt issue but due to poor financial conditions caused not only by Hurricane Ike but also to medical expenses it has not been possible. I have a heart condition that has only been partially diagnosed. I do not want to declare bankruptcy and would like to try and work out a settlement of the debt for the account number mentioned above. My earnest gratitude for your efforts in advance and I would like to take this opportunity to sincerely thank your company in helping me resolve this issue.
I have been able to borrow some money from family. The amount I am suggesting to settle this debt in full is $xxxx.
I have several other companies to conduct debt negotiations with and have limited funds at my disposal. I will be able to pay only those companies who are willing to agree to my proposal. I have reached a settlement with a few creditors and am undergoing the process with the others.
If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $xxxx in exchange for a full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement.
If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgement, I will promptly send you a money order or cashier's check in the amount stated above.
The alleged debtor, DEBTOR, does not admit liability for the claims made by American Express. The purpose of this settlement is merely to avoid the potential future costs of litigation. Both parties agree that this settlement for $xxxx of the disputed debt shall be confidential and in no way an admission of liability or acknowledgement that the debt is valid.
Both parties agree that no future reporting or verification of the alleged debt shall be provided to any credit bureau.
Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below you agree that the debt has not been renewed nor have any concrete written agreements been exchanged.
Creditor's Authorized Signature: ________________
You are right in tryin to settle directly with AMEX rather than
You are right in tryin to settle directly with AMEX rather than Nationwide. You should however also send Nationwide a letter stating that you do not owe the monety to thenm and will only deal with the original lender. I once paid monthly payments to a collector for Amex who made me think they were Amex. When I overdrew my account do to a Payday loan mess Amex took my account back. They had no record of any money paid to the collection agency! Beware!
how late were you when american express sent you this letter? i
how late were you when american express sent you this letter? i am not late yet but i want to settle my account with them. i owe 5,255 and i am even willing to close the account...