american express

Are you sure it has been sold or has it been placed third party? Didnt think American Express sold much of their debt. Plus they do actively sue....international collections is becoming quite common.

i got the letter from american express that my account had been forwarded to a collection agency, so i am not sure if they have sold it to them or not,please tell me the difference between the two and what are the procdures and time frame for collection thanks

Forwarded generally means that an agency is working for them, that they retain ownership.

when the collection agency called i told them about my financial troubles and asked them if they can work out a payment plan for two years but they demanded that i pay about 50 % now and then they will discuss the option for the balance after they recieve the 50% it that correct procdure

The CA's job is to collect the entire balance as quickly as possible.....they can basically do what they want within the law to achieve their goal.

i wish to pay the full debt if i had the amount. but if i cannot then how will they collect what i dont have please explain and is there a way for them to go with a payment plan

if i cannot pay the amount in full will the judge send me to prison for the crime

there are no such things as debtors prison!. They may take you to court, then they will set up a payment plan..no worry

thanks to all that replied thanks