Balance Remains post-settlement
Date: Thu, 12/10/2009 - 07:18
I settled my AmEx account for roughly 35% three months, but still have not received a zero-balance letter. I called AmEx last night to request such a letter and they informed me that while my account is settled, the balance will remain forever.
I was incredulous. According to the rep, the settlement will be reported to the credit reporting agencies and AmEx will no longer pursue the remaining balance, but I can never get rid of that balance. I went back and checked my settlement letter, and sure enough, it doesn't say anything about a zero balance.
What can I do? Am I totally screwed? Will my credit report be forever tarnished?
I was incredulous. According to the rep, the settlement will be reported to the credit reporting agencies and AmEx will no longer pursue the remaining balance, but I can never get rid of that balance. I went back and checked my settlement letter, and sure enough, it doesn't say anything about a zero balance.
What can I do? Am I totally screwed? Will my credit report be forever tarnished?
you can request the reporting agencies to remove it in 7 yrs,, w
you can request the reporting agencies to remove it in 7 yrs,, worth a try, or call and ask for a manager.(AMEX)
This is how I understand Amex settlements to be since you didnt
This is how I understand Amex settlements to be since you didnt pay it in full.
Just curious here but isn't it gone off the credit report after
Just curious here but isn't it gone off the credit report after 7 years anyway? My credit report only goes back 82 months?