Amex settlement offer
Date: Mon, 01/25/2010 - 16:49
I received an offer today from Aegis Receivables Management Inc on behalf of Amex for the settlement on my CC. I already have this card listed on a Chapter 128 (Wisconsin Resident) that allows me to repay the entire balance interest free in 36 months. They have offered to settle for roughly 31% but say they will issue a 1099 for tax time. I am ok with this, however I want to see if anyone sees anything wrong with this offer.
Original creditor: American Express
Current balance: 5253.40
Dear:
This communication is in response to your recent inquiry concerning the above matter. After reviewing this account, we have determined that Aegis will accept $1747.40 as a settlement for the obligations set forth above. The acceptance by Aegis of $1747.40 as a settlement of your accounts contingent upon your compliance with the following conditions:
1) We have already taken payment of 147.40 dated 1/18/2010
2) The remaining payment for $1600.00 must be received in our office at the address set forth above no later than close of business on 1/29/2010
3) Your payment should be made with certified funds.
4) Do not include a restricted endorsement on the payment.
5) Once the above mentioned conditions are fulfilled, this account would be considered as settled in full.
To ensure proper credit, please be sure to note the account number on your payment. Please note, if any of your payment is not received by us before the payment date, contains an unacceptable restrictive endorsement, or is returned by the bank for any reason, your account will not be considered settled. In such case legally authorized interest and fees will continue to accrue on your account.
I already have a certified check drawn for this amount, but since they have a PO box address, I am afraid they will use the " well we didn't receive payment in time, so this offer is not valid...thank you for your $$$" excuse and leave this account open. Anyone have any prior dealings with Aegis? Or offer any advice, it would be appreciated.
Original creditor: American Express
Current balance: 5253.40
Dear:
This communication is in response to your recent inquiry concerning the above matter. After reviewing this account, we have determined that Aegis will accept $1747.40 as a settlement for the obligations set forth above. The acceptance by Aegis of $1747.40 as a settlement of your accounts contingent upon your compliance with the following conditions:
1) We have already taken payment of 147.40 dated 1/18/2010
2) The remaining payment for $1600.00 must be received in our office at the address set forth above no later than close of business on 1/29/2010
3) Your payment should be made with certified funds.
4) Do not include a restricted endorsement on the payment.
5) Once the above mentioned conditions are fulfilled, this account would be considered as settled in full.
To ensure proper credit, please be sure to note the account number on your payment. Please note, if any of your payment is not received by us before the payment date, contains an unacceptable restrictive endorsement, or is returned by the bank for any reason, your account will not be considered settled. In such case legally authorized interest and fees will continue to accrue on your account.
I already have a certified check drawn for this amount, but since they have a PO box address, I am afraid they will use the " well we didn't receive payment in time, so this offer is not valid...thank you for your $$$" excuse and leave this account open. Anyone have any prior dealings with Aegis? Or offer any advice, it would be appreciated.
Well I received a call this morning requesting payment, and I am
Well I received a call this morning requesting payment, and I am afraid to send it with out knowing if this is the right choice. With the chapter 28, it will say "paid as agreed" with a settlement it will say settled as agreed, which is better?
I recently settled with NCO for Amex at 35% of $14k in 6 payment
I recently settled with NCO for Amex at 35% of $14k in 6 payments. Upon receipt of the 6th payment they agreed to advise Amex that it is Settled and that my CR would indicate settled. I don't know about your 128, but if you want to pay in full, that would obviously reflect better on your credit. mine is trashed so I just don't care. Good luck.
