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AMEX - Zwicker settlement agreement

Date: Thu, 04/01/2010 - 18:47

Submitted by anonymous
on Thu, 04/01/2010 - 18:47

Posts: 202330 Credits: [Donate]

Total Replies: 3


Hi everyone - Zwicker has sent me a settlement agreement listing the debt as $18K (over 8K in fees and interest). I have 10 days to respond. When I talked to them previously, they were completely unwilling to settle for less (it was at $12K at the time). Is there any hope for negotiating with them? If I offer to settle for a third and they go to 50%, will they agree to a payment plan? My savings is cleaned-out, my 401K is gone. I've been unemployment for 18 months of the past two years and am not currently working. I'm having to sell personal items now. Other than my car, my only asset is my house (there is equity) along with a big mortgage.


See, you can't be forced to accept any settlement offer. If you're not happy with the settlement amount, you may counter with an offer.

However, you must first confirm whether or not Zwicker can attach fees and interests to the debt. Most often the CAs are not authorised to add any fees to the collectible amount. Check out your contract papers with Amex.

I'd suggest that you read more about the collection agency before dealing with them. It would give you some idea. Use the search box of the site and type in the name, Zwicker and Associates.


lrhall41

Submitted by SC on Sun, 04/04/2010 - 21:06

( Posts: 3937 | Credits: )


Quote:

Originally Posted by Anonymous
I would call DS Finacial at 866-833-6398 they settled my AE account and others for 22 cents on the dollar. Don't let these guys intimidate you.


I would do it yourself, as I did with great success. It is not only empowering, but when it is my life at stake, I want to be the one making the calls...not a third party.


lrhall41

Submitted by dantheman on Mon, 04/05/2010 - 10:39

( Posts: 860 | Credits: )