Dealing with Amex/Zwicker
Date: Tue, 05/04/2010 - 07:28
We (my wife and I) have three cards with Amex; two in my name. Only one of these cards was, at least as of today, referred to Zwicker. We received three separate account cancellations from Amex last week. BTW, these three cards represent 40% of our total CC debt.
Amex's aggressive and quick action (we weren't even 90 days late) caught us off-guard. My attorney is going to call Zwicker tomorrow. We were hoping to be able to workout an arrangement with Amex directly.
Has anyone had any success negotiating debt settlement with either Amex or Zwicker?
Do you think it is to our advantage to try to settle all three cards together or treat them individually?
Thank you.
As a general rule, AMEX hires collection agencies under contract
As a general rule, AMEX hires collection agencies under contract...part of the contractual agreement is that AMEX cannot recall an account without cause...this basically means that you have to work with Zwicker on that account.
AMEX is quite agressive in collections and will sue very quickly.
My account went to Zwicker, they called and offered me to settle
My account went to Zwicker, they called and offered me to settle at 50% I wanted 30% they would not do it. I sent them Debt verification letter and soon after sent them the Arbitration and never heard from them again and my account went to NCO. I am trying to settle with them now. NCO offered 35% and could not do it and I offered them 30% and sent them the Debt Verification letter and have not heard from them yet it has been three weeks now.
