american express
Date: Sat, 07/10/2010 - 16:33
Are you behind? In collections? We need a bit more information
Are you behind? In collections? We need a bit more information.
AMEX are notorius for suing.
my experience with amex isthat i stopeed paying 18 months ago -
my experience with amex isthat i stopeed paying 18 months ago - i proposed a reduced payment schedule which they rejected - calls came and I spoke with them about twice a month - after about five months they shipped the account out to a c/a. I've been through three or four. Only spoke to one c/a . When you validate they just ship you on to someone else. got several offers to settle from amex - started at 60% now down to 40% One c/a did a very weak validation response last month but amex took it back from them - I recently proposed a five year payout of about 20% in total directly to amex. - never heard from them - then two weeks ago got a call from them - said they never got my offer but when i said what it was on the phone they said the longest settlement period that they will do is 24months - apparently they will do around 20% but they would want it in one payment - I said i couldnt do anything more right now - they said think about it because if it goes to a collection agency again they may litigate - I asked where I should send my offer to since they didnt receive it - they gave me an omaha address
a week later got a call from a senior person - they had received my offer but couldnt accept it - he said that the offer i proposed was about the same that they would get if i filed bankruptcy - we both agreed that I didnt want to go this route or I would have already . however he seemed like a reasonable guy and said if if did start making the monthly payment i offered in the letter they would keep it in house and only call every three months or so to get a status update - so i started making the very small monthly payment on line. Hopefully they will stick to their word and down the road I will be able to gather funds to settle with them. to date, they have not charged me one late fee or any interest so the balance remains at the $50,000 balance it was 18 months ago.
so are you making payments on a settlement or a hardship program
so are you making payments on a settlement or a hardship program? i just got off the phone with american express and the conversation went from them not being able to offer a settlement to offering 90% then that they would not go lower than 80% then they ended up offering 75%. i told them i would have to discuss it with my husband and get back to them .
Quote:Originally Posted by Anonymousmy experience with amex isth
Quote:
Originally Posted by Anonymous my experience with amex isthat i stopeed paying 18 months ago - i proposed a reduced payment schedule which they rejected - calls came and I spoke with them about twice a month - after about five months they shipped the account out to a c/a. I've been through three or four. Only spoke to one c/a . When you validate they just ship you on to someone else. got several offers to settle from amex - started at 60% now down to 40% One c/a did a very weak validation response last month but amex took it back from them - I recently proposed a five year payout of about 20% in total directly to amex. - never heard from them - then two weeks ago got a call from them - said they never got my offer but when i said what it was on the phone they said the longest settlement period that they will do is 24months - apparently they will do around 20% but they would want it in one payment - I said i couldnt do anything more right now - they said think about it because if it goes to a collection agency again they may litigate - I asked where I should send my offer to since they didnt receive it - they gave me an omaha address a week later got a call from a senior person - they had received my offer but couldnt accept it - he said that the offer i proposed was about the same that they would get if i filed bankruptcy - we both agreed that I didnt want to go this route or I would have already . however he seemed like a reasonable guy and said if if did start making the monthly payment i offered in the letter they would keep it in house and only call every three months or so to get a status update - so i started making the very small monthly payment on line. Hopefully they will stick to their word and down the road I will be able to gather funds to settle with them. to date, they have not charged me one late fee or any interest so the balance remains at the $50,000 balance it was 18 months ago. |
For that money, they could easily sue for a judgment. These are a slam dunk for the creditors in court and can be enforced for 10 years or more forward. Be careful.
