American Express...

you are not late enough. wait...and they will assign it to a coll agency. that is when you settle.

dantheman- how late does it have to be?

I just got off the phone with amex, i am 108 days late and they will only go 75%. They are telling me that if i dont make a payment by sept 17 that it will be turned over to an outside agency? Should I be nervous? I have heard others say that is when I will be able to settle... question is; do they offer to settle right off the bat or is it waiting game with them too? will they make an offer or should I ? I am in NY do they use specific agencies? Any advice????

As soon as you are assigned to outside collections, settlement improves. Hope for NCO and not Zwicker. Just offer 35% and stick with it. They will settle.

why not Zwicker?

Search the forum but I have read they are less willing to settle at a good %. There is a lot here on them. But let it go to collections and that is your best shot.

thanks for the input...i will keep updating as i go along

8:30am and they call me for yet another attempt on a payment. i told them i couldnt make a payment that i would really like to just give them a lump sum payment and settle it, but they told me the lowest they can offer me is 75%. when i said i couldnt afford that right now they told me "well we'll just have to send it to an outside agency" with a bit of an atitude. i am probably close to 120 days, my last payment was may 13. i know this whole thing is a rollercoaster kind of game but i dont like this one...

I defaulted with them beginning of the year. They have since sent to 4 different agencies to try and collect. They usually will not sell debt and will continue to try and collect. My balance is about $3,600.

Last letter I sent to them was an election of arbitration. This should keep me out of the court room.

i dont understand how these cardsgo to several different agencies? do they just get tired of trying to collect and then turn around and sell it to someone else or what?

American Express does not sell their debt. They assign to different agencies to collect on their behalf. If the first agency fails they turn over to another. Again, my Amex has gone to 4 different agencies but is still held by Amex..

It's a big game. Amex hopes one of the agencies will convince you to pay.

I would call 866-833-6398 they can get you a deal at around 20-25 percent of what ever you owe.