I'm trying to settle a debt with AMEX. They've pas
Date: Wed, 05/25/2011 - 17:07
The debt is no with First Source. I've sent them two separate settlement proposals over the past few months, requesting a response in wirting. But I have gotten no response from them. They've stopped calling, but they're still listed with AMEX as the current CA for the debt.
What should I expect next from First Source or AMEX? Should I continue to send proposals until I get a response? Or should I wait for them to try to contact me again?
Thanks for your help.
Bosco
Tricky situation. Wait for a few days. If they still don't conta
Tricky situation. Wait for a few days. If they still don't contact you, then you can send another settlement proposal to them.
You are going to get sued. Collection agencies will not negotia
You are going to get sued. Collection agencies will not negotiate thru the mail. It is not cost effective for them and they do not have the staff to be writing letters. In a lot of cases, the creditors themselves will not permit mail negotiation.
I would suggest that you speak to them and try to negotiate a se
I would suggest that you speak to them and try to negotiate a settlement. All of my credit card negotiations were done over the phone.... I was able to settle them in 3 to 4 payments. Try to get this settled before they send it to court. Once you tell them not to contact you, they won't. Eventually this will end up costing you more.
You can again send them a settlement proposal. If they do not re
You can again send them a settlement proposal. If they do not reply then contact with a reliable debt settlement company regarding this issue. This company negotiates with your creditors on your behalf.
If you'd like to ultimately reach a more favorable agreement, yo
If you'd like to ultimately reach a more favorable agreement, you should consult a debt settlement agency. For a nominal fee, the final result would be way more attractive.
Settlement is a mutual process of negotiation
Just sending a settlement letter is like a car dealer mailing you a sales letter. They are ignored. I settled over $250k and all of it was done by phone with letter follow-up. Since you are asking them for a favor in taking less than you owe, the respect of a conversation is a reasonable request.
Dont give them more than 25 cents on the dollar
I wouldn't give them more than 25 cents on the dollar. I used a company that I cant name and they settled it at around 25 cents on the dollar. They can be reached at 866-833-6398.