Please help...is Allied Interstate/Am Ex lying about charge off?
Date: Fri, 03/13/2009 - 07:08
Hello. I have an account with American Express that is 120 days past due. American Express sent the account to Allied Interstate collection agency. Allied is telling me that the account has already been charged off. When I asked them who owns the account, they said AmEx does, and that they are working for AmEx. I then said, "Okay then the account has NOT been charged off yet if AmEx still owns it, right?" They said NO, it has definitely been closed and charged off.
I thought that all credit card accounts have to be 180 days past due before they can be "charged off". Am I wrong to think that? Can a creditor charge off your account whenever they feel like it? I am confused!
Any help is greatly appreciated. Allied is asking for 85% of the $3000 balance. I was hoping to at least get them down to 50%. They seem a little shady to me too...
Thanks.
I thought that all credit card accounts have to be 180 days past due before they can be "charged off". Am I wrong to think that? Can a creditor charge off your account whenever they feel like it? I am confused!
Any help is greatly appreciated. Allied is asking for 85% of the $3000 balance. I was hoping to at least get them down to 50%. They seem a little shady to me too...
Thanks.
An account can be CO'd and still owned by the original creditor.
An account can be CO'd and still owned by the original creditor. AmEx very rarely sells off their CO's.
