Amex Law Firm Playing Hardball
Date: Mon, 01/19/2009 - 10:29
$35k original balance.
$40k current balance with late fees/charges
5 months unpaid on card. Acct was sent to CA then to lawfirm who is now threatening suit.
Lawfirm's offer is $29,500
or
10 months of monthly payments of the full outstanding balance of 40k.
This is a company debt and the company has nowhere near 30k to pay this off. I'm thinking of taking this account out of the current debt settlement program and negotiating with law firm myself (also an attorney but no consumer law experience). From what I have been hearing on this forum as a newbie, seems like most have been able to negotiate 55% and under.
Who here would take either of the offers currently on the table? If not, what would be your response
$40k current balance with late fees/charges
5 months unpaid on card. Acct was sent to CA then to lawfirm who is now threatening suit.
Lawfirm's offer is $29,500
or
10 months of monthly payments of the full outstanding balance of 40k.
This is a company debt and the company has nowhere near 30k to pay this off. I'm thinking of taking this account out of the current debt settlement program and negotiating with law firm myself (also an attorney but no consumer law experience). From what I have been hearing on this forum as a newbie, seems like most have been able to negotiate 55% and under.
Who here would take either of the offers currently on the table? If not, what would be your response
AMEX is a tough company to deal with. I settled with them last y
AMEX is a tough company to deal with. I settled with them last year at 35%.
