How to settle on an American express card with Zwicker and Associates

I too had a AmEx account that was sent to Zwicker. It was only 90 days past due, so I was totally unprepared for that being so early in the game. Zwicker assured me that if I did not settle within 10 days, they would send my account to the litigation department. Were they lying? Who knows. After a significant amount of research I decided it was not worth it to try to call their bluff. I settled at 60%...the lowest I could get with a 3 month payback. They did offer 55% if I could pay in one lump sum. Unfortunately at the time I couldn't do that, so I took the 60% - 3 month option.

Could I have gotten them to come down more? Possibly, but I was not willing to take the chance at the time. That was the first account that I ever settled. Now that I am a little more experienced with debt settlement I do somewhat regret not holding out for a lower settlement, however I am happy to say that I have not been sued. I have however gotten settlements for 20% and 35% from other creditors, so I figure in the long run I am still doing pretty well.

From what I have heard/read, AmEx and Discover are very difficult to settle with, AND they play hard ball. Zwicker is a huge law firm with attorneys in almost every state. Both AmEx and Discover use Zwicker. Personally if you can afford to take the 55% I would do it and put them behind you.

Good luck!

I don't have quite enough to settle - which is a problem. I also have citi cards to settle yet - I thought they would be easier than they are being -- any idea what their final % is? I'm at about 40% in negotiating with them -- but I will either need to pay them or Zwicker -- and I hate to choose Zwicker when they are so much more.

haveaheadache, what have decided to do regarding Zwicker, have you been in contact with them again. I too have an American Express account about 90 days past due and have been contacted by Zwicker. Not sure how to handle, as I do not have enough funds yet to settle

They said they were filing suit - I haven't seen it yet (it's illegal for them to tell me that and it not be true -but who is going to file suit? ) -- and I've been checking the court records, mail ect. -- I don't know - I would rather settle with everyone else that accepts 35% and then deal with them seeing they have become liars and really my other creditors have all been polite and worked with me. - which is probably what I'll do. It's the "mean people suck" attitude. They'll be paid last. The best thing is to get everything in writing -- and make a bulk payment that makes a clean cut from them -- it sounds to me like when they accept payments -- they aren't credited correctly -- so, one payment, signed paperwork, follow up with the credit bureaus.

When I had a chapter 7 American express actually showed up to fight! They lost of course. After this I was told by some lawyer friends that American express are know to very often fight dismissals in Chapter 7 Bankruptcy. They are often the only creditor to come to the proceedings!! Therefore I am not at all surprised to hear that they are being difficult in your situation

4Sety

Hmmmm,,,,,,,,I had 2 cards from Amex as well but they haven't told me they would sue. In fact, I am getting letters of settlements from them once a while. In fact, they want me to pay off the balance, 60%, so that I can reapply for their membership.

Can anyone please provide with contact info for Zwicker. I have a discover card that is being handled by them and the number I have seems to be incorrect since no one has called be back and I left them a message 2 weeks ago... please help...
thanks

Unfortunately, I have been unsuccessful in getting them to come down from the 55%. Their contact # is 800-370-2251. I too am holding out and not negotiating any further until they come down to around 35%, If not I will pay them last! If anyone has had success with them please post it!

Zwicker called me on March 10, 2009, demanded payment and told me they were going to sue. this was just at 90 days past due with Amex. I send them a DV letter on March 12, 2009 which they received on March 16, 2009. I received another call from them on March 16, 2009 in the AM most likely before they got my DV letter. Anyway, I have heard nothing since. I have not even gotten to the point of offering them a settlement. I can come up with about 35%-40%, not sure if I should call and offer or just wait. Amex is still charging interest but stopped charging the late fee and the overlimit fee on their statment this month.

They said they were actually filing the lawsuit last time I talked to them -- amex is about 90-120 days - it's illegal for them to lie about that - but what can you do. They haven't sued me yet - no papers, nothing at the courthouse. and yeah why would you settle with them - when so many of the other creditors are accepting 35%? and they are trying to work with you, are nice about it, and don't lie to you? Zwicker might get their 55% or 60% --- but they'll get it last, hopefully I still be able to come up with the money by then.

Are you still in contact with Zwicker? do they call often? I know with the DV letter they have to stop collecting activities but they seem to be very underhanded.

They don't seem to call -- but the only numbers they have for me is at work -- and they have been told it's not ok to call there. Legally, collectors can't call your work if you tell them, preferrably in writing, that calling there is a detriment to your employment (or something like that). So, all my creditors have that number - and all of them received letters. So they don't call much. I wouldn't trust them to handle payments -- when I settle with them - it will have to me a one time payment - all in writing - I actually call them and shoot them an offer every once in a while.

What is their response when you call with an offer?

aw no - that's not possible -- ah the lowest we can get is 60 . . . . maybe 55 % -- that would be . . .ah this much blah blah -we could set you up on payments at 65%. . . . . . and then I have Chase - that's like - the lowest we can get approved is 35% - done . . . . makes you not even want to work with zwicker . . . a part of the pie vs none of the pie . . . .

My credit file must look worst than I realized. I defaulted on 8 credit cards in Novemeber 2008. Just received settlement offer paperwork from Bank of America for 20% and Chase agreed today to accept 20% also. That makes 7 cards down and only Zwicker and Amex left. Already got the letter from Bank of America and Chase is sending out their letter in 3-5 days. I have to borrow from family to come up with most of the cash but I can't turn down the offers to wait to gather more funds. I recorded the telephone calls with Chase and Bank of America so I don't think I will have a problem. Amex and Zwicker must be a real bunch of bums to hold out for 60%, what is going to happen is that I can't get any more family money and Amex will have to wait to get their pound of flesh.

Gosh I thought I was doing well at 35% with Chase -- I've got citi and AMX/zwicker to go -- I don't know - after that show on dateline about what collectors can and cannot say - maybe I'll sue Zwicker for threatening me instead of paying them - or maybe I 'll just complain to AMX and they'll accept less - hm, I may try that. Maybe we should both try that and AMX will see a trend . . .lol

20% on Chase ugh! that's great! I paid them 35% and thought I was doing great.

I received a call yesterday from GC Services regarding my Amex account. It looks like Zwicker is out and now GC Services is in. Anyone have any information on them. Thanks

How did you get contacted by Zwicker? Was it on AMEX letterhead or from Zwicker directly? I received a letter today that said:

We are offering you assistance in helping you resolve your balance with American Express.

This is a unique opportunity in which you will be able to re-pay your total outstanding American Express Card balance by establishing a payment arrangement with Zwicker & Associates, P.C. Also, during the payment plan period, as long as you comply with the terms of the plan:

1) Your interest rate will be lowered to 0.00% (for up to 6 months), and
2) You will not be charged additioanl late fees or over-limit fees that would otherwise accrue on you account during the payment plan period.

We hope that you will seriously consider the benefits of this offer. Please call Zwicker & Associates, P.C. toll free at 800-370-2251 to discuss your participation. They are available Monday-Friday 9-5 EST to assist you with your account.

Sincerely,
Madhushree Goenka
Director, Risk Management
American Express Company

This communication is an attempt to collect a debt and any information provided to the agency will be used for this purpose.

The above letter was on AMEX letterhead with a return address of American Express Travel Related Services, OA Special Research, PO Box 981540, El Paso, TX.

So was it sent from AMEX or Zwicker? Isn't this type of letter considered deceptive trade practices?

Yes, Zwicker sent me a letter much like that, it was two sided and I didn't even realize it was from a collection agency right away. I sent them a DV letter after my first phone call with them and then only got one other call from them. I guess before they got the DV letter. The acount was sent to GC Services a couple of days ago

We have our Amex account with Zwicker too. I faxed my validation letter to them and I haven't heard back. They haven't even called us. I can still access my account online so I plan on paying Amex directly online.

How many days are you past due. At 90 days, I was sent to Zwicker and then a couple of days ago, at around 110 past due, GC Services came into the picture. I have called Amex to complain about them as they did not treat me well on our first phone call. Anyway, I even told Amex that by using them, it is preventing us from making payback arrangements.

Im also having issues with AMEX and Zwicker.
The APR still at 28% and charging every month is the only reason Im not dealing with them. All other companies have settled and stoped the APR to 0%

I havent heard one good success story dealing with these guys yet.

I just received another collection letter from a different company. Apparently Amex sold my account to Resurgent Capital. I've already talked to them and the guy seems decent to deal with. I went ahead and sent a validation letter. I'm so glad that Zwicker is no longer handling my file.

this is my last card - everyone else has settled - the highest I paid 35 - 40% to everyone. BUTTTT . . . Zwicker is solidly at 50% -- how long do you think it takes them to actually bring you to court. and I'm with you all -- if AMX was asking me for 50% - I would probably pay it - Zwicker is terrible.

I have issues too and spoke with an attorney. They are the biggest scum bags that need to be taken down.

File bankruptcy the moment you are served, let them waste their time and money. File only if there is no way you can repay the debt. Unsecured creditors cannot do squat in bankruptcy and they know it.

NEVER, EVER again will I apply for any AMEX account or any other credit card.

Had outstanding line with AMEX that was sent to Zwicker. After 4 months of messages I was served...with a court date in 4 months later (maybe to give me time to THINK). I want to repay my debts, and am grateful for the settlement. We came to 1/2 up front, and payments over 12 months. Total settlement was 58%

Not trying to sound all rightous or anything...but we shouldn't complain about not getting the settlement we want, when we were able to spend 100% of the money. If someone offered you a $100k car for only $55k, you would consider it a deal. Yet when the cc company does the same thing, we now want the car for $20k. Just something to think about. I have been personally struggling with this idea...especially since I had a couple of offers at 20% from other institutions. The first person I got at Zwicker was a jerk, the second person is great. Maybe it is the ole good cop bad cop routine...who knows. Good luck

I ended up at 58% with Zwicker/Amex - and you're right, shouldn't complain. I would however hate to go over how much of that balance was actual purchases versus interest and late fees. -- but I would like to keep my lunch down also. 58% the higher percent I paid out - lowest was chase at 35%---- total time to get everything done was about 7 months

I have been contacted by Zwicker, I owe Amex $34-000. The amount they want me to pay each month is still too high for me at the moment, what can you do to negotiate a better deal. They won't really listen and Amex won't accept and payments directly or even talk about it anymore.

contact amex right away and tell them that zwicker is being unfair. ask amex to pull your acct from zwicker and give to another firm. i myself am going to call cccs and im also going to speak with a debt relief lawyer.

I talked to AMEX before about this debt i have wiht them, they did nothing at all, instead of helping me thye increased my interest rate and bump my paymets to almost three times the original, i received a sumons today about the credit card debt i have with them from ZWICKER & ASSOCIATES,PC. i was told they are a bunch of money hungry lawyers that do not care about your economical situation even after having AMEX for 10 years and never miss a payment AMEX use this kind of people to ask me for payment, they are threating me wiht taking my property and inconme, HOW IS THIS POSSIBLE? i ask AMEX for help and they just turn their back on me after so many years of loyal payment.
I am about to vomit because of this AMEX, i am going to clear this and i will cut this stupid card FOREVER. BUNCH OF THIEFS!!

Zwicker & Associates is evil. I'm going to be organizing protests against them at their offices and organizing anyone who has been targeted by them. I'll post more later.

I only have a few words regarding American Express.They keep there paper in house for a long time and will bury you in evidence in a court case.If their collector is being unreasonable contact them directly with your concerns.

I settle with them all the time for clients. You need to know what type of language to use to get the best deal. If you want some help you can reach me at [EMAIL="jared@thefishmanco.com"]jared@thefishmanco.com[/EMAIL]

Here's my take on this situation. Amex utilizes many different CA's for collections, but Zwicker is a law firm and will sue, I know because I'm being sued by them. Although we have made reasonable offers, in line and actually at a higher percentage than with what others have settled for through other CA's, I believe Zwicker intentionally fails to present the offers to their client. In a recent exchange with a Zwicker representative, they claimed to have presented our offer and the fact of it's denial within a 30 second time frame...Shoot it takes 30 seconds just to dial the number and for someone on the other end to form a thought...In my case we have elected arbitration under the terms of the amex contract after being served, which is supposed to stop the lawsuit dead in its tracks. The amex contract designates 2 arbitration forums NAF and AAA, neither of which are in the business of handling credit card arbitrations. If anything it should serve to buy more time to perhaps reach an amicable settlement. It is just silly to think Amex would settle a balance of 26K through a CA for 4K, yet refuse a 50% offer on a balance of 13K...The difference is Zwicker is not playing according to the rules. They are supposed to present all offers to their client so that they can make the decision. The rules of professional conduct govern what lawyers are and are not supposed to do, and in this regard I believe they break all the rules....

i settled bofa, chase, one amex all for 10%! but another amex is with zwicker and we are now at 30%. don't settle until you see the court paper from them! i agree, i don't think they show the cc company the true offers becasue they want their slice of the pie!

I am dealing with the same thing. I defaulted on 7 credit cards last January. My payments were just to high and could not afford to keep paying them. I had two bank of america accounts that settled at 20%, Chase settled for 33%, and Capital One for 65%. Zwicker and Associates have may Discover card but they don't want to settle. I was served with papers on the Capital One account by the Law Offices of Frederick J. Hanna and Associates. They settled but had me sign a consent agreement to drop the suit. I work for a collection agency as well, so I definitely did not want my wages garnished. In GA they can get 26% of your pay prior to taxes. I also have another Chase card and they have it as well. They want to settle for 50% but for some reason seem to think I can settle it at the same time. They must really be crazy if I could $1800.00 a month I wouldn't be in this position.

Try getting a call from George Martin at ZWICKER... What an uneducated idiot who stumbled on his own words - he is easy to break.

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Zwicker is a fraud, the man drives a big benz and the office people are chicken $%^.
They threaten you on the phone but when you go to their office, other people show up.. Sooooo.. When they threaten you about a law suit, go to their office and try and speak to the account reps. Face to face, they will back down...

Zwicker will file suit..they did on us even after I made a payment plan with them..I had written down ALL notes and who I spoke to and when so they retracted the suit.I make payments at no interest with an auto draft. They do not ever answer emails even though I know they read them. I also filed a complaint on them because a collector called at 11:00 pm!! They said he didnt and didnt break any rules...I had the recording. Best deal is to call personally and dont back down on what you can do.

When settling with anyone,remember this. For whatever you settle on and pay, you will receive a 1099 on the balance of what you didn't pay. What you didn't pay for is considered earned income.

Hiya!! I also made arrangement with zwicker...amex care plan and they also served me with summons.... They also told me that amex would only settle for 80% so i don't see this 55% others are talking about.

Ok... So here's the deal as clean and clear as it could get. Amex will send you to collections, if you don't settle with them, they send you to an attorney firm specializing in debt collection (Zwicker or Guerrini Law firm), they WILL file a lawsuit, when you get served make sure you have an attorney file the response to the lawsuit so it get's in line for trial, you will then have over a year and a half to work on a settlement with them or a payment plan. They will take almost anything you offer them (within reason). If you don't file the response (which they count on) you will get a default judgement and they will garnish your wages or levy your assets in your bank within 2 or 3 months. Key here is filing your response to their lawsuit. It's a generic response asking for your day in court to defend yourself. Not that you even can. But you have the right to a hearing and the courts are so jammed that you will buy yourself time to settle this. And with Amex, you should expect 55-60% at best. I've not seen them do less than that and they make that even difficult to do. If you can't get on a payment plan with them or solve your financial problems in a year to year and a half, then you might as well just file BK and get it all over with.




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They don't have to settle at all. You either need to file bankruptsy or accept thier terms. After all you did make the debt.

Zwicker will sue you. They secured a garnishment notice from court and froze EVERY bank account that we have in the amount due plus court fees. We have been able to work out a suitable plan with them. They have been more than willing to work with us. But , please do, believe them!

had 3 amex cards, 2 went to the same ca and the other one went to zwicker, which eventually filed suit, but in the end they settled for 55 percent. The other 2 went for 50 percent. Amex will not go below 50 percent.

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What if I don't go to court and they get a judgement?? I live in Tx and they cant garnish my wages, and what if i close my bank account??