Amex settlement????

Date: Sun, 03/15/2009 - 15:46

Submitted by anonymous
on Sun, 03/15/2009 - 15:46

Posts: 202330 Credits: [Donate]

Total Replies: 4

I have an AmEx account that is just over 120 days past due, and was sent to Allied Interstate collections. What is a reasonable expectation of settlement? Am I better off waiting until the account is past 180 days? I could probably come up with 50% of the balance but that may interfere with other credit card settlements that I am hoping to close this month.

Any advice is greatly appreciated!

I'm also 120 days past due on Amex. They sent my accounts to Na

I'm also 120 days past due on Amex. They sent my accounts to Nationwide, and then to GC Services. Both wanted me to settle for 75-80% which I can't afford to do. I'm waiting to see what will happen next. Hoping to settle with someone for 30%.

lrhall41

Submitted by on Sun, 03/15/2009 - 19:40

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this is very high

I have 6 amex account 4 in one CA and 2 in other they all 90-120 days past due I stop paying them at the same time I have 25% offer for those 4 and 20% for other 2 you need to negotiate, I got similar offer like your from HSBC they told me they will not take less then 80% so I said then I won't pay because I cannot afford and will have to file for BK, I'm waiting now for call from HSBC or CA if they sell it... again I hav emy amex on 20-25% and it did not take long to negotiate

lrhall41

Submitted by on Sun, 03/15/2009 - 23:39

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Thanks Joe - did they let you pay in 2 or 3 payments?

lrhall41

Submitted by on Mon, 03/16/2009 - 05:22

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Which CA did you end up settling with?

lrhall41

Submitted by on Mon, 03/16/2009 - 15:23

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