post-amex settlement question

Date: Wed, 01/06/2010 - 01:15

Submitted by anonymous
on Wed, 01/06/2010 - 01:15

Posts: 202330 Credits: [Donate]

Total Replies: 3

I called up Amex today b/c I am receiving paper statements from them on two Amex settled accounts. They told me that I will still have a balance with them FOREVER despite the settlements that were completed in Nov, including when I look at the accounts online but they will stop the statements. The rep said they do this b/c I "technically" still owe them money and that I will get denied if I reapply for an Amex card in the future unless I pay the balances. Also, the rep said my credit reports should reflect $0 balance though. Has this been everyone's experiences?

Princess, that really stinks! I'm still getting statements from

Princess, that really stinks! I'm still getting statements from Chase also, but they said the statements are coming just in case the settlement fell thru and they will stop in the next 2 weeks. I disagree with Amex though, technically - you settled on the amount you owed and therefore - don't owe them anymore!

lrhall41

Submitted by SugarSugar on Wed, 01/06/2010 - 11:38

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i dont think they should be able to do that, do you still have y

i dont think they should be able to do that, do you still have your papers stating that the debt was satisfied? i would be concerned at some point that remaining balance would be sold and they will then come after you, or you end up getting a summons to court for the remaining. i would fight that.

lrhall41

Submitted by love_my_things on Wed, 01/06/2010 - 11:42

( Posts: 1434 | Credits: )

same story, different rep

I called amex again. Got the same story from another rep. Internally, I will still carry a balance so I can't get another amex card in the future but they will not collect on that balance due to the settlements. Also, this rep told me that my credit report will say "charge off, bad debt, settled" even though technically amex sent the accts to nco financial at 60 and 90 days delinquent. The rep said they just do things that way.

Amex sucks! Come to think of it, they are double- dipping if they write off these balances as bad debt and then if I am inclined to pay in the future!

lrhall41

Submitted by on Wed, 01/06/2010 - 13:25

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