AMEX Settlement Offer & Charge Off Days

some do it as early as 90, most will wait til at least 120 or more.. its a roulette game no one really knows what criteria will push the button, but do talk to them at least once a month and say the same thing over and over.

as above posted no one really knows its kinda when they feel like it. I dont think my first settlement came until month six to be honest with ya. 6 months to a year was when most of my accounts were through i had a few that hung in there even longer. so it may be a long road. just hang in there if your doing it yourself and keep that communication open!

Amex has been my most difficult account to settle. I have settled 8 out of 13 accounts successfully, and I have had 2 different Amex accounts. One I was able to settle for 50% but only after I was served and had to answer the summons, hire an attorney, etc. Then Amex unexplicably pulled the account back from the attorney and agreed to settle for 50%.

My other Amex account is heading toward a lawsuit. The attorney's office will not accept anything reasonable and is just sending the case to court. By reasonable, I mean an offer to settle for 50% just as I did on the other account. Lump sum payment within 30 days.

I have settled with several of the big name banks and AmEx in my opinion is different than the rest. They just don't seem interested in settling until they have spent a lot of money sending the account to 2 or 3 collection agencies or attorneys and threatening you with court.

Both Amex accounts were > $15K, if that helps.

Good luck, but if I had to do it over again I would not mess with Amex. Too difficult. I would have paid this one over time and settled the rest.

Thanks everyone for the replies and info.

scarecrowwinces,
I appreciate the details and wish you the best of luck on all your card settlements.

Thanks