Latest on AMEX and CITI July 2013

It can be possible. I came across a few articles where it was mentioned that AMEX will pay $5.2 million to the U.S Treasury Department. I don't know if they have made a decision due to this issue.

Contact with Citibank and ask them about the offer. As far as the Amex bank is concerned, you will have to pay the full amounts if they don’t offer settlements.Otherwise they can sue you because of nonpayment of debt.

Maybe wait until it get to collections...but AMEX has a habit of being tough.

I Just got off the phone with United Recovery syestems who is handling my American Express account. They told me AM is not accepting settlement since 3-4 weeks ago? Could this be true?

Also i have a question about Discover. I am trying to settle with them and I was previously on a hardship program with them. They are saying that no settlement offer will ever be available on my account due to the fact that i was on this program. Could this be true or are they just saying that?

Thanks for any advise.

Settling is completely up to the creditor....it affects their bottom line. Often AMEX will prefer to sue vs settling. When I was in collections, there were times that AMEX did tighten up settlements, Discover too.

My American express account has been moved to GC Services agency for collection. It is approx 150 day late. They wouldnt settle on 50%. What should my next step be?

Also my Discover Account is set to charge off early next month and they will not talk about settlement due to the fact i was on a payment program which lowered my apr%. Should i keep trying before charge off, or let it charge off and see what happens?

Thanks for any advise.

Your next step would be to find the cash to pay off the account before you get sued. AM EX has decided not to settle. Discover will often choose to sue over settling too....these are two of the most hard nosed creditors out there....they aint playing the game. If know that if you have 50% of the balance you could have been making your payments.

Yea but the problem is i can only borrow the money from a friend if the account is settled and closed. No money for payments.

citi tried to sue us -- we had to deal with a law firm and settle with them -- amex -- not sure on their most recent status --