Amex Settlement

Date: Wed, 11/25/2009 - 09:34

Submitted by anonymous
on Wed, 11/25/2009 - 09:34

Posts: 202330 Credits: [Donate]

Total Replies: 2

I am 90 days past due on Amex cards...Amex rep informed me that my card will be cancelled today and sent to Collection agency..They also informed me that Amex doesn't settle for anything less than 80%...Has anyone dealt with Amex recently?
Your advice is appreciated!!

Amex can be difficult to deal with. How much do you owe to them?

Amex can be difficult to deal with. How much do you owe to them? Can you afford 80% settlement?

If they are about to charge off the account, why not then wait and deal with the collection agency instead? Your account probably have entered into your credit report already. Hence, if saving score isn't your primary objective right now then you may be better off by letting it go to the CA.

lrhall41

Submitted by SC on Wed, 11/25/2009 - 22:26

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Thanks for your advice SC!! Amex reps have been severely harassi

Thanks for your advice SC!! Amex reps have been severely harassing me and I am afraid that Collection agencies might get worse...I owe $8K and Amex haven't reported any negative remarks to credit bureas..one of their reps informed me that Amex will charge-off their debts after 120 days..I dont have any monthly income to commit to any payment plan but willing to sell my assets to settle the loan once for all..can you pls advice??

lrhall41

Submitted by on Thu, 11/26/2009 - 17:46

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