Posted on October 29, 2009 at 4:53 am Good day,Can you tell me how American Express is with cred card settlement? I'm undecided- if I'm going to try and settle myself or enroll in a debt relief company. 'Need to know what I'm facing up against, I guess.Thank You.

Posted on October 29, 2009 at 4:57 am American Express Card SettlementI really don't know how it is with AmEx and card settlement, I'd ask around for you though.But one thing I can say about debt settlement d-i-y is that, you might not be able to get the best settlement offer if you go at it yourself. The negotiators in the settlement company would know more about the characteristics of a creditor than a consumer.May I ask what your reservation is with regards to enrolling in a debt settlement company?

Posted on October 29, 2009 at 5:00 am American Express Card SettlementI don't know much about AmEx myself-- in terms of how much they are settling debts for, but I heard that they are one of the more favorable creditors/collection agency to work with. Good luck to you!

Posted on October 29, 2009 at 5:07 am Hello again, thank you for the replies, I guess my concern is - I'm already deep in debt, I might not be able to afford the service fees if I enroll. How much would they be? And how can you be sure that my money won't go to waste?

Posted on October 29, 2009 at 5:23 am How much is your minimum payment? - if you don't mind me asking. Is it around $800/mo?Debt settlement companies will usually charge 15% of the total debt amount and spread -over 18 months or they will take a percentage of the settlement amount, between 20-25%.To qualify for the program your debt should total to over$10,000 (past due accounts) and that means that with the settlement company, your minimum payment would be $150/mo. If you owe $20,000, your monthly payment would be about $300.00/month--so on.

Posted on October 29, 2009 at 5:26 am American Express Card Settlement- debt settlement program/company - how can you be sure that my money won't go to waste?You have to do your homework with the settlement company. Meaning you have to choose very carefully. You must check for the following:-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or the International Association of Professional Debt Arbitrators

Posted on October 29, 2009 at 5:36 am That would guarantee a successful settlement?

Posted on October 29, 2009 at 5:39 am Actually no, the only guarantee that it can give you is the company that you'd find there would not scam you or run away with your money.You and the settlement company must be a good match for the whole thing to succeed. Speaking of which, feel free to fill out a form here at destroydebt.com and avail of the free initial debt consultation. Speaking with a debt consultant might help you find the right company for you.Hope that helps!

Posted on November 3, 2009 at 2:46 am I believe some people are able to go thru American Express card settlement successfully. Like get a 50% payoff or something. I read that somewhere here on this forum