Posted on
February 4, 2010
at
4:16 am
Hi guys, can you give me tips on how to settle debt with American Express? thanksA!
Posted on
February 4, 2010
at
5:01 am
Settle debt with American ExpressCreditors don't really settle current accounts but I heard that they might - if you already have the money (for a one time lump sum payment) - typically 75% of your balance. I'm not too sure. Do you already have that much?
Posted on
February 4, 2010
at
5:09 am
Settle debt with American Express or with a collection agency instead? If you're already thinking of settling, I take it that you have been having a hard time keeping current, which means that your credit has already taken a hit - if that's the case, why not just wait for ur account to charge off & settle with the collection agency that AMEX will pass your account on to..
Posted on
February 11, 2010
at
4:39 am
It is possible to settle debt with American Express.
Posted on
February 11, 2010
at
7:34 pm
I settled at 35% and i know a guy who settled at 28%. Both were about 90 days and with NCO collections, still owned by amex, good luck
Posted on
February 18, 2010
at
10:21 am
I am currently 120 days past due on a $15000 credit card debt with AMEX. They (the collection agency) have offered me a 55% settlement. I told them I could only afford to pay a 35% settlement. They asked me to fax a bunch of stuff like hardship letter, past due notices on other credit card accounts, so he can submit a 35% settlement to AMEX (which he claims they will most likely deny). He claims the longer I wait the worst chance I have of getting a settlement at all. Since I really can not afford a 55% settlement, I figure I have no other option but to wait it out for a settlement I can afford. I also let him know I have yet to settle two other credit card debts $15000 with B of A and $8000 with WFB. Any thoughts or advice on my situation would be appreciated. And will it help to fax a hardship letter and any other past due credit card statements they are requesting?
Posted on
March 5, 2010
at
7:23 am
Same as with any other OC, thing is Amex likes to send accounts to third party debt collectors once they hear the words debt settlement
Posted on
March 25, 2010
at
1:10 pm
I have settled my AMEX debt with a collection agency. They are going to fax me the settlement agreement in writing. As soon as I receive the agreement they want me to set up payment over the phone (giving them all bank acct. info.) Is this a secure way to pay? I don’t really want them to have my bank acct. info. And would rather pay by cashiers check/money order via certified mail. But they insist on having the money ASAP!
Posted on
March 26, 2010
at
4:02 am
It does sound dodgy. And
-He claims the longer I wait the worst chance I have of getting a settlement at all.- This sounds like a scare tactic and did you say 120 days past due? This means that your account is still with AMEX and not with a collection agency. Maybe you should call AMEX to verify.
