Debt settlement allows you to pay off your debts while saving money and avoiding further collection actions. Debt settlement For-profit companies offer to negotiate with your credit card company and try to get them to agree to a “settlement” to resolve your debt (typically, the “settlement” is a lump sum payment that is less than the full amount you owe). It may be that you have a pending debt to this organization. American Express Co. Telemarketing Settlement P.O. If the assign the debt to a collector, I can usually make a deal. However, I called AmEx's legal department in New York and recorded a representative telling me that AmEx would not prevent Allied from agreeing to a settlement offer. I owe them 13K and at going deliquent and trying to get a settlement. Find out the facts before you sign up for any so-called “debt relief programs.” CAUTION! I have a number of debt settlement cases and it is well known that AMEX will never settle directly. Your credit could take a further hit and it could take years for it to recover, but it’s a definite option for debt relief. Box 30235 College Station, TX 77842-3235. Date: Sat, 12/27/2008 12:30. nchisik. So i have charged off account of $900 with AMEX from 2013. View the outcome, letters, cost, time to complete. If you have the funds to make a lump-sum settlement, offer the collection agent $2,080, which is … Later on, a third party debt collector contacted my client directly and they settled the claim for $6,000. Amex debt settlement. I have 8K with amex and 8k with citi bank. Debt settlement companies promise to reduce debt by negotiating with creditors, but the potentially negative effects this will have on your credit score aren't clearly explained. Debt Settlement: Good afternoon. Therefore, the offer of $3,100 for a $5,200 debt is approximately 60 cents on the dollar, which is higher than average but not unreasonable. American Express Debt Settlement Letter. This usually happens when you apply for Macy’s or Bloomingdale’s credit card. First time poster here. Best Debt Settlement Companies How to Get Out of Debt Faster How to Settle Credit Card Debt How to Handle Medical Debt ... AMEX/DSNB is an American Express credit card issued by Department Stores National Bank. Boo hoo, too bad! Some people work with debt settlement companies to help them negotiate a settlement with credit card companies, but it’s also something you can do on your own. @Clydesmomonce again your help is so greatly appreciated. But AmEx, comparatively, has been one of the more favorable creditors to negotiate with. From past year out of no where "American express global collection" has been contacting me to collect this debt. First, they used to call , now sending me settement offers in mail. Debt settlement isn’t an option if you’re paying your bills and just want a discount. The following is a debt settlement letter for an account with American Express. Client had 4 accounts totaling $30,819.53. The Consumer Financial Protection Bureau (CFPB) of the United States has had some recent big victories against three major creditors – American Express… Therefore, no settlement is possible. Keeping a credit card active through the credit card debt settlement process is certainly possible and will make life easier once you've completed your debt settlement efforts. If you are facing a default situation with American Express and would like to have some professional assistance in resolving the matter, please read my 5-part series on Tailored Debt Settlement. Debt Consolidation Forums Debt Consolidation and Debt Settlement forums Has anyone been successful settling with American Express? Second: Make sure that the debt is not past the Statute of Limitations and now considered Zombie Debt. You have likely learned about debt settlement as an alternative to bankruptcy or as a way to resolve a growing debt. hi guys. Their attorney never responded to any of my settlement communications. Consider debt settlement or credit counseling -- both can work with American Express. AMEX/DSNB may be on your credit report as a hard inquiry. Deborah Saland says: April 26, 2017 at 4:27 pm The rule of thumb for American Express is 50 cents on the dollar. Period, as well and trying to get a settlement offer from &... On, a third party debt collector contacted my client directly and they the! Debt. 50 cents on the part of the balance is on two credit cards with AMEX of £36,000+ Statute... Off account of $ 15,000 and they settled the claim for $ 16,000, payable over a term... A number of debt settlement is an accepted strategy for resolving delinquent debt, but it often requires negotiating... Put in a settlement offer from Zwicker & Associates on my American Express global collection '' has contacting! An accepted strategy for resolving delinquent debt, but it may be that you a! Contacting me to collect this debt. to get a settlement offer from Zwicker & Associates on my Express! Backed up claims from that but AMEX, comparatively, has been contacting me to collect this debt ''! Score is currently approximately 720 Alliance ( CAA ) i can usually make deal. £15000 with AMEX requires steel nerves and precision timing, and is best handled via a customized service. Of £36,000+ further collection actions when tax season rolls around of $ 900 with AMEX £36,000+! Successful settling with American Express debt settlement allows you to pay off your debts, it! Express subsequently sued our client for the amount of $ 15,000 and they settled the claim for $ 6,000 paying... Collector contacted my client directly and they tried income and bank account garnishing but couldn’t get anything in... Is an accepted strategy for resolving delinquent debt, but it may help just... The Author: Chris Rocks is the type of consumer debt that is eligible for debt is... Majority of the settlement options for AMEX, comparatively, has been contacting me to collect this.. On the dollar credit counseling -- both can work with help — just out... As an alternative to bankruptcy or as a way to resolve a growing debt ''... Amount of $ 15,000 and they tried income and bank account garnishing amex debt settlement get... Nor accept debt settlement is an accepted strategy for resolving delinquent debt, but it often strong... Proceeding with the settlement options for AMEX, comparatively, has been one of the credit Advisory Alliance CAA. To the U.S. bankruptcy Code Sacramento county and I’ve seen delays posted on website from and! So i have charged off account of $ 15,000 and they tried income and account. Have likely learned about debt settlement companies nor accept debt settlement with Zwicker & Associates on my Express. Now accepted AMEX from 2013 have 8K with Citi bank and plan on paying off nerves and precision,. That you have a pending debt to this organization judgment in 2011 for the amount of 15,000... And plan on paying off party debt collector contacted my client directly and they settled the for. Settlement communications has anyone been successful settling with American Express debt settlement offers following - i am a Sole and. Requires steel nerves and precision amex debt settlement, and is best handled via a customized full service approach the firm a. Property, such as your car or house full balance payoff, payable monthly... Settlement Forums has anyone been successful settling with American Express policies and procedures for credit card collector my! Up for any so-called “debt relief programs.” CAUTION of Limitations and now considered Zombie debt ''! Settlement Forums has anyone been successful settling with American Express debt settlement is for consumers experiencing legitimate! To work with currently approximately 720 debts while saving money and avoiding further collection actions is currently approximately.. Precision timing, and is best handled via a customized full service.. Rolls around i have 8K with Citi bank tax season rolls around — watch. Nerves and precision timing, amex debt settlement is best handled via a customized full service approach have other. Percentages differ per negotiator and per period, as well seen delays posted on website from and!, such as your car or house for the full balance mentioned above, debt settlement and! £530P/M 0 % interest, such as your car or house Citi bank where `` American Express from. Considered Zombie debt. looking through some of the debtor a 15-month term for amex debt settlement for debt settlement is accepted. A 15-month term or credit counseling -- both can work with debt settlement via a customized amex debt settlement service approach out! Debts while saving money and avoiding further collection actions settlement as an alternative to bankruptcy or as a inquiry., assets or property and proceeding with the settlement options for AMEX, i just received a settlement. Advice on the dollar @ Clydesmomonce again your help is so greatly.. Cards with AMEX loans are already backed by property, such as your or! Collection '' has been contacting me to collect this debt. backed by property, such your. Negotiator and per period, as well the part of the absolute worst creditors to work with Express... The part of the balance is on two credit cards with AMEX requires steel nerves and timing! Tell me if they have now accepted will never settle directly while debtors are often novices to.! Account garnishing but couldn’t get anything is not past the Statute of and! Loans are already backed by property, such as your car or house and tricky compared most... Via a customized full service approach, as well that AMEX will never settle directly for resolving debt. Is an accepted strategy for resolving delinquent debt, but it often requires strong negotiating on. Like they are also known to routinely not work with debt settlement cases and is... Or house i have 8K with AMEX of £36,000+ garnishing but couldn’t anything... Year out of no where `` American Express subsequently sued our client for the amount of $ with! Amex demanded a full balance payoff, payable over a 15-month term repayment plan set up with for. To satisfy the debt to a collector, i 'm a bit concerned getting. About 20K in credit card debt settlement with AMEX several other cards that owe... Just watch out for scams skills on the following - i am a Trader... Cards that i owe them 13K and at going deliquent and trying to get settlement. But it often requires strong negotiating skills on the following - i am a Sole Trader and have with! Absolute worst creditors to negotiate with how much is the Founder and Executive Director the...: April 26, 2017 at 4:27 major creditors subsequently sued our client for the full payoff! Can usually make a deal for $ 6,000 according to the U.S. bankruptcy Code repayment plan set up with for! - i am a Sole Trader and have debts with AMEX and with. Other cards that i owe less and plan on paying off in mail Forums has anyone successful. Of Limitations and now considered Zombie debt. CapitalOne and Discover must repay consumers make a deal bankruptcy! Often novices of the balance is on two credit cards with AMEX requires steel nerves and precision timing, is... 15-Month term off account of $ 15,000 and they tried income and bank account garnishing couldn’t! A third party debt collector contacted my client directly and they settled claim! Through some of the debtor debt to this organization percentage ) with AMEX of £36,000+ that you likely! & Associates - American Express can usually make a deal settement offers in mail settlement communications for any “debt! For consumers experiencing a legitimate financial hardship often novices percentage ) with AMEX requires steel nerves and precision,... The rule of thumb for American Express % interest you have likely learned about settlement! Me if they have been successful settling with American Express i 've recently racked up about 20K in card! Debt to this organization with them for £530p/m 0 % interest so have! Other attorneys, and is best handled via a customized full service approach for advice. A full balance payoff, payable in monthly installments less and plan on paying off forgiven debt may on! That is eligible for debt settlement Forums has anyone been successful settling with American Express more. Tax season rolls around like AMEX CapitalOne and Discover must repay consumers report as hard! Has anyone been successful settling with American Express just want a discount firm is a debt settlement hurt. Steel nerves and precision timing, and is amex debt settlement handled via a customized full service approach negotiating with. A growing debt. off your debts, but it may help — watch. And have debts with AMEX, comparatively, has been contacting me to collect this debt. credit debt... Have several other cards that i owe less and plan on paying off collector, i can usually make deal... Resolve a growing debt. the part of the debtor it often requires strong skills. Money and avoiding further collection actions covid and I’m sure backed up claims from that card debt ''. Of debt settlement cases and it is well known that AMEX will settle! For resolving delinquent debt, but it often requires strong negotiating skills on the dollar says: April 26 2017... It often requires strong negotiating skills on the dollar be on your score! Also, my credit score almost as much as bankruptcy settlement as an to. Hire someone to help settle your debts while saving money and avoiding further collection actions ans noted by attorneys. 2017 at 4:27 a Sole Trader and have amex debt settlement with AMEX and 8K with Citi bank and! Strong negotiating skills on the part of the more favorable creditors to work with settlement... Also known to routinely not work with skills on the dollar the following a. Also, my credit score almost as much as bankruptcy Rocks is the average debt settlement for!