Do I have to deal with debt collectors for American Express?
I stopped paying my American Express account when I got laid off. I am working again, and it has taken this long to catch up with most bills. I want to tackle this one, but I cannot pay the full amount.
Can I call American Express and set up payments? I got an offer to pay less than the full amount from a different debt collector than who has my account now. Can I agree and set up payments for that amount with the new collection firm?
How can I deal with a debt collector for American Express?
—Maria
Short answer
In most cases, yes. American Express handles little of its own collection work, so once your account is placed with a debt collector or a collection law firm, any payment arrangement or settlement goes through that collector rather than through Amex.
Key points on this page
- Amex does not bundle up unpaid credit card accounts and sell them to debt buyers as a general practice, so Amex remains the legal owner of the debt.
- Amex has no internal recovery and collection department to speak of. Once the account is behind enough to enter the collection pipeline, you are routed to third party collectors.
- Under about 90 days late, Amex may bring you current or put you on a temporary hardship plan with a lower interest rate for several months, sometimes up to a year. Avoid that plan if the setback is not temporary, because the payment goes back up at the end.
- With contingency collection agencies, Amex accounts can settle as low as 25 percent of the current balance, while other agencies will not go below 50 or 60 percent. Some files are flagged for no settlement, usually where the account is new or the balance is mostly recent usage, cash advances, balance transfers or big ticket items.
- Attorney collectors, such as Zwicker and Associates, can file a collection lawsuit shortly after their first letter. Settlements at that stage tend to be 50 percent or higher. Balances under about four thousand dollars are less likely to go to a collection attorney.
- Amex will not delete its credit reporting and does not do pay for delete, but it does update the entry to a zero balance once the settlement is complete.
American Express handles little of the collection activity for the credit cards people fall behind paying. Your options for dealing with Amex accounts that are already placed with a debt collector, or collection law firm, are going to be limited to working things out with the collectors in most cases.
You can pay or settle with debt collectors on American Express credit cards at the different stages of collections. Below is general information about resolving an AMEX account. I can get more specific with each individual persons situation when you provide details using any of the three below boxes (ask a question, request a settlement estimate, schedule a call with me).
Be sure to read through all of the options I outline in this article, including how American Express will update your credit reports.
You are Less than Ninety Days Late with American Express
American Express has some programs available for repayment when you are struggling with your finances. You can call a customer service rep at AMEX, and if early enough (within a few months of missing payments), they can help you bring your account current, or enroll you in a temporary repayment plan. These plans are generally going to offer you a lower monthly credit card payment for several months, and often up to a year.
The lower AMEX bill is because they are dropping your interest rate down during the months you are on the hardship plan.
Try to avoid taking advantage of any short term payment plan if your financial setbacks are not just temporary. You have no assurance the AMEX will extend the lower payment plan once your time on the temporary plan is up. That means your monthly payments will go back up, and may still be out of reach.
American Express also regularly works with nonprofit credit counselors who can get your monthly payments reduced, and get your interest rate lowered for the life of the balance, or while paying through the counseling agency, which can last up to five years.
You can be current with your credit card payments and still work with a counselor to pay your American Express bill each month.
If you are not yet 3 or more months delinquent in paying your AMEX credit card, and would like to see if you can get a lower monthly payment for the life of the balance, I would encourage you to consult with a credit counselor and get an exact payment quote at 800-939-8357, choose option 1.
If you have more than one or two credit cards you are struggling with, a counselor can help you consolidate most or all of those accounts into one lower payment.
Unpaid American Express Credit Cards are Not Sold to Debt Buyers
One of the first things to point out to people dealing with American Express accounts in collection is that they do not sell debt.
Many major credit card issuers sell off some of their credit card bills (that remain unpaid long enough) to debt buyers. AMEX does not bundle up unpaid credit card accounts to sell off as a general practice. That is not to say AMEX will always retain ownership of their delinquent debts. Bank policies do change from time to time, and operational realities could lead to AMEX changes too. But for now, AMEX is ultimately the legal owner of your unpaid credit card account.
This is an important distinction to point out. There are situations where someone dealing with a debt buyer collecting will have additional strategies to consider.
Amex is also one of few credit card lenders of its size that has no internal recovery and collection department to speak of. That is not to say they are lacking in customer service for their credit card account holders who do call you frequently in the first couple of months you are late. But once your account is behind enough to be dropped into their collection pipeline, you are typically not going to be connected to internal AMEX collection resources. You are, more often than not, going to be routed to third party collectors that AMEX sent your account to.
If you have had financial setbacks that caused you to stop paying American Express, but your accounts are already out for collection, you are generally going to find that any payment arrangements you make, settlement offers you receive, or that we can help you negotiate, will go through the debt collector that is currently collecting for AMEX.
Settling Your American Express Account with a Debt Collector
The type of settlement you can realistically aim for with AMEX credit cards can depend on several things. Your account usage leading up to missing payments is sometimes part of the equation, and so is how collectable you look to the debt collector handling the account for AMEX.
Who the debt collector is can also impact your settlement opportunities. Not all American Express debt collectors are the same. Let me break this down a bit.
The most common debt collector is a working on a contingency. If they can get you to pay something through phone calls and mail, they get to keep a percentage of what you pay. American Express accounts can settle for as low as 25 percent of today’s balance with some of the collection agencies they use, while others may not settle for under 50 or even 60 percent.
There are files that are flagged for no settlement. Some of the reasons this may happen are:
- Your account with American Express is too new.
- Recent AMEX card cash advances.
- Amount owed consists largely of balance transfer.
- The balance owed at time of default was made up of mostly recent months credit usage, or big ticket items.
Being Sued for Your AMEX Debt
There are large debt collection law firms that pick up large blocks of AMEX accounts to collect. They will call and write to you in seemingly the same way as a third party debt collector I just described. But do not let the similarity fool you. Some of these attorney networks, like Zwicker and Associates, can and do file collection lawsuits with the courts shortly after sending you their first collection letter.
Smaller local collection attorneys may contact you about your unpaid American Express card. And any collection letter you receive from an attorney with letterhead showing an address in your state, or one neighboring you, is a clear indication that your risks of being sued to get you to pay have escalated.
Smaller AMEX balances, say under four thousand dollars, are less likely to go to collection attorneys.
Settlements with attorney debt collectors for American Express accounts, whether in or out of court, tend to be at 50 percent or higher. If you appear highly collectable, and are already being sued, decent settlement percentages are harder to negotiate. If you are reading this and have recently been sued for an AMEX account, let me know where you are at in the process using one of the three options below.
We have good success helping people settle with AMEX, even when sued, for under fifty percent, and also with getting the settlement set up over many months. The extra time to pay the settlement can often be the difference in your success!
What if you cannot pay right now?
You mentioned you are not able to pay what is owed, and would hopefully be able to get a payment plan to only pay back what a prior debt collector offered as a settlement. Unfortunately, those lower balance settlement offers usually come with an expiration date. You can try to negotiate the same deal with the new debt collector, but they are not bound by that prior offer, and settlement amounts you can realistically target can change dramatically the more time you need to make monthly payments.
Remember that a debt collector is all about how you need to pay them right now. Anything you say about how tough your finances are at the moment will circle back to what you can pay today and in the near future. Every communication from collectors is for the exclusive purpose of getting money from you. That is how debt collectors are, for the most part.
You need to be concerned with your whole financial picture, and not just this one bill. No matter what the sense of urgency you feel when you are dealing with collectors, always know your cash flow, and never agree to something you are the least bit concerned you will be able to follow through with.
Unless you are dealing with an attorney debt collector licensed in your state, or have already been sued for collection, you probably do not have a debt emergency. And while I do recommend taking advantage of some of the better offers to settle your AMEX accounts with debt collectors early on, you can only do what you can. And even if you are in late stage collections with AMEX (in the courts or about to be), you still have options to navigate the situation, and even delay things.
How AMEX Will Show on Your Credit Reports
If you are only late a couple months on your AMEX payments, they will be showing one or two 30 day late pays on your credit reports. It can still make sense to do a hardship plan in this situation. But if you are more than 2 months late I am typically a fan of settling with AMEX for less, as it could actually benefit your credit more than by getting back on track.
I know… it is weird that your credit could improve years faster from settling for less, than by paying all the money back over a longer period of time. We did not make this system, but we do have to operate in it.
Late payments do not go away. And when you settle a debt for less, AMEX is not going to delete their reporting. They will update it though, and to show there is now a zero balance, once you complete the settlement. This will often mean you are taking a negative credit item and getting it to reflect a zero balance sometimes in a matter of weeks or months, instead of making monthly payments on the full balance of a negative credit reporting item for years.
American Express will not do pay for delete. Most banks will not.
Oh… and I should point out that not paying your AMEX credit cards may result in losing miles and other points in rewards programs, and those not paying their full balances back may not be able to get approved for American Express accounts in the future.
About Michael BoveeMichael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry. He is available to speak with you about your financial struggle and helps people resolve their debt problems daily.
HI Michael,
I have a 32K balance with AMEX that is past due from medical issues. I called the collection agency (Zwicker for the first time yesterday) and they said the minimum terms they would accept would be a 24 month payment plan and I would have to agree to a judgement as they were about to take me to court. I had not seen anything about a court date…. Voila, later in the afternoon, I drove up to see a police car in my driveway…I did not stop.
We can BARELY scrape up the amount (1350 per month) to agree to the payment terms. The first demanded payment of 2700, but would agree to half of that.
Live in Georgia and afraid of what they might do in court.
Thank you for this wonderful website and anything you can do to offer guidance.
Your options in this situation are limited. Call me and I will go over all of the different ways you can resolve this with Zwicker. You can sometimes buy yourself more time to raise money to settle, or get a reduction with terms. Doing so is very situational, so I will have many questions for you. You can reach me at 800-939-8357, option 2 rings me. You can also reach me at the same email address you get comment notifications from (if you subscribed to them).
Hi Michael –
I know this is an older post, but I was hoping you might still respond. I lost my job in 2014 and racked up a large balance with Amex, but couldn’t make the payments since I had no income for a good number of months. I received legal paperwork and believe that a judgement was issued in their favor, but since I had closed my bank accounts linked to the card payments and my card was in my married name (I had restored my maiden name by this time) they haven’t been able to get any money from me. Since I received the legal paperwork, I’ve heard nothing from them. I want to settle the account (hopefully for less than 100% of the $10,500 I owe them) but don’t know exactly how to go about it. Also, I don’t have a lump sum for them – would that make a settlement less likely if I had to make monthly payments? I could probably pay it off within 12 months if it was settled for half. Thanks for your time!
If it were me I would wait until I have roughly 50% available in order to fund a onetime lump sum settlement. If a collector manages to track you down, or you see a collection inquiry on your credit reports, it may be a good time to reach out to settle for the best deal that still has a monthly payment element to it. Until then, I would save up money aggressively.
My post just disappeared for some reason. I am wondering your thoughts on paying 100% lump sum to settle with AmEx when it’s in collections (Zwicker). Is there any benefit to my credit report in paying 100% vs. 75% for instance? If I settle for 75% do I need to ask them to report it in a specific way or is it the same “paid” designation whether it’s 75% or 100%?
I just responded to your prior comment. Anyone posting for the first time gets stuck in moderation. Now that you have had one post approved, the rest go live immediately.
It is often better to settle for as low as you can and save money. A resolved collection account is what you want and need. Your credit bounces back whether you pay them twice what you owe, or half of the balance. But there can be a difference if you are only a couple of months late.
Thanks Michael. I last paid in June 2015. My spouse was laid off, and we just couldn’t keep up. Zwicker filed suit last week. I have money coming in at the end of this month and can pay either the whole thing – or bargain it down. Sounds like I should try to get it settled for as little as they would accept, correct?
Yes, that is what I would do. I just put a video up about what is largely the same situation… settling charged off debt is as good as paying in full, and better than making payments. Give that a look.
If you need help dealing with Zwicker let me know.
Thanks for your help! Zwicker is requesting a signed financial statement in order to evaluate my settlement offer. What are your thoughts on providing that information?
I am all for sharing information if it substantiates that you are too broke to afford to pay them. I am full on against sharing any details that show them you are a bigger collection target.
Call me for a consult if you like. I can go over the details you would share with Zwicker and offer you better feedback about sending the information in or not.
Michael – I just want to be sure I understand this piece. My debt was delinquent by 6 months when it went to Zwicker. Zwicker has agreed to take less than the full amount due – but says they can’t do anything with the credit report at all – that I have to deal with Am Ex on that. If I understood your video, it sounds like it really makes no difference trying to come to an agreement relating to reporting, as long as it is settled? In other words, it will be reported as Paid or Settled – and either way that is the same (after this long a delinquency?)
Correct. American Express is required to update your credit reports with that new information, and they are pretty good about it.
Is there a “better” designation – “paid” or “settled” – and do I have any realistic control over that?
You have no control or influence over how AMEX will update their entry on your credit reports (other than the fact you are resolving the debt to show there is zero balance owed). As Zwicker mentioned, and the same thing applies to any collection agency or collection law firm working on AMEX accounts, they cannot control or influence AMEX credit reporting either.
After roughly 90 days of non payment, unless you were to bring your AMEX account current by paying all of what was owed up to that point (including fees and increased interest), getting the account settled and showing paid or settled is roughly the same thing. Once your account is charged off you cannot bring it current. Because AMEX can and does charge off accounts quicker than most other credit card banks, once your account is sent to an agency, you are often better off settling.
A limited exception to this (not for you this far along, but for other readers) can be enrolling in a debt management plan with a credit counseling agency. You can call my hot line 800-939-8357, and press 1 to connect live with a certified counselor and find out if you qualify.
Thanks Michael, You have been a tremendous help – and are a terrific resource for people in a very tough spot. I sincerely appreciate what you do!
Is there any reason (credit benefit) to pay 100% on an AmEx collection? Mine is in collection through Zwicker. Approximately $20,000. I an likely pay 100% within 30 days – but if the result is the same to my credit report, I’d obviously rather pay less. Thanks for your thoughts.
It can depend on how long it has been since you fell behind with payments. When did you last send a payment to AMEX?
Hi Michael:
I owe $20k on my AMEX. I stopped paying on it in Oct 2015. I was served with a court summons 2 weeks ago from Michael & Associates. I have called twice to see what my options are and if I can make payments. They have only offered a few options, all of which are one I can’t afford. (e.g., 24 months at 0%). As of today, a family member will loan me 10k. My husband wants me to call and tell the debt attorney that we will pay 50% as a settlement or we’ll just file bankruptcy. From what I’ve read, this is not a good idea. Do you think I can get the debt attorney to settle at all? If think we actually considered a bankruptcy we would not qualify for Chapter 7. I live in California. Thanks.
You would likely benefit more by working with a professional on this one Julie. Call me for a quick consult about this tomorrow at 800-939-8357, option 2 rings to me.
I have a $15,000 balance with Amex on a business account, but it is under my name. The account was with Company A, whose owner sold the company to Company B in March 2015. At the time of the sale, the accountant for Company A told us not to pay the last invoice, as it was to be assumed by Company B under the terms of the sale.
Once the sale of the Company A was finalized, Company B terminated my employment. I cancelled the card so that no more charges would go through. Company B never paid the invoice.
It’s now ten months later, and I haven’t heard anything from Amex since March. I just noticed that my credit score dropped 120 points last week because Amex reported the account as an uncollectable chargeoff.
In speaking with the old owner of Company A, he contacted his attorney, who informed him that the accountant was wrong, and that the balance was actually the responsibility of Company A. Company A is willing to pay the account in full.
How can I get Amex to remove the item from my credit? They say that there is nothing I can do, and that it will be reported as a paid collection account, which will not get me my 120 points back.
Help!
If it were me I would get the payoff completed and then work on getting AMEX to remove the collection form your credit reports through good will letters to the executive team. Calling in to talk to an AMEX customer service rep is not likely to get you anywhere. The good will effort may not lead to anything productive either, but you have a shot.
Let me know what happens along the way and I can offer more feedback.
I’m in Texas and AMEX platinum card with one additional cardholder who racked up the debt. I always paid my card in full monthly so I look collectible well without looking at my lone 2 LLC business credit cards maxed out at 15000 chase and over maxed at boa at 12500 (10000limit). Debt at $46,500 now (1/11/16) and increasing $550/mo interest charge plus $37/mo late fee. Charging abilities suspended. I no longer use card anyway and finally suspended additional card holder last month. Have missed 2 months min payments now as of 1/11/16.
Debt not accumulated by me but I am on hook for. Additional card holder has no cash and no savings. I am still working full time. Realistically it is all on me and I want to get this off of me for as little as possible. In terms of cash flow I have other debts lines of credit that I am meeting but total about $200,000. I have read a bit on net and seems like AMEX is worst opponent to go up against and they likely use Zwicker to sue. I have not been sued yet. I have tried a couple of calls to AMEX but they say they do not settle. I know of a hardship program they have for 1 year maybe $1,000/mo at 9% it rate but it hurts my credit and still won’t settle the debt it will only cut $12,000 so down to $33,500 well higher with int and would not be settled. Can I settle now that I am over 60 days late? What do you recommend at this point?
Yes I can come up with 50-60% but only if I pull 401k money but 10% penalty to do so and then there’s the 1099c so say 25% of the 40-50% saved means an additional 10-12% so real cost is now 50-60% + 10% + 10-12% = 72-80% ouch maybe I can’t do it.
If you do not have the cash flow to meet the minimum payment with AMEX (and you haven’t for 2 months), unless your situation changes, or AMEX follows through on the temporary hardship payments, the decision is being made for you.
You are a target for litigation, but that does not mean that will happen first. The debt collector who gets the account will nearly always have an opportunity to settle with you, and sometimes for less than 50% (this can include collection law firms too).
I would encourage you to call in for a consult at 800-939-8357, option 2 rings to me. It might be worthwhile to press option 1 and connect with a non profit counselor about whether or not your AMEX account, and perhaps others, can be consolidated into lower payments, and for the life of the balance rather than the short repayment plan AMEX is offering you now (AMEX will offer the nonprofits better plans).
Hi Michael,
I have unpaid debt from two accounts $15,780. I tried negotiating them down but they only would settle for 9,550. Which is an amount I don’t have. I only have 50% of that. When I called back I was informed they now filed a law suit from one of the accounts for 12,870 and can no longer locate the second account. I’ve since then received a copy of the filing receipt in the mail the AMEX law firm send me but nothing else. I haven’t been served, I have no court date..nothing. I looked up the court filing date with the city clerk and it’s real. However, there is no proof of being served. (because I haven’t been served yet) They are willing the settle for 9,100 now but only for the one account. I’m hesitant to make any commitments without locating and agreeing for a settlement for both accounts. Nor am I actually able to settle for that amount at this time. Will they go lower the closer we get to the court date?
When you have multiple accounts AMEX will frequently send them out to different collection agencies, as opposed to sending all of your accounts to the same collector. I would not wait to find out where the other one lands before dealing with the more pressing account with the collection attorney.
Who is the law firm suing?
Can you manage the settlement if it were split into 12 months?
How long would it take you to raise 50% in a lump sum?
I am still in the third party collections stage, I lost my job and fell far behind on all my bills, I am back to work, but still playing catch up. I had asked Amex months ago to cancel my card, I haven’t used it in over a year. Due to the fact they didn’t cancel it then and it keeps having interest added on my bill is now over $20,000. I had received a letter at the beginning of Dec. saying my card had finally been cancelled. Of course the interest is still being added on, I have been with them for 20 years, and this is the first time I have ever been late. Now I’m being told that I have to pay a certain amount by March 15th or my count will go to a lawyers office for further collections. The amount they want me to pay will be a stretch, and they will only do it if they have it directly withdrawn from my account. I am not comfortable with that at all. I have dealt with lawyer offices for collections on some other bills and they have never asked to directly withdraw from my account. Please advise on this. I have told them I was more than willing to make payments but they want double of what I can afford, I don’t know what to do.
Give me a call to discuss your options with AMEX from here Vee. I want to dig a bit deeper into other accounts you may be paying, and see how you may fit into a long term settlement plan with any debt collector AMEX sends your account to. You can reach me at 800-939-8357, option 2. You can also email me at the same address you get these comment notifications from.
Hi, Michael,
I just learned that my AMEX card bill was not kept paid by my spouse since September (I was out of the country for work and let her handle the bill paying), and it apparently went to collections on December 24 (GC Services). The amount at AMEX is $15,091. I haven’t yet gotten contacted.
What would be the best move at this point? I would be unable to make much of a lump sum payment, but could swing a decent sized payment plan; it’s less that I was unable to keep up with the original payments, but that they simply weren’t made in my absence.
Can you pay off your balance in a 12 month period?
Hi,
I recently payed my Amex collection debt through GC services. It was around 13000$. I payed it in 3 months after I found out that I have collection. Had work injury, couldn’t work.
My question is: how I can remove collection from credit report. Called Amex, called GC and nobody is helping.
Thank you
You cannot typically get a paid collection account like this with American Express removed from your credit reports. If GC Services is showing on your credit reports (which is not common given the details of your situation), you might get lucky with them, but they have zero influence over how AMEX reports.
Once you pay a collection account it should update to show the account is resolved. After that, your credit will bounce back… sometimes quickly, sometimes slower, depending on the rest of your credit reports.
Why does Amex give different information to credit reports? I don’t care as the statue of limitations of 6 years has run out. My Optima Card of 20 thousand is not on the Experian or TransUnion at all! I stopped paying on that in november 09. The Platinum Card is last reported okay 10/09 and to be off the Transunion report 7/16. Same card Experian: no data on everything back to september 09 and charge off August 09, totally blank before august 09. To be removed from report 2/16! Can’t wait to see what they told Equifax.
Hi! My husband committed suicide 6 months ago, I’m left with $23k to AmEX & cannot pay, I have a mortgage to keep up & two children. Centurian filed a lawsuit. I am going to submit a pro se letter for extension…to file bankruptcy – credit already shot. Any thoughts? Again, no hope of paying debts. Anything in particular that I should know or consider?
Thx
If you are going to file chapter 7 bankruptcy there is little else to explore. The bankruptcy will wipe out the AMEX debt and stop the collection lawsuit from progressing in the court.
If you learn you cannot qualify for chapter 7, or choose not to file for some reason, post an update and lets go from there.
I had 2 Amex accounts that have been delinquent and charged off almost 6 years ago. Amex centurion bank just garnished my wages. I want to settle with them but worry that it will trigger the other MUCH larger Amex account to come after me as well. I never received notice in the last 5 years of legal garnishment or intent to sue from them they just did it. Shouldn’t I be past the statute of limitations? Do the different Amex cards (Gold and Blue cards) operate separately from each other? Why is one suing and the other is not? TX and NV statues of limitations is 4 years but I read that AMEX is 6 years. This month should be 6 years since last payment was Nov 2009. I need answers I cannot find online. Help!
I have more questions than answers Lisa. You can call me to cover all of my questions (and yours) at 800-939-8357, option 2 rings to my desk. Calls are no charge.
Hi,
I had an Amex Business Platinum Charge card that due to various business issues, I owe about 38k. I have been unable to make payments and now my personal credit is in the tank since they clsd the account. Not sure what my options might be. Just rcvd a letter regarding account going to collections. What would be the best approach? Have you ever heard of a negative account being removed from ones personal credit for a business account that has account resolution?
Thanks for you help.
Once resolved I do not see the paid collection from AMEX being deleted by a mutual agreement. It is normal to resolve the account and have that fact updated to the credit report, and your credit to bounce back relatively quickly.
What personal financing goals do you have in the next 1 to 2 years?
The credit reporting is one concern, while being sued personally is another. Give me a call if you would like to go over options that fit your finances and goals from here. I am at 800-939-8357, option 2.
Hi,
I currently have about $11K in CC debt with Amex, I was informed by my mother that there was an attempt to serve me papers this morning. I’m assuming for a court case Vs Amex, I currently reside in another state
Who do I contact to find out the agency suing me and how to make a settlement offer?
Thanks,
You can call AMEX directly and ask who they sent your account to. Once you know the answer to that post an update and lets go from there.
I have a balance on my green amex corp card for over two years now,($4000) I file bankruptcy last year and it was discharge, I included amex, however it does not appear on my credit report, what are the chances they will work with me in settling the account?
Thank you
Why do you want to settle a discharged American Express account?
Did you mean that the AMEX account is still showing up on your credit reports and that is your goal… to remove it?
Hi Mr. Bovee, I hope you had a wonderful Happy Thanksgiving!
In 2014 I was unemployed nine months. During that time I was contacted by a debt collection agency in Florida (Gatestone 1-866-251-2396) for an American Express account turned them to collect a debt from me of $14,000. They wanted all the money immediately upfront-I told them I could not pay them all up front. Then they asked if I could pay $2800. up front and told me to borrow the amount if I had to (phone conversation). After paying that amount through withdrawal of my checking account , I then agreed to pay them $800 a month once I started work. After the second month it was difficult and they allowed me to renegotiate to $400.00 per month until November of this year 2015. (I calculated I have paid them over $7800.00 since that time.) Here I am expecting now in November to have received a letter stating that I paid to the agreed amount, but now they are calling me everyday, to request another term, when over the phone last year, they stated if I paid to November 2015, my debt would be cleared. What do I do?? Thank you very much for your time and consideration Michael.
Do you have any of the agreement you made in writing?
Do you have the approximate date, time, name and number or extension of the Gatestone debt collector you spoke with when setting up the payment agreement on your AMEX account? Could you piece that together from phone records?
Have you maintained the same phone number since those conversations with the debt collector?
Good Morning,
My account with AMEX was recently charged off in July. Since an AMEX debt representative has contacted me in September, I have been working with him to pay off my debt. I stated at 2400 and my current balance is now 1700. He is forcing me to pay $400 a month and I just cannot seem to swing that. If I had the money to pay it, I would have paid it earlier and not be in the situation now. He is now saying that the 1700 needs to be paid off by the beginning of January. I won’t be able to do this with my tuition, rent, groceries and everything else! What can I do to extend the time period and pay less every month? Is that an option in this situation?
A debt collector for American Express cannot force you to pay anything. AMEX would need to have a court judgment before any force of law would be available to the debt collector.
You can often set up payments that go 6 and 12 months in these situations. What is the name of the AMEX collection agency? Things can vary from one collector to the next.
The debt collector is from American Express services. He works for Amex. I assume he’s saying that if it is not payed off by January, it will be transferred to an outside debt collector?
He doesn’t give me many options when I call and speak to him. I can’t pay as much as he’s asking me to. Should I call a different representative and see what they can do? I’m just not sure what my options are at this point
Prior to being unemployed last year for a few months, I always payed my bill. I continues to pay while unemployed, but didn’t reach the minimum and it kept adding up. So although I continued to pay, I didn’t pay enough and they closed my account without warning.
Hi,
My American Express credit card account is closed but there is a balance. I’ve been paying off the minimum each month for over 9 months online to American Express. But Jaffe & Asher keep calling me at work and saying I haven’t made a payment yet even though due date is not up. I’ve told them not to call me at work 4 times now and said they are forbidden but they don’t listen at all. Still calling and harassing me.
How do I stop them calling me at work? They seem amused every time I say they are forbidden to call me at work,
What is the name of a large city near you? I can send you contact details to one or more consumer law attorneys that offer a no cost initial consult so you can look at your options.
You can also call me to talk over some options at 800-939-8357, option 2 rings to me.