Home
Log in / Sign Up
    Private Messages   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Household Management -> Finances
Did you do a settlement with Amex on CC debt?



Post new topic   Reply to topic View latest: 24h 48h 72h

amother
OP  


 

Post Yesterday at 11:12 pm
I'm looking for info regarding potentially doing a settlement on credit card debt - AMEX. I am unable to afford the minimum payments and they dont want to give me a lower APR even though I skipped payments. Other credit card companies seem to be easier to work with in terms of renegotiating the payment plan.

Does anyone have experience dealing with American Express on either getting them to agree to a better payment plan or a settlement?

Also if someone knows exactly how a settlement works and doesnt mind explaining it would be highly appreciated. I know it will ruin my credit but for the forseeable future I am ok with it.

Thanks!!
Back to top

amother
Burgundy  


 

Post Yesterday at 11:32 pm
amother OP wrote:
I'm looking for info regarding potentially doing a settlement on credit card debt - AMEX. I am unable to afford the minimum payments and they dont want to give me a lower APR even though I skipped payments. Other credit card companies seem to be easier to work with in terms of renegotiating the payment plan.

Does anyone have experience dealing with American Express on either getting them to agree to a better payment plan or a settlement?

Also if someone knows exactly how a settlement works and doesnt mind explaining it would be highly appreciated. I know it will ruin my credit but for the forseeable future I am ok with it.

Thanks!!

If youre OK ruining your credit. Close the card. And don't pay. After a few years they will give you a really low settlement.

While you're doing that... May as well rack up a few more cards.
Ask me how I know..

But don't ever expect to be able to carry an Amex card again.

Hashem should send you parnassah beshefa fast!
Back to top

amother
  OP


 

Post Yesterday at 11:39 pm
amother Burgundy wrote:
If youre OK ruining your credit. Close the card. And don't pay. After a few years they will give you a really low settlement.

While you're doing that... May as well rack up a few more cards.
Ask me how I know..

But don't ever expect to be able to carry an Amex card again.

Hashem should send you parnassah beshefa fast!


Thanks. I think they closed the card already. I only skipped a few payments and they said they're opening a lawsuit. Does that make sense?

I dont need an Amex card again!
Back to top

amother
  Burgundy


 

Post Yesterday at 11:54 pm
amother OP wrote:
Thanks. I think they closed the card already. I only skipped a few payments and they said they're opening a lawsuit. Does that make sense?

I dont need an Amex card again!

I can only tell you my experience.
Sadly my husband had a gambling addiction and maxed out a few credit cards. He closed them. He didn't pay a cent. He ignored every phone call and every piece if mail. And now I think it's 3 years later and they sent a settlement for dirt cheap.
Good luck!
Back to top
Page 1 of 1 Recent Topics




Post new topic   Reply to topic    Forum -> Household Management -> Finances

Related Topics Replies Last Post
[ Poll ] Go into debt for IVF with sif-yay or nay
by amother
43 Thu, Sep 12 2024, 9:05 pm View last post
Cc points vs cash back
by amother
4 Fri, Sep 06 2024, 9:19 am View last post
Credit Card Debt
by amother
8 Tue, Aug 06 2024, 10:41 pm View last post
BB cream or CC cream?
by Tindle
10 Sat, Aug 03 2024, 11:45 pm View last post
[ Poll ] How much debt do you have? (NOT including your home)
by amother
51 Fri, Aug 02 2024, 2:13 pm View last post