american express optima card settlement

Here is my situation. Rule changes in 2005 made Chapter 7 harder to achieve leaving many Americans with.

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Rather than suffer alone contact a legal professional to stop the harassment from American Express.

. American Express would like to offer you an opportunity to regain Card Membership. Basically you agree to pay off your previous balance either in-full or through an installment plan and the debt collector will extend an offer for an American Express Optima card paper application. Once the settlement company gets involved the debtor usually pays an agreed amount into a savings account on a regular basis instead of directly to creditors while the company.

The idea of having a credit card even after being a defaulter may seem fascinating but it binds you under a minimal credit limit. Posted March 24 2009. If they can get you to pay something through phone calls and mail they get to keep a percentage of what you pay.

You can probably expect to settle for 30 60 of the original balance. You may also choose to include information related to your current financial situation and an explanation of why your account became delinquent. Thats one down and the bigger one of 10k to go.

If you really want be an AMEX customer again then agree to repay the full amount and take whatever card they offer you at the 35 day mark. That said this is one i very muchly need to dump or improve. Debt settlement companies liaise with creditors on a debtors behalf to renegotiate repayment terms time scales and amounts in return for a fee.

After you spend 2000 in purchases on your new Card within the first 6 months of Card Membership. Once your application is submitted and processed almost guaranteed approval youll receive your AMEX Optima card in the mail. They are still trying to collect the debt.

The AmEx Oasis card allows you a credit limit of up to the 50 limit of your previous AmEx credit card limit. It actually does not show up on my credit report. American Express Logo CURRENT BALANCE.

But it doesnt qualify for MR and im eliminating redundant cards right now like unto mad. Of the 17 airline partners nearly all save the exception of Virgin America and Jet Blue have a 11 transfer ratio and on top of those there are dozens of other travel other partners in addition to hundreds of other shopping entertainment and dining. Ad Explore The Benefits Of Welcoming American Express Cards Today.

All you have to do is pay your balance in full on the account referenced above and you will receive an Optima Card application. If youre more than a few payments behind you will have to negotiate a. 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.

Settlement with Amex requires steel nerves and precision timing and is best handled via a customized full service approach. Available by invitation only to Amex Members whove settled debts with Amex in the past and who. Draft your settlement proposal letter.

So it is already a maximum of 50 of your last limit which may not be sufficient for many. My account was charged off from AMEX a long time ago. Enjoy a low Intro APR and reduced plan fees when you split up large purchases into monthly installments with Plan It by American Express.

Paid the settlement amount in full over the phone on the same call. One of the greatest features of American Express Membership Rewards is obviously the point transfer feature. I have also found out you cant get a corporate AMEX if you have a past debt with AMEX.

I have an optima with a nice little credit limit. Agreed to settle for 1350 or 65 of the balance. The payment is given in exchange for the company settling your debt.

Factors like length of repayment and time since the last account activity help drive the ultimate settlement amount. Account of 900 with Amex requires steel nerves and american express optima card settlement timing and fees owed the. Anyways today I finally got a chance to settle with American Express in regards to the collection account of 291.

Attempts to change the card type to something useful have grossly failedim afraid of cancelling it because. Message 3 of 5. Prepare For Today And Tomorrow With American Express Cards.

American Express settlement typically requires a lump sum payment that is less than your current outstanding credit card balance. I recently was offered the Optima Card if I pay the debt in full. You might be able to pay your settlement over a six to twelve month period but a single payment will give you the best opportunity for significant savings.

Include your name account number the total outstanding balance and the amount of your offer. American Express offers a financial hardship program to help manage your debt in the short term. Chapter 7 bankruptcy means a fresh start from bills you cant possibly get caught up.

You can choose any of the flexible payment options below call 866-205-4559 for details. The Amex Optima is American Express exclusive card for those with bad credit. You have an opportunity to regain Card Membership.

Acknowledge your responsibility for the debt while also pointing. All you have to do is pay your balance in full on the account referenced above and you will receive an Optima Card application. Expect from American Express Optima cards full or settle early to worry about collections at this point not is.

American Express maintains strict standards about extending credit after bankruptcy but it offers some alternative services that could help see you through the next few years. American Express offers world-class Charge and Credit Cards Gift Cards Rewards Travel Personal Savings Business Services Insurance and more. One thing that I learned about AMEX is they will hold that paid less than owed settlement offer over your head for years.

Called PRA to negotiate a settlement. Before proceeding your best interest to know exactly what you re at least 120 days late and asking them report. American Express accounts can settle for as low as 25 percent of todays balance with some of the collection agencies they use while others may not settle for under 50 or even 60 percent.

They were easy to deal with and I got a Paid As Agreed settlement. Cancelling an optima card.

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