Is AmEx willing to settle? My situation is that I had about a $14k debt with their Optima card about 4 yrs ago.. I haven't paid since and stopped hearing from them. I also now have a corporate credit card and use about $4k/mo and pay that off fully. What can I do to help rebuild my credit? I am working on everything else as well.. but this is specifically regaarding my amex Optima.. because I heard AmEx never settles? I do want to take care of this debt, get off their blacklist and repair the damage on my credit report as well. Any advice? Thanks in advance..
Can settle but still on blackl I settled w/Amex for 40% but the account was at a collection company at the time. If you settle the difference is on the blacklist. Amazing thing... my chargoff was from 1994 but the 1189 hadn't grown in interest so I am sending 1189 to Amex for the in full difference... and the interest stopped. Kindof an interesting situation if you think about it. If the account was lump-sum settled and then you went back a year or two and paid it off you get a free loan for a while (and your credit is already screwed anyway w/them.. so might as well get it screwed w/out interest). just a thought.
