Hello AMEX experts, I have a 2 year old AMEX Corporate charge-off on my credit reports. I would like to negotiate with AMEX for a settlement in return for the charge-off status being changed to paid. However, no one in AMEX customer service will talk to me because supposedly the account has been assigned to a third party collection agency. Interestingly enough, the AMEX customer service rep did say that they would accept a payment from me. How do I get past the low-level customer service reps to someone in authority who is willing to negotiate with me concerning a settlement amount and the account status change to paid? I think that I have a good chance of getting the status changed if I can get to someone in authority because the charged-off amount was charged to the account 2 months after it was closed (I was laid off from my company). The charged-off amount is $255. Thanks in advance for any advice you can provide, Matt
My best advice is not pay them a crying dime for any reason. for $255 you can easily force the collection agency to pay the bill and take it off your credit reports too. Just have to go at it the right way. Who is the collection agency?
The collection agency is Nationwide Credit, Inc. I have already sent them a cease & desist letter. I had hoped that they would remit the account back to AMEX enabling me to deal with the original creditor. Apparently, Nationwide Credit still has the account since AMEX Customer Service will not talk to me concerning it. I would like to get the account status reclassified as paid in AMEX's database because I would like an AMEX Blue Card and/or a LOC. Will AMEX give you a Blue Card/LOC if you have a previous charge-off on a corporate card? Matt
Nope. AMEX maintains a list for life. Even if you paid, your chances of getting a new line of credit are... slim and none... and we know what happened to slim...
I had an amex chargeoff a number of years ago. I paid it off about 8 years ago. I cant get an amex card but I did get approved for two 20k credit lines. Go figure.
They will take you off the black-list if you pay them - but it takes a year or so after paid in full (_not_ settled). Your best bet to get to someone in "authority" would be to talk to the person at your former employer who dealt with Amex - get that company's Amex account manager's name - and try to get their assistance. If you're willing to work it out, they should be happy to talk to you. Worst case scenario, write it up nice and clear, send it to Ken Chenault, C.E.O., American Express Company 200 Vesey Street, New York, New York 10285 (mail should forward to 90 Hudson Street, Jersey City, NJ which is the new temporary HQ). See if that gets a response? Good luck- mj
MJ has given you good advice, as usual. Given the small amount, I'd pay it, but NEVER to the CA. Write Amex a check w/ your old account #. Endorse it: "This payment is made in goodwill, and is not an acknowledgement of any debt." This would not be considered "restrictive endorsement", since it does not restrict any of the payee's rights. Then call Amex, ask to speak w/ an Account Manager from Centurion Bank, and ask that they review your listing and verify it now shows zero balance. If it does, they should remove you from the blacklist within 12 months, though an Acct Mgr may manually approve an Amex card application even prior to that. Saar
