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Member
Posts: 28
Registered: ‎11-04-2012
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Amex and Western Union

Without going into too much detail, I have excellent credit but a severely financially stressed mother. She is 9 months behind on her mortgage, failed the loan remodification trial period, and her car is about to be repossessed. The charge off balance on her GMC is 3,100. It is worth KBB 24k. I want to pay off the balance and transfer the title to myself in order to prevent liquidation following her unpaid credit cards. The car is her only asset, and as soon as I pay it off creditors will likely garnish it if it remains in her name. How can I used my Amex with 0% interest to pay the 3,100? The debt collectors will only accept WU or Moneygram, whereas she has bounced checks before. But will send a lien release and title on recipient of payment. I have 2,000 in my checking, 12,000 in a Roth, and a paid off IS250. I cannot save her house, but I may be able to save the car. Im willing to trade mothers too.
Frequent Contributor
Posts: 300
Registered: ‎07-15-2012
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Re: Amex and Western Union

western union and moneygram accept credit card payments! im not sure on the daily limits as they very! i would cotact the WU or MG customer sevice for futher information!

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Established Contributor
Posts: 792
Registered: ‎08-30-2011
0

Re: Amex and Western Union

Just be ready for a FR if any of those companies show up on your Amex statement.
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Registered: ‎12-11-2010
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Re: Amex and Western Union




Western Union doesnt accept AMEX. You have to use Visa, Master or Discover. You can paypal using your AMEX and I have done it atleast 10-15 times this year.. It didnt trigger any FR for me till now.

 

Member
Posts: 28
Registered: ‎11-04-2012
0

Re: Amex and Western Union

What's a FR? Also, will Amex recognize this as a cash advance, thus nullifying the 0% APR?
Moderator
Posts: 14,051
Registered: ‎04-15-2011
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Re: Amex and Western Union

Financial Review.   Amex is notorious for this.

Starting Score: 504
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EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
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Re: Amex and Western Union

+1000000000000000000

Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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Re: Amex and Western Union


always206 wrote:
Without going into too much detail, I have excellent credit but a severely financially stressed mother. She is 9 months behind on her mortgage, failed the loan remodification trial period, and her car is about to be repossessed. The charge off balance on her GMC is 3,100. It is worth KBB 24k. I want to pay off the balance and transfer the title to myself in order to prevent liquidation following her unpaid credit cards. The car is her only asset, and as soon as I pay it off creditors will likely garnish it if it remains in her name. How can I used my Amex with 0% interest to pay the 3,100? The debt collectors will only accept WU or Moneygram, whereas she has bounced checks before. But will send a lien release and title on recipient of payment. I have 2,000 in my checking, 12,000 in a Roth, and a paid off IS250. I cannot save her house, but I may be able to save the car. Im willing to trade mothers too.

You do not want WU or Moneygram appear anywhere on your AMEX statement. You could take out some money from your Roth and use it as money order to pay off the debt?

 

 

In My Wallet:
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Established Contributor
Posts: 620
Registered: ‎09-10-2012
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Re: Amex and Western Union


trumpet-205 wrote:

always206 wrote:
Without going into too much detail, I have excellent credit but a severely financially stressed mother. She is 9 months behind on her mortgage, failed the loan remodification trial period, and her car is about to be repossessed. The charge off balance on her GMC is 3,100. It is worth KBB 24k. I want to pay off the balance and transfer the title to myself in order to prevent liquidation following her unpaid credit cards. The car is her only asset, and as soon as I pay it off creditors will likely garnish it if it remains in her name. How can I used my Amex with 0% interest to pay the 3,100? The debt collectors will only accept WU or Moneygram, whereas she has bounced checks before. But will send a lien release and title on recipient of payment. I have 2,000 in my checking, 12,000 in a Roth, and a paid off IS250. I cannot save her house, but I may be able to save the car. Im willing to trade mothers too.

You do not want WU or Moneygram appear anywhere on your AMEX statement. You could take out some money from your Roth and use it as money order to pay off the debt?

 

 


+1000000000000

 

And I am almost certain it will be coded as cash advance.

Amex Platinum | Discover IT | Amex BCE | Citi DCB | Chase Sapphire Reserve | Chase Sapphire Preferred | CapOne | NFCU goRewards and CLOC | Chase Freedom | Walmart | Alliant CU Visa | Couple of Biz Cards | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO (TU/EX/EQ): 739/766/745 - Total CL 215+K

Member
Posts: 28
Registered: ‎11-04-2012
0

Re: Amex and Western Union

Although that is a possible idea, taking out money from my Roth may hold additional implications. That isn't an option. I can come up with 3,100 in cash, but it will take me a month, and by that time in afraid they will have repossessed it by then. If a vehicle is locked in a garage will they force entry? Or are they limited to open commons?

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