As I said before Optima will not work in my case. They do not backdate and getting another AMEX is not what I am interested in.
Is there an AMEX number where I can reach the legal department and attorney instead of idiots in India or Philippines?
As an attorney, it is impossible to negotiate a settlement when they dont speak the same language and are ignorant to our fiduciary laws.
Well for us
Me: $12000 Amex
Wife $11200 Amex
Here is what you can do. Let it goes to Collections, I mean real collections, and not the AMEX Collection team. Once it goes CA, then wait till they contact you. Remenber the older the debt is, the better you can settle them on. My case is it went to this collection agency / Lawer office, and they sue me & my wife. Will took them 5 month before they actually able to deliver the "you been serve" paper to us. So we agree on an settlment of 60% of debt. You just need to drag this on until they let someone else to collect. Also it will take several try to get better deal, and couple of month.
I think your best bet would to be to hire an experienced lawyer that specializes in debt (NOT A DEBT CONSOLIDATION COMPANY). They will have delt with AMEX before and have a general idea of how good a deal they can get you.
i served amex with JAMS arbitration papers and I settled with the law firm for below 30%. You need leverage to get a good settlement and credit deletion.
Leverage is arb or some violation of FDCPA/FCRA, Card Act, TILA and so on.
I think OP can do this themselves. Just need to research a bit. Amex usually does not settle below 60 or 70%.
"Leverage is arb or some violation of FDCPA/FCRA, Card Act, TILA and so on."
Ok but will that remove the entries from the credit report? Getting the negative off my credit report is my #1 priority. Settling for a lower amount is not an issue.
if you have some leverage, you can make credit deletion part of your agreement. I can't provide any details due NDA.
Amex is one of the tougher OC's in terms of getting a low settlement or deletion.
WIthout any leverage, they might delete with close to full payment.
why not ? What is the reasoning ?
Amex is known to hate JAMS. They ran when I sent my arb papers for about 9k. OP owes about 10k. It will cost Amex mutiples of that to arb...and then you can appeal and do over again.
A bad court case will be a bad arb case. All it is is leverage.
This is what my attorney said when I asked him about JAMS
I can not do that without being paid a substantial fee. JAMS is very expensive and quite a lot to do for that. Who will pay for the arbitration? JAMS uses retired judges. The fee is a lot. Also, I do not demand arbitration unless you are willing to go through with it. Do not assume that serving them with papers will work.
Find another attorney. He does not understand arbitration and does not know what he is talking about.
The consumers fess is capped to 250 and the creditor pays for the arbitration. If your contract has arb in it, and you send a letter electing arb. if they subsequently sue you they are violating their contract and you can sue them.
Show your "attorney " my post and tell him to get educated on the process. His answer is typical for attorneys who do not understand arb. If you chose the arb path, there is not money in it for him.
Assuming serving them arb papers will work ?? If it's in the contract, it will work. What does he not get ??