AMEX Charge-offs questions

[Mikey123]

Hi.

I am looking for some advice on this forum which has been very helpful. I have 2 charge offs with AMEX:

1 - Green Card - DOFD 11/04 settled less than owed ($2,600 discount)  11/11 removal date (from TU)

2- Blue Card - DOFD 6/05 settled less than owed ($300 discount) 6/12 removal date  (from TU)

I called AMEX and they wont do anything in terms of reviewing the charge-offs or the accounts. I offered to pay the balance in full and they will just list the account as paid in full after charge-off/collection.

I have a couple questions:

1) If I pay it in full, does that start the 7 year clock over and does it make it look more recent?

2) I am applying for a new job in the financial field and just dont know if its better to leave these accounts as is since they are 4 years old but settled or pay them in full and make it look more recent.

3) Does anyone know of any success or anyway to get AMEX to delete these items?

Any advice on these would be much appreciated! Thanks!

[Anonymous]

AMEX is very unforgiving for charge offs and BK.

1.  No, it will not re-age the DOFD.  But it will affect the date last reported, which can affect FICO scoring.

2.  If your new job is concerned about credit, unpaid is worse than paid upon review.  The fact that you settled will help.  That you settled for less than owed may be less helpful.  It really depends on the policies of the employer.  Best to ask, after all if you know they will check, there is no hiding it.

3.  AMEX will not delete them.  You are going to have to wait them out the 7 years. 

[Mikey123]

txjohn - Thanks for the reply.

The only information I can get from the employer is that they do run credit checks and given the role as a controller within a bank (and its a public service position with the government) that credit is important.

I am thinking that I might be better off paying it in full now at the risk of it looking more recent than leaving it settled but from a few years ago.

Let me know your thoughts if you dont mind me asking. Or anyone else's that may have gone through this in their job search.

[203bravo]

Controller in a bank?  paid or unpaid may not matter... It may be their policy to not accept anyone with a chargeoff for that position.  (sucks that no one will tell you what their criteria is)

Do what you think is best and if you don't get the job this time, then lesson learned... And you are in a much better position when the next job comes along.