AMEX always reports late on DMP?

[ojefferyo]

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@Anonymous wrote:

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@Anonymous wrote:

They did accept the DMP, but are reporting late. Does that mean it will still go to collections? Then I should never have added them to DMP? What other options are there?

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Don't really see any other options at this point. Either they agree to delete the tradeline when its paid or they don't. AMEX is tough, they tend to play hardball from what I've heard. Your only viable option at this point is to keep paying them to keep it out of collections, and try to get them to agree to remove payment history when its paid off.

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I haven't heard of any sucess stories of them removing the whole payment history. That's like asking them "forget" you ever had an account with them.

[Anonymous]

So basically the only option is to cough up the 2k as fast as possible, and remove it from the DMP? No other option?

[ojefferyo]

If you can then yes but if you can't then there's not much you can do.

[Anonymous]

Ok. Do I pay through the DMP, or remove from DMP and then pay? If I remove and then pay, can I attempt a PFD?

[ojefferyo]

Personally I would contact AMEX and inform them you'd like to pay but also inform DMP what you are going to do. You can try for PFD, it's a 50/50

[Anonymous]

DOes this match other people's experiences with American Express on a DMP?

[Anonymous]

I shared my story briefly in part on other posts but I think I should just go ahead and write here the entire story.

Late this past summer I decided that my minimums were too high with all of my credit cards and to consolidate payments with a debt management program.

Ironically just after this, I obtained a new job that was a 25% raise, but hey, who cares right? More cash for savings.

I had originally intended to put my Blue Cash card from American Express on the account and pay my Zync in full.

It wasn't until early October that we heard back from American Express that I have to have both cards on the debt management program or else they wouldn't approve it.

Ok fine. I added both cards to the account and proceeded to increase my monthly payment to Greenpath and all was well. Or so I thought.

Fast forward to three days ago on Sunday when I receive an email that my American Express card has gone 30 days late on the credit file.

Credit score on FICO goes from 665 to 597.

I immediately go haywire and call American Express and Greenpath to find out why.

After 2 days of investigation I finally reach someone at American Express who tells me that my charge card is still owed in full even when on the debt management program.

GreenPath did not know this happens with American Express charge cards.

Now here we are two days before Christmas and I have to cough up $2000 when I was totally unprepared (recent vacation, etc).

I emailed the GreenPath CEO and finally had a manager call me. I explained the situation and we agreed that their "counselor" messed up and should have asked if any of the cards were charge cards.

She has agreed to send a certified letterhead GW letter to AMEX to attempt to drop the late filing.

I have 18 days to cough up $2000. I can do this by stretching every last penny and paying rent late (a $100 penalty + pissed off management)

OR

I could wait and have a far more enjoyable January and have this paid off slightly later, but then suffer 60 days late on my credit report.

So my question is: Do I make every possible effort to avoid the 60 days late (and have one of the worst months possible financially), or let it go to 60 because it is not a big difference for my score?

Also, does anyone know how well AMEX will respond to a GW letter with official DMP letterhead?

Thank you and sorry for the wall of text.

[Anonymous]

Well the first option is out the window. Landlord files for eviction on the 10th strict. Therefore, it looks like I'm headed to a 60 day filing. What can I expect credit-wise?

[Imperfectfuture]

While I sympathize with your plight, no one here works for fico, and it looks like hardly anyone has been in this situation. We can't answer your question. You have to try and relax through the tough waiting like all of us that cleaned up our credit.

Wait to see what happens between the DMP and AMEX. Ask family for maybe a short term loan, that you would pay back, since you were going to pay rent late anyway? I would do everything to get the 2k in, because, that will drag your scores down for years.

[Anonymous]

Don't know if this is an option for you, but my church helped me pay my first months rent when I moved here two years ago. They were going to help me again last summer when a judgement had me up against the wall, but I managed to pull it together *literally* at the last minute without them - but the check was waiting for me if I needed it.