topic Re: Amex was IIB 3 years ago. If I pay them, will they consider me? in Credit Cards

Amex was IIB 3 years ago. If I pay them, will they consider me?

Anonymous — Sat, 06 Feb 2016 03:40:54 GMT

I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Anonymous — Sat, 06 Feb 2016 05:54:19 GMT

@Anonymous wrote:
I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?

Amex will not forget your BK even after it falls off your CR. Whether they will give you another chance is a separate matter.

For how much did you burn them?

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

OmarGB9 — Sat, 06 Feb 2016 06:07:19 GMT

Typically if you burn Amex, even if you pay them back, they take a LONG time to let you back in. Like, over a decade, sorry to say.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

UncleB — Sat, 06 Feb 2016 16:24:32 GMT

@Anonymous wrote:
I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?

They once had something called the "Oasis Program" but it was geared towards rehabilitating folks with charged-off accounts. You might have some luck with folks in that department (google 'Amex Oasis') but since your account was included in a BK7 there are strict federal laws against Amex seeking the repayment, so I'm not sure how that would work.

If Oasis (or a similar program) isn't an option, you might just have to wait it out. I got back in after 15 years; it might not have taken quite that long (I never tried earlier) but I suspect it may be a few years. Keeping this in mind, things are always changing in the credit world, so there's always a chance. Also, folks who are 'blacklisted' have reported that when they apply, they are turned down without a credit pull, so if that is still the case at least there's no harm in trying from time to time.

Hope this helps!

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

CreditCuriosity — Sat, 06 Feb 2016 17:13:10 GMT

Pay them back also 5 years post BK they will consider you again. 5 years+ is post bk to be considered and obviously paying them back will help out even more. So it sounds like it to me that you have two years left before they would consider you again. It you want to do the right thing pay them back as well before that if you can afford to and want to do business with them after the 5 year mark

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

pizza1 — Sat, 06 Feb 2016 20:22:35 GMT

CC is correct.

If you don't pay them back....dont look at getting back in with them for years.....10+ even long after your BK is off reports.

If you pay them back...The soonest they let peeps back in is 5yrs post DC date of BK.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Anonymous — Sat, 06 Feb 2016 20:27:59 GMT

Optima Oasis is still alive and kicking. That's the card in my signature and there is a huge thread on it here on Myfico. The problem is it's invite only and I'm fairly certain that most of the people who got the offer were CO. The benifit of the program is not Just getting back in with Amex, in my opinion, the most important thing it is the fact that amex deleted the lates from my old tradeline after I had paid them back. That was like gold when I was rebuilding.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

sjt — Mon, 08 Feb 2016 18:01:39 GMT

@UncleB wrote:
@Anonymous wrote:
I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?
They once had something called the "Oasis Program" but it was geared towards rehabilitating folks with charged-off accounts. You might have some luck with folks in that department (google 'Amex Oasis') but since your account was included in a BK7 there are strict federal laws against Amex seeking the repayment, so I'm not sure how that would work.

If Oasis (or a similar program) isn't an option, you might just have to wait it out. I got back in after 15 years; it might not have taken quite that long (I never tried earlier) but I suspect it may be a few years. Keeping this in mind, things are always changing in the credit world, so there's always a chance. Also, folks who are 'blacklisted' have reported that when they apply, they are turned down without a credit pull, so if that is still the case at least there's no harm in trying from time to time.

Hope this helps!

The Oasis Program is not available to folks that have a BK. The reason for this is that Oasis is a from of collection and atempting to collect on a BK account is illegal.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Anonymous — Mon, 08 Feb 2016 18:31:28 GMT

@sjt wrote:
@UncleB wrote:
@Anonymous wrote:
I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?
They once had something called the "Oasis Program" but it was geared towards rehabilitating folks with charged-off accounts. You might have some luck with folks in that department (google 'Amex Oasis') but since your account was included in a BK7 there are strict federal laws against Amex seeking the repayment, so I'm not sure how that would work.

If Oasis (or a similar program) isn't an option, you might just have to wait it out. I got back in after 15 years; it might not have taken quite that long (I never tried earlier) but I suspect it may be a few years. Keeping this in mind, things are always changing in the credit world, so there's always a chance. Also, folks who are 'blacklisted' have reported that when they apply, they are turned down without a credit pull, so if that is still the case at least there's no harm in trying from time to time.

Hope this helps!

The Oasis Program is not available to folks that have a BK. The reason for this is that Oasis is a from of collection and atempting to collect on a BK account is illegal.

Unless something has changed, it is available to those who included Amex in a BK. They offered it to me about 20 years ago. However, the stipulation was that I pay the original amount that was included in the BK.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

UncleB — Mon, 08 Feb 2016 18:52:56 GMT

@Anonymous wrote:
@sjt wrote:
@UncleB wrote:
@Anonymous wrote:
I included Amex in BK7 3 years ago. I am wondering.. if I pay what I burned them for, do I have a chance of being approved again before my BK falls off? Does anyone have experience with this?
They once had something called the "Oasis Program" but it was geared towards rehabilitating folks with charged-off accounts. You might have some luck with folks in that department (google 'Amex Oasis') but since your account was included in a BK7 there are strict federal laws against Amex seeking the repayment, so I'm not sure how that would work.

If Oasis (or a similar program) isn't an option, you might just have to wait it out. I got back in after 15 years; it might not have taken quite that long (I never tried earlier) but I suspect it may be a few years. Keeping this in mind, things are always changing in the credit world, so there's always a chance. Also, folks who are 'blacklisted' have reported that when they apply, they are turned down without a credit pull, so if that is still the case at least there's no harm in trying from time to time.

Hope this helps!

The Oasis Program is not available to folks that have a BK. The reason for this is that Oasis is a from of collection and atempting to collect on a BK account is illegal.

Unless something has changed, it is available to those who included Amex in a BK. They offered it to me about 20 years ago. However, the stipulation was that I pay the original amount that was included in the BK.

I agree with you both...

I've read reports of folks being allowed to use it on accounts IIBK, but I'm also aware that it's against federal law for a creditor to try to enforce a debt that was discharged, which is what the Oasis program effectively does once established (albeit entered into voluntarily). That's why I said, "...I'm not sure how that would work."

The only way to know if it's an option or not (at least at this time) is for the OP to simply call them and ask. Getting the correct number could require some legwork, but it's not insurmountable.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

pizza1 — Mon, 08 Feb 2016 19:39:28 GMT

They can't collect from you an acct that was IIB, BUT you can voluntarily pay anyone back you want to after your BK dc. Thats NOT against the law to do do. Its just against the law for a previous creditor to try and collect on an acct that was IIB.

With that said...AMEX knows this, and will offer Oasis to a select few if paid back.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Namaste7 — Fri, 29 Apr 2016 03:31:21 GMT

@pizza1 wrote:
They can't collect from you an acct that was IIB, BUT you can voluntarily pay anyone back you want to after your BK dc. Thats NOT against the law to do do. Its just against the law for a previous creditor to try and collect on an acct that was IIB.

With that said...AMEX knows this, and will offer Oasis to a select few if paid back.

Are there any data points on myFiCO for users who've paid IIBs (through Oasis or directly) and got back in under 10 years? My prior search only evidences the following incidences: (1) 5+yr DC BK where AMEX was not IIB'd OR (2) 15+yrs DC BK that was IIB'd (and IIB account was not repaid).

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Kidcat — Fri, 29 Apr 2016 04:23:00 GMT

@taxdoc wrote:
@pizza1 wrote:
They can't collect from you an acct that was IIB, BUT you can voluntarily pay anyone back you want to after your BK dc. Thats NOT against the law to do do. Its just against the law for a previous creditor to try and collect on an acct that was IIB.

With that said...AMEX knows this, and will offer Oasis to a select few if paid back.
Are there any data points on myFiCO for users who've paid IIBs (through Oasis or directly) and got back in under 10 years? My prior search only evidences the following incidences: (1) 5+yr DC BK where AMEX was not IIB'd OR (2) 15+yrs DC BK that was IIB'd (and IIB account was not repaid).

I paid IIB as was let back in less than 10 years post BK. It should be noted that I had 3 cards with AMEX pre BK and only one was included. I would have kept it, but once they knew I filed the BK they closed it, so I amended and included them.

OP think hard and long. It depends on how much. For me it was worth it because I needed to use AMEX for work related travel. We'll see how it goes, but so far so good. And I've nearly made back what I paid them in sign up bonuses on 3 cards

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

sjt — Fri, 29 Apr 2016 19:34:33 GMT

Call the global collection department . Ask them if you can get the Optima Card.

Heres a link to the numbers:

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Namaste7 — Sat, 30 Apr 2016 03:33:44 GMT

@Kidcat wrote:
@taxdoc wrote:
@pizza1 wrote:
They can't collect from you an acct that was IIB, BUT you can voluntarily pay anyone back you want to after your BK dc. Thats NOT against the law to do do. Its just against the law for a previous creditor to try and collect on an acct that was IIB.

With that said...AMEX knows this, and will offer Oasis to a select few if paid back.
Are there any data points on myFiCO for users who've paid IIBs (through Oasis or directly) and got back in under 10 years? My prior search only evidences the following incidences: (1) 5+yr DC BK where AMEX was not IIB'd OR (2) 15+yrs DC BK that was IIB'd (and IIB account was not repaid).
I paid IIB as was let back in less than 10 years post BK. It should be noted that I had 3 cards with AMEX pre BK and only one was included. I would have kept it, but once they knew I filed the BK they closed it, so I amended and included them.

OP think hard and long. It depends on how much. For me it was worth it because I needed to use AMEX for work related travel. We'll see how it goes, but so far so good. And I've nearly made back what I paid them in sign up bonuses on 3 cards

Thanks for sharing. I know YMMV but this is encouraging. The worse that can happen is that they say no but at least I know I settled the score with them. To your point, I will think on this more before any final decisions are made.

*cheers* to making up that "forgive me" payment in bonuses

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

Namaste7 — Sat, 30 Apr 2016 03:34:13 GMT

@sjt wrote:
Call the global collection department . Ask them if you can get the Optima Card.

Heres a link to the numbers:

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

Thanks

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

sjt — Sat, 30 Apr 2016 03:53:54 GMT

@taxdoc wrote:
@sjt wrote:
Call the global collection department . Ask them if you can get the Optima Card.

Heres a link to the numbers:

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066
Thanks

Paying them off will get you off the blacklist and it goes a long way with Amex.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

coldnmn — Sat, 30 Apr 2016 10:08:27 GMT

Be very careful! I was told paying one IIB you are responsible to pay off all creditors IIB. You can't pick and choose!

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

sjt — Sat, 30 Apr 2016 14:51:54 GMT

@coldnmn wrote:
Be very careful! I was told paying one IIB you are responsible to pay off all creditors IIB. You can't pick and choose!

This is not true. Once your BK is discharged you have the right to pay any discharged debt of your choice.

Re: Amex was IIB 3 years ago. If I pay them, will they consider me?

UncleB — Sat, 30 Apr 2016 16:14:47 GMT

@sjt wrote:
@coldnmn wrote:
Be very careful! I was told paying one IIB you are responsible to pay off all creditors IIB. You can't pick and choose!
This is not true. Once your BK is discharged you have the right to pay any discharged debt of your choice.

I'll defer to the bankruptcy specialists on here, but my understanding during my own Chapter 7 was that once "in" bankruptcy - and immediately preceding it - you can't show preferential treatment to any creditors or the court could either 'unwind' the transaction or dismiss your petition entirely.

However, after your discharge you are welcome to pay anybody you wish, but can't be compelled to.

If I'm wrong about this (or something has changed) somebody please feel free to correct me.