topic Re: American Express Question in Credit Cards

American Express Question

Anonymous — Mon, 24 Feb 2014 19:28:33 GMT

Hello All,

I have a question. I filed BK in 2007. It included Costco/AMEX. I called AMEX today and was told that I owe 4K. When I filed BK, my balance was 1K. I was wondering if anyone have ever heard or experienced negotiating with them for a lesser amount. I do not want to pay 4K if I don’t have too. In fact, I don’t want to. I just want to know. Besides I would only use it for gas anyways. Costco fuel is way cheaper than the local gas stations.

I have heard that AMEX has long memories. I just want to get another one so that my AAoA will increase. As of right now, my AAoA is less than 2 years. I am gardening right now, but I am trying to get off the BL.

Re: American Express Question

PlasticOrPlastic — Mon, 24 Feb 2014 19:58:42 GMT

I was told I would have to pay pretty much every dime I owed in order to be considered. Fortunatly for me I don't owe AMEX, just waiting for my BK to age out to at least 7 years (long way to go). My guess is they probably want that entire 4k you owe them.

Re: American Express Question

Creditaddict — Mon, 24 Feb 2014 20:00:38 GMT

@Anonymous wrote:
Hello All,

I have a question. I filed BK in 2007. It included Costco/AMEX. I called AMEX today and was told that I owe 4K. When I filed BK, my balance was 1K. I was wondering if anyone have ever heard or experienced negotiating with them for a lesser amount. I do not want to pay 4K if I don’t have too. In fact, I don’t want to. I just want to know. Besides I would only use it for gas anyways. Costco fuel is way cheaper than the local gas stations.

I have heard that AMEX has long memories. I just want to get another one so that my AAoA will increase. As of right now, my AAoA is less than 2 years. I am gardening right now, but I am trying to get off the BL.

I wouldn't bother... the only way is if you can get the oasis program but i assume since it was a ch 7? they can't probably legally offer you the oasis program because that could be looked at as trying to collect on debt they can't... they can tell you what they consider the balance to be but that's it.... and without oasis program paying them will only take you off blacklist but won't give you any card

Re: American Express Question

NonSufficientFunds — Mon, 24 Feb 2014 20:13:10 GMT

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

Re: American Express Question

Anonymous — Mon, 24 Feb 2014 20:17:15 GMT

@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

I guess they added the late fees and penalties to it. Other than that, I have no idea.

Re: American Express Question

yudeology101 — Mon, 24 Feb 2014 20:18:24 GMT

@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP?

Re: American Express Question

Anonymous — Mon, 24 Feb 2014 20:24:24 GMT

@yudeology101 wrote:
@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP?

To be honest, I can't tell you but I will investigate further. I never had a $4K limit on the card. My total limit was 1K and I guess after 7 years they added interest and penalties. If I can't get the card again, then why pay it off.

Re: American Express Question

Creditaddict — Mon, 24 Feb 2014 21:42:07 GMT

@Anonymous wrote:
@yudeology101 wrote:
@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP?
To be honest, I can't tell you but I will investigate further. I never had a $4K limit on the card. My total limit was 1K and I guess after 7 years they added interest and penalties. If I can't get the card again, then why pay it off.

you don't... you filed BK!

Re: American Express Question

Anonymous — Mon, 24 Feb 2014 22:21:58 GMT

@Creditaddict wrote:
@Anonymous wrote:
@yudeology101 wrote:
@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP?
To be honest, I can't tell you but I will investigate further. I never had a $4K limit on the card. My total limit was 1K and I guess after 7 years they added interest and penalties. If I can't get the card again, then why pay it off.
you don't... you filed BK!

I thought thats only if he included this card in his BK, did he?

Re: American Express Question

Anonymous — Tue, 25 Feb 2014 13:26:16 GMT

@Anonymous wrote:
@Creditaddict wrote:
@Anonymous wrote:
@yudeology101 wrote:
@NonSufficientFunds wrote:
What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP?
To be honest, I can't tell you but I will investigate further. I never had a $4K limit on the card. My total limit was 1K and I guess after 7 years they added interest and penalties. If I can't get the card again, then why pay it off.
you don't... you filed BK!
I thought thats only if he included this card in his BK, did he?

Yes I did file it within my BK. I thought that I would try to get off their blacklist. From what I am hearing it is not possible, so I will just have to do without it. Maybe one day I can get a AMEX again. I was just wondering how long does it take to get back in the good graces of AMEX?

Re: American Express Question

takeshi74 — Tue, 25 Feb 2014 13:52:35 GMT

It's not just a matter of time. You'd need to take care of the amount that they indicated is owed to them.

Re: American Express Question

Anonymous — Tue, 25 Feb 2014 15:40:12 GMT

@takeshi74 wrote:
It's not just a matter of time. You'd need to take care of the amount that they indicated is owed to them.

Now I am confused. According to Creditaddict, I have to be offerred the oasis program to get back in their good graces. When I called them, I was not offerred that. Besides why would I pay the amount and not be able to get another card with them. They were included within my BK. I only owed them $1000, now it is $4000 so they say. Like one of the responders stated, it is illegal for them to come after me for the amount I owe them. That being said, I may not even be qualified to participate in the Oasis program. Bottomline is - if I wanted to pay them. How can I do that, when they are not allowed to collect from me because of BK? Also, why would I pay them and then they tell me we will never give you a AMEX card. Please explain.

Re: American Express Question

Anonymous — Tue, 25 Feb 2014 17:43:57 GMT

@Anonymous wrote:
@takeshi74 wrote:
It's not just a matter of time. You'd need to take care of the amount that they indicated is owed to them.
Now I am confused. According to Creditaddict, I have to be offerred the oasis program to get back in their good graces. When I called them, I was not offerred that. Besides why would I pay the amount and not be able to get another card with them. They were included within my BK. I only owed them $1000, now it is $4000 so they say. Like one of the responders stated, it is illegal for them to come after me for the amount I owe them. That being said, I may not even be qualified to participate in the Oasis program. Bottomline is - if I wanted to pay them. How can I do that, when they are not allowed to collect from me because of BK? Also, why would I pay them and then they tell me we will never give you a AMEX card. Please explain.

I would ask them to break down the $4000 so you know where it is all coming from. Compound interest is a hell of a thing, I don't think its unreasonable for a $1k balance to turn into $4k in 7 years with fees and penalties added in. Did they tell you they would never give you an AMEX card? Why don't you just ask them "if I pay the balance will I be eligible to open a new account with you?" I don't know the intricacies of BK law but it doesn't sound like they are making any attempt to collect the debt from you, you reached out to them.

Re: American Express Question

Anonymous — Tue, 25 Feb 2014 18:31:51 GMT

@Anonymous wrote:
@Anonymous wrote:
@takeshi74 wrote:
It's not just a matter of time. You'd need to take care of the amount that they indicated is owed to them.
Now I am confused. According to Creditaddict, I have to be offerred the oasis program to get back in their good graces. When I called them, I was not offerred that. Besides why would I pay the amount and not be able to get another card with them. They were included within my BK. I only owed them $1000, now it is $4000 so they say. Like one of the responders stated, it is illegal for them to come after me for the amount I owe them. That being said, I may not even be qualified to participate in the Oasis program. Bottomline is - if I wanted to pay them. How can I do that, when they are not allowed to collect from me because of BK? Also, why would I pay them and then they tell me we will never give you a AMEX card. Please explain.
I would ask them to break down the $4000 so you know where it is all coming from. Compound interest is a hell of a thing, I don't think its unreasonable for a $1k balance to turn into $4k in 7 years with fees and penalties added in. Did they tell you they would never give you an AMEX card? Why don't you just ask them "if I pay the balance will I be eligible to open a new account with you?" I don't know the intricacies of BK law but it doesn't sound like they are making any attempt to collect the debt from you, you reached out to them.

Correct, I did reach out to them. I don't have a problem with paying the amount that I owe. I was just wondering did anyone ever negotiated with them.

You are right about asking them would I be eligible to open another account with them, but I don't want to be suckered into paying 4K and not have an opportunity to get a card in the future.