topic Re: Will Amex Delete Old Paid Collection... in Rebuilding Your Credit

Will Amex Delete Old Paid Collection...

Anonymous — Tue, 28 Sep 2010 05:45:13 GMT

I previously had an Amex Green card with Amex that went into collections in 08, I've paid the account and Amex has issued me an Amex Optima credit card to redeem myself in the process. The question I have is will they delete the old collection account that is still reporting on my report? They backdated the Optima so I don't need the paid off closed account for aging.

Re: Will Amex Delete Old Paid Collection...

sobetrader — Thu, 13 Jan 2011 05:42:07 GMT

ttt

Re: Will Amex Delete Old Paid Collection...

RobertEG — Thu, 13 Jan 2011 06:27:08 GMT

It is entirely at their discretion. Their credit reporting agreement with the CRAs would prevent any such deletion, if they choose to honor that agreement. It is entirely up to them.

Complications arise when a debt collector has reported a CA to your CR.

AMEX, as the OC, cannot delete the reporting of a CA done by a debt collector. It was not their reporting, and thus they have no authority to request its deletion.

Re: Will Amex Delete Old Paid Collection...

haulingthescoreup — Thu, 13 Jan 2011 06:32:57 GMT

I thnk that AmEx usually does its own collecting, through its in-house collections. I could very well be wrong, though.

OP, you might want to request that a mod move this thread over to Credit Cards. There are some members there who are familiar with the Optima program, and they could tell you if the negative was removed from their reports once they jumped through all the hoops.

If you want it moved, click on Options above on the right, and then select Report inappropriate content. A text box will open up, and you can enter your request that the thread be moved to Credit Cards (or wherever.) Just a thought.

Re: Will Amex Delete Old Paid Collection...

Anonymous — Thu, 13 Jan 2011 06:36:22 GMT

@RobertEG wrote:
It is entirely at their discretion. Their credit reporting agreement with the CRAs would prevent any such deletion, if they choose to honor that agreement. It is entirely up to them.
Complications arise when a debt collector has reported a CA to your CR.
AMEX, as the OC, cannot delete the reporting of a CA done by a debt collector. It was not their reporting, and thus they have no authority to request its deletion.

I agree that an OC can not have a CA delete their reporting, but in AMEX case they usually only assign the debt as all collection process has to be approved by AMEX.

In this case AMEX more then likely would be able to remove any reporting if they agree to removal.

Re: Will Amex Delete Old Paid Collection...

RobertEG — Thu, 13 Jan 2011 06:55:28 GMT

HTSU, I agree. Amex usually does its collections through in-house divisions, or contractors.

But, in order for whatever means they use to post a collection to a consumer CR, they must first be as debt collector, under FDCPA 803(6).

That requires that any reporting of a collection be done by a party who uses a name other than that of the OC.

Being an in-house or contractor affiliate of the OC may give the Amex OC some clout in getting the CA deleted, but under FDCPA 803(6), they are separate entities.

CR deletion must still come from the party who posted the CA.

Re: Will Amex Delete Old Paid Collection...

sobetrader — Thu, 13 Jan 2011 16:36:20 GMT

The account never went to a collection agency it was always handled by Amex and the payment was made directly to Amex.

I read on another post from early 2010 that someone on this forum sent a GW to Amex and Amex actually removed it.