topic Re: PAY FOR DELETE - AMEX in Rebuilding Your Credit

PAY FOR DELETE - AMEX

Anonymous — Wed, 16 May 2018 20:48:00 GMT

I have couple of AMEX cards total debt less then $12,000 which I believe they have charged-off.
I was unable to pay since 2014, I had no money and Amex has "cease and desist" on my account.

I tried to settle the debt recently and they are offering 65% settlement terms but will show it on my report as "Settled"

Id rather have PAID IN FULL or PAY FOR DELETE

Has anyone had any success with AMEX regarding this? AMEX are the only negative entries on my report and really affecting my score.

Any advice/feedback will be greatly appreciated.

Any advice/feedback will be greatly appreciated.

Re: AMEX Settlement - Mark as "Settled" ?

Anonymous — Wed, 16 May 2018 20:39:41 GMT

ANYONE?

Re: AMEX Settlement - Mark as "Settled" ?

Pikaboo-icu — Wed, 16 May 2018 21:23:59 GMT

I'm not certain about this so my advice wouldn't be very helpful. That said; many people are perhaps at work etc... Give it a little time & check back for replies.

CHEERS

Re: AMEX Settlement - Mark as "Settled" ?

Anonymous — Thu, 17 May 2018 01:52:21 GMT

No one has replied. So apparently its not just people at work

am i posting this in the right category?

Re: PAY FOR DELETE - AMEX

beutiful5678 — Thu, 17 May 2018 05:08:35 GMT

I don't have any experience with AMEX but I've read here on the Rebuilding forum that PFDs generally aren't successful with OCs. (PFDs are most successful with CAs.) I guess it's worth a shot though - write one hell of a letter proposing a PFD.

Also, if you settle I don't think they are permitted to report as "Paid in full" as it isn't accurate - instead they can report as just "Paid."

Re: PAY FOR DELETE - AMEX

2IMPROVE — Thu, 17 May 2018 23:41:39 GMT

To my knowledge AMEX does not PFD. If they settle or you pay in full they are good at re-establishing you again.

Re: PAY FOR DELETE - AMEX

Anonymous — Fri, 18 May 2018 05:23:29 GMT

The only thing you can do is ask them. But the sooner you get it over with, the better. Pay it and start the clock. I mean, worse case scenario is it's off in 7 years. So if they don't do PFD, or PIF, settle for 65% seems like a decent deal. And in 7 years it's off. Each year the impact will be less and less. One thing I've been learning is sometimes credit building is very slow. For me at least. Just do the best things you can do to build points over time.