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Being sued by AmEx

Bmac66
Frequent Contributor

Being sued by AmEx

Has anyone had success with AmEx working with you once they've filed suit?  Suing for around $11k. Do I contact them directly or contact the attorney they're using? The alternative is Chapter 13 and they will get pennies on the dollar.  Met with an attorney last week. I would prefer not to go that route if I don't have to. 

Message 1 of 6
5 REPLIES 5
FiresOut
Super Contributor

Re: Being sued by AmEx

Usually depending on the state. You'll go to a back room and discuss a payment arraingement and come to an agreement before you reach the judge and sign it. But with all the cards below. How did you get into that position? Are they close to charge off status too?

Message 2 of 6
nugg3t
Valued Member

Re: Being sued by AmEx

I actually got sued by Amex for 16k, that is what ultimately made me decide it was time for bk. I tried for a few months prior to filing to work out a payment arrangement but everything they offered was well out of reach in terms of a payment plan. I’m not saying you can’t have success with them but I tried several different negotiations to no avail. Wish you luck on dealing with them.

FYI: I started trying to negotiate before they filed and they were even open to discussing after they filed suit, however, they make you sign a document that if you default on the payment plan they get an automatic judgement against you.
Filed BK7 - 11-01-2018

Starting Scores FICO 8 (Nov '18):
EQ- 506, TU- 505, EX- 480

Current Scores: Dec ‘19
Message 3 of 6
StartedOver62018
Contributor

Re: Being sued by AmEx

How long has it been since you made a payment? Have you checked on the Statute of Limitations (SOL) in your state? I'm in California and ended up with a default judgement for not showing up to court (I believed I was improperly served and put my head in the sand). If I would have just shown up and stated that the SOL had expired, the case would have been dismissed and I wouldn't have filed BK years later to get out from under a 50k (with 10 years of interest) judgement. Just food for thought. 

Ch 7 Discharge 10/15/2018

Started 10/18: Eq Fico 9 ???, Ex Fico 9 620, Tu Fico 8 511
Current 8/3: Eq Fico 9 736, Ex Fico 9 717, Tu Fico 9 704 Fico 8 655

Cap1 Plat PC to QS 1.5k, Discover it Chrome Secured $500, NFCU GoRewards 2k (was Secured nRewards $500), Share Loan 1k (paid down to 8% due 2/2020), VentureOne 1k, NFCU CLOC 1k, OllO Optimum $800
Message 4 of 6
Bmac66
Frequent Contributor

Re: Being sued by AmEx

I contacted their attorneys and we reached a settlement and payment arrangements
Message 5 of 6
StartedOver62018
Contributor

Re: Being sued by AmEx

As long as the parments are manageable and will not cause you to fall behind on other things, this sounds like win to me. Wells Fargo sold off my debt to a company for pennies on the dollar. That company (Persolve LLC) wanted 100% plus interest. 

Ch 7 Discharge 10/15/2018

Started 10/18: Eq Fico 9 ???, Ex Fico 9 620, Tu Fico 8 511
Current 8/3: Eq Fico 9 736, Ex Fico 9 717, Tu Fico 9 704 Fico 8 655

Cap1 Plat PC to QS 1.5k, Discover it Chrome Secured $500, NFCU GoRewards 2k (was Secured nRewards $500), Share Loan 1k (paid down to 8% due 2/2020), VentureOne 1k, NFCU CLOC 1k, OllO Optimum $800
Message 6 of 6
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