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Amex Blacklist Data Points

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Contributor

Re: Amex Blacklist Data Points

DATA POINTS

CHARGE OFF OR BK: charge off

LENGTH OF TIME SINCE DEFAULT: 28 years (~1990 or so)

AMOUNT OWED: $6,500

PAID OFF DEBT: YES (in 2013)

SETTLED DEBT AMOUNT: no (paid full defaulted amount)

AUTHORIZED USER: NO

APP APPROVED: YES (in 2018)

REASON FOR DENIAL: n/a

RECEIVED OPTIMA OASIS: no

TIME FROM OPTIMA CARD TO MAINSTREAM CARD: n/a

Message 21 of 31
Valued Member

Re: Amex Blacklist Data Points

DATA POINTS (please answer these questions)

CHARGE OFF OR BK: CO

LENGTH OF TIME SINCE DEFAULT: 2 years

AMOUNT OWED: $1500

PAID OFF DEBT: yes

SETTLED DEBT AMOUNT: PIF, payment plan

AUTHORIZED USER: no

APP APPROVED: no

REASON FOR DENIAL: "currently or have been enrolled in the past 12 months in a payment plan on one or more of your American Express accounts" - I paid off my account in March 2018 after being in a payment plan. 

RECEIVED OPTIMA OASIS: No, never offered

TIME FROM OPTIMA CARD TO MAINSTREAM CARD: N/A




FICO Score 8 - 11/1/18 (Goal Score - 750 by 12/19)
Equifax - 698
TransUnion - 650
Experian - 650



Message 22 of 31
New Visitor

Re: Amex Blacklist Data Points

i am trying to negoiate 49K worth of amex biz card debt any pointers?  and also did they send you a 1099?

Message 23 of 31
Member

Re: Amex Blacklist Data Points

I settled 3 Amex accounts worth $56,000 for around $15,000. But that was about 9 years ago. And they let me back in years later. Currently have Amex Blue with $45,000 CL.

Message 24 of 31
New Visitor

Re: Amex Blacklist Data Points

Did they send you a 1099 for all the debt the wrote off?
Message 25 of 31
Member

Re: Amex Blacklist Data Points

Of course they 1099 the difference. It's the law.

Message 26 of 31
New Visitor

Re: Amex Blacklist Data Points

Mine are biz cards and the biz. Closed. So I am hoping they 1099 the biz not me personally
Message 27 of 31
Moderator

Re: Amex Blacklist Data Points


@joshuabry wrote:
Mine are biz cards and the biz. Closed. So I am hoping they 1099 the biz not me personally

It still personal guranteed,  So if you negotiate the 49k down to say 25k you will see a 1099 I would think

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Fifth Third | BB&T | Synovus | Commerce
Message 28 of 31
Member

Re: Amex Blacklist Data Points

One of the cards I settled was a business card and I got a 1099.

Message 29 of 31
Valued Contributor

Re: Amex Blacklist Data Points


@joshuabry wrote:

i am trying to negoiate 49K worth of amex biz card debt any pointers?  and also did they send you a 1099?


You will receive a 1099 for the amount Amex "forgave" ie canceled debt. 

 

You should talk to a tax professional regarding the canceled debt. If you were insolvent (negative net worth) the canceled debt can be offset by the amount of insolvency.
https://www.irs.gov/newsroom/what-if-i-am-insolvent

American Express: Platinum Charge & Optima
Barclays: Arrival+ WEMC
Capital One: Savor WMC & Venture VS
Chase: Freedom U VS & CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 30 of 31