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
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
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.
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
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.