American Express Question

[Anonymous]

Hello All,

I have a question. I filed BK in 2007. It included Costco/AMEX. I called AMEX today and was told that I owe 4K. When I filed BK, my balance was 1K. I was wondering if anyone have ever heard or experienced negotiating with them for a lesser amount. I do not want to pay 4K if I don’t have too. In fact, I don’t want to. I just want to know. Besides I would only use it for gas anyways. Costco fuel is way cheaper than the local gas stations.

I have heard that AMEX has long memories. I just want to get another one so that my AAoA will increase. As of right now, my AAoA is less than 2 years. I am gardening right now, but I am trying to get off the BL.

[PlasticOrPlastic]

I was told I would have to pay pretty much every dime I owed in order to be considered.  Fortunatly for me I don't owe AMEX, just waiting for my BK to age out to at least 7 years (long way to go).  My guess is they probably want that entire 4k you owe them.  

[Creditaddict]

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@Anonymous wrote:

Hello All,

I have a question. I filed BK in 2007. It included Costco/AMEX. I called AMEX today and was told that I owe 4K. When I filed BK, my balance was 1K. I was wondering if anyone have ever heard or experienced negotiating with them for a lesser amount. I do not want to pay 4K if I don’t have too. In fact, I don’t want to. I just want to know. Besides I would only use it for gas anyways. Costco fuel is way cheaper than the local gas stations.

I have heard that AMEX has long memories. I just want to get another one so that my AAoA will increase. As of right now, my AAoA is less than 2 years. I am gardening right now, but I am trying to get off the BL.

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I wouldn't bother... the only way is if you can get the oasis program but i assume since it was a ch 7? they can't probably legally offer you the oasis program because that could be looked at as trying to collect on debt they can't... they can tell you what they consider the balance to be but that's it.... and without oasis program paying them will only take you off blacklist but won't give you any card 

[NonSufficientFunds]

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

[Anonymous]

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@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

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I guess they added the late fees and penalties to it.  Other than that, I have no idea.

[yudeology101]

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@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

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My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP? 

[Anonymous]

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@yudeology101 wrote:

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@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

---

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP? 

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To be honest, I can't tell you but I will investigate further.  I never had a $4K limit on the card.  My total limit was 1K and I guess after 7 years they added interest and penalties.  If I can't get the card again, then why pay it off.

[Creditaddict]

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@Anonymous wrote:

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@yudeology101 wrote:

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@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

---

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP? 

---

To be honest, I can't tell you but I will investigate further.  I never had a $4K limit on the card.  My total limit was 1K and I guess after 7 years they added interest and penalties.  If I can't get the card again, then why pay it off.

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you don't... you filed BK!

[john398]

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@Creditaddict wrote:

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@Anonymous wrote:

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@yudeology101 wrote:

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@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

---

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP? 

---

To be honest, I can't tell you but I will investigate further.  I never had a $4K limit on the card.  My total limit was 1K and I guess after 7 years they added interest and penalties.  If I can't get the card again, then why pay it off.

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you don't... you filed BK!

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I thought thats only if he included this card in his BK, did he?

[Anonymous]

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@john398 wrote:

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@Creditaddict wrote:

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@Anonymous wrote:

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@yudeology101 wrote:

---

@NonSufficientFunds wrote:

What am I missing? -

You state that your balance was $1000, but AmEx says you actually owe $4000.

How does this compute ??

---

My assumption is that the actual $4k owed to AMEX went to CO, and $1k is the settle amount by the CO w/ OP? 

---

To be honest, I can't tell you but I will investigate further.  I never had a $4K limit on the card.  My total limit was 1K and I guess after 7 years they added interest and penalties.  If I can't get the card again, then why pay it off.

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you don't... you filed BK!

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I thought thats only if he included this card in his BK, did he?

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Yes I did file it within my BK.  I thought that I would try to get off their blacklist.  From what I am hearing it is not possible, so I will just have to do without it.  Maybe one day I can get a AMEX again.  I was just wondering how long does it take to get back in the good graces of AMEX?