Need Help with AMEX Debt Consolidation Program

[sl]

Good morning everyone. I need some assistance on how to handle a situation with AMEX and a debt consolidation program. Back in 2003 I got myself in a real financial bind due to my divorce and love for credit cards. Well, to bring you current, I went in a debt consolidation program with AMEX. The program waived all interst and I only had to pay the principle. The downside to this program is that AMEX reports you 120 days late on your CR and shows the original balance until it is paid in full. The rules are 60 days prior to you thinking you are close to paying the card off, you have to call in a request the balance (that does take 60 days). Once that is paid in full, the consolidation program calls AMEX and places you in the interest waiver phase of the program. I have been in the interest waiver phase since April 6th. I have called AMEX and they will not talk to me and refer me back to their debt management consolidation (3rd party). I call them and they can only tell me it takes a long time and there is nothing I can do. I am frustrated as i stayed current on the prgram at all times - never late. Now my CR still shows I owe them $7800 and 120 days past due and I cannot get anyone to help to me through this phase of the program.

Does anyone have any suggestions on how I can move this along.

Thanks.

I would like to add that my fico score is 635 and I feel once this is fixed, it could go up to 650.

Message Edited by sl on 05-15-2007 06:43 AM

[Tuscani]

Call Amex back and ask them about their Oasis program.

[sl]

Thanks Tuscani. I just called AMEX and asked them about the Oasis program and got transfered back to NCO their debt consolidation program. I guess I just have to let AMEX take their sweet time and to go through the interst waiver to get this off my record. I must say they are difficult at best to work with once you get on their bad side. But on a different note. Citicorp is awesome. I called them the other day to see if I could get a lower interest rate as I am at 17.9%. They dropped me down to 5.9% for a year so I could pay the card off faster and still have charge privillages with them. Also submitted Paid and Delete letter to a collection agency and wrote 3 Goodwill letters. I will keep people posted on that. Repairing credit is a long and difficult journey through life but lessons well learned.

Message Edited by sl on 05-15-2007 07:22 AM

[Tuscani]

Call Oasis direct. Do a forums search for their number.