They won't remove it unless there's an error. You can try reaching out to the executive office with a sob story, but they probably will not remove it.
My sentiments exactly - thank you for saying it -
@Anonymous wrote:
@lucaramenIs it the reps that caused the charge-off or you? Did you not think that letting your bill go unpaid would have a detrimental effect on your scores? Here’s a suggestion...In the future, be more responsible and pay your debts. Best of luck!
OP - unless the debt is reporting innaccurately, Amex will not remove the account as their internal policy is to abide by FCRA regulations. Even if it were innacurate, chances are they'd just update it with the necessary corrections. The account will remain on your reports for the entire 7 - 7.5 years post DOFD, as per the FCRA credit reporting statute. The CSRs have zero say with regards to this policy and are simply doing their jobs.
What you could do to help your credit rebound is pay the debt - either in full or settle. Having an unpaid charge-off allows for the balance to be included in your overall revolving utilization, which may be further dinging your scores; it also allows the account to be updated periodically or even monthly, by Amex, which will further damage your scores each time and prevent the derogatory from aging. If you pay it, it will be officially closed and updated to reflect a $0 balance, preventing any fadditional updating thus, allowing the account to age and hurt a bit less over time - though it will still hurt for the entire time it remains on your reports. The update to a $0 balance will also reduce overall utilization which may result in a bit of a score boost for you depending on your current utilzation on open accounts. You are not likely to have any success with having the account removed completely as Amex is not known to grant Goodwill deletions or agree to PFDs.
Best of luck to you.
