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Posts posted by JerHawk

  1. On 11/14/2019 at 9:17 AM, mysticspirit25 said:

    Hello,  I had 7 Amex cards which all charged off.  Total owed Amex was about 60k over the 7 cards.  I ended up settling most of them for like 18 cents on the dollar after they went to Zwicker for lawsuit and I elected arb.


    Anyway, on one of the business cards I just never did anything with, I got the email below.  It says I can PIF and get the Optima card to rebuild with them and I will be approved unless I am in BK or have an active card or already received and accepted this offer from a CA.  I am thinking about doing it b/c I can afford the 4k they are asking for, but know that I settled other accounts at a very low percentage.


    I thought you couldn't get into Amex unless you PIF all balances.  The offer says nothing about it.  I have no interest in Amex if I need to pay back the other 50k that was forgiven.  I also have 2 small accounts that charged off (around 2k each) that never collected or settled.


    Thoughts?  Below is the email I got.


    American Express understands that good people can fall on hard times and reestablishing credit is one of the challenges once things start to look better. We have your back!

    You have an opportunity to regain Card Membership

    American Express would like to offer you an opportunity to regain Card Membership. All you have to do is pay your balance in full on the account referenced above and you will receive an Optima® Card application.

    You can choose any of the flexible payment options below, call 866-205-4559 for details.

      Option #1 Option #2 Option #3
    Number of Payment(s) 1 6 12
    Monthly Payment Amount* $4,195.23 $699.21 $349.61

    Your application will be approved unless you have an active bankruptcy at the time of your application, you have accepted another offer for an Optima Card account from us or a collection agency, you have an active American Express account and/or we determine that you do not have the financial capacity to make the minimum payment on this new Optima Card account.

    If regaining Card Membership doesn’t interest you, how about settling your account for less than the balance owed?

    Here are some offers available to settle your account and reduce the amount you repay.

      Option #4 Option #5 Option #6
    Total Settlement Offer $2,307.38 $2,517.24 $2,727.12
    Number of Payment(s) 1 12 24
    Monthly Payment Amount* N/A $209.77 $113.63

    You should understand and consider the terms of any settlement before agreeing to it.

    To accept one of these offers, or if you have any questions, call 866-205-4559 by 12/8/2019. We must speak with you to complete the acceptance process. Please be advised that American Express is not obligated to renew these offers.

    We hope to hear from you soon.

    American Express Global Collections

    Congrats thats a great settlement - What was your strategy with negotiating with Zwicker? 

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