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Depending on what state you live in you can get your record expunged after 5-7 years.

Have you looked into a non profit debt management plan (DMP). They can consolidate your payments and have your interest rate reduced to zero, in most cases. It also has little impact on your credit. https://www.nfcc.org/resources/debt-management-plans/

I would contact EO (Executive Office) and let them know your situation. I think this is something they can help resolve. Also, if your account was pre charge off, they should have offered you reinstatement of your account.

Here is a link with more specifics regarding late payments during CV19: https://www.nolo.com/legal-encyclopedia/credit-protections-under-the-coronavirus-cares-act.html

I was told Amex's BK policy is 5 years and 1 month from the filing date if Amex was not included in the BK.

It's been my experience with Experian that it will automatically delete around the time of the estimated date listed. I recommend calling the dispute department directly to see when an item can be removed. 95% of the time I called, they have been helpful. The other 5%, I HUCA. TU will delete up to 6 months early. I would call and the rep will file the dispute and their back office will take care of the rest.

FYI- Portfolio Recovery is one of the collection agencies that will automatically delete once you pay/settle the collections.

Citibank makes you wait 2 years from filing date before they will approve you for a secured card.

I called about the extended wait time and they told me when you generate an ACH from the Amex side it takes and additional 4-5 days to release those funds.

Credit Collection Service is one of the agencies that will delete after payment/settlement.

Since you PIF/completed the DMP, you should not have any problems getting the Gold Card. Just make sure you have low utilization on the CSP prior to applying.

I wonder if they would be willing to re-open the LOC for the customers that proactively closed their accounts.

No! It should be slow and painful....

What I meant by converting was to offer a term loan. If accepted the PLOC balance would be transferred to the loan. It would be a new account but the impact could gain the customer a few points. You can offer to convert to a credit card at either the same APR or the same APR on the remaining balance and a new APR for new charges. Bottom line is that Wells should have though come up with a better plan. Separate the customers in default and the ones in good standing, which I dont think they did from the start. I dont think they give a s**t.

IMHO, Wells Fargo had a lot of options. This includes: The option to convert the PLOC ( in good standing) to a credit card or an installment loan product. Sell the PLOC portfolio. Not to report to the CRA as "Closed by the Credit Grantor) not that the remark has any impact on score. Give more time so that the customer has time to make other arrangements. Look at other areas of their balance sheet to reduce their liability.