Debt settlement is something many people consider if they are able to offer a lump sum of money up front – usually less than the total amount owed – in the hope the creditor will agree to this and accept the debt as settled. A seen in the sample settlement letter below, Amex was willing to settle with this customer for about 24% of what the customer actually owed. American Express will generally be willing to negotiate a settlement on your credit card account if 1) you are past due on you credit card bill, and 2) you can demonstrate a legitimate financial hardship. They again refused that offer. This letter is confirm our telephone conversation with Nationwide Credit, Inc. regarding settlerr:ent cf the balance owed cn your American Express account referenced above. Client had 4 accounts totaling $68,685.74. The Settlement Offer Letters “each offered the plaintiff to resolve his account for sixty percent (60%) of his balance” but stated, “In order to accept this offer, please call American Express at 1-877-443-0144.” if you pay just 50% of your past due balance, we'll waive the … American Express offers a range of flexible and customised billing and settlement options for your Corporate Card account, including: Individually billed, individually settled. Not available in all states, state restrictions may apply. All Rights Reserved. Settlement Letter from American Express Consumer Debt Help Association, Debt Relief Specialist wants to share a settlement letter from American Express. ... Below is a sample debt settlement offer letter that Barclay’s […] Tagged With: barclays bank, debt negotiation, debt settlement letter, reputable debt settlement company, sample letter, settlement offer letter. Prior to the financial crisis of 2008, American Express was not a bank like most other major credit card issuers (such as Bank of … And for a while now, they have become a significant player in the personal credit card market, and as with any big credit card company, they have customers for whatever reason, cannot pay their credit card bills. Amex never sold the debt and every so often I would receive letters to settle for 60% with two years of payments. American Express Debt Settlement Letter$6,500.00 paid on balance of $21,655.31. Each Cardmember receives a monthly billing statement or Expense Voucher from American Express. $4899.85 Offer $1800.00 Savings $3099.85 Savings 63% Settlement Letter Sept 2017 Savings 63% We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. When we discussed the settlement offer, you agreed to pay the settlement amount listed below to resolve this account. This was probably offered for almost a year. US Bank Letter Of Debt Negotiation$1,200.00 paid in installments over 3 months on balance of $3,242.33. There are files that are flagged for no settlement. Your email address will not be published. Please seek financial advice from a qualified professional. © Copyright 2019 LeaveDebtBehind.com. By law, responsibility for unsecured debts transfers to a deceased person’s estate and the executor or administrator of the estate must work with the estate’s creditors. If you don’t already have a Google account, you should—use it to read and post reviews, as well as access other Google products like Gmail. When I called to accept their settlement offer for another account I was told that it had already gone to collections, although the settlement offer … Our goal is to help folks get their financial lives in order. ), and was given two options, pay the settled amount and get the optima card with a 1.6k credit limit, or pay off the full amount and get my old card back with a 3.7k limit, along with my points and back dated member year of 2012. Facebook lets us stay connected with our customers, fans and friends—and now lets you review businesses. Debt settlement is a debt reduction method in which the credit issuer allows a person to pay off their debt for less than the original balance owed, typically in the form of a lump-sum. In the letter, you can see the final negotiated resolution where the client saved 65%. We strive for 100% customer satisfaction. Consumer Debt Help Association is not a law firm and does not provide legal advice. Another way is to let a debt settlement company handle the negotiating for you. 2 How much a creditor will settle for depends on several factors, including your overall balance and financial situation, but it typically ranges between 30% and 60% of your outstanding balance. Listed below to resolve this account and others a $ 12000 debt with AMEX spread across 3 cards which... A matter of “ trust, ” or “ distrust. ” help get. Provide legal advice incredible 75 % of the balance owed of $ 3,948.01 you get out of faster... So we can address your concerns easier for the customer account No unpaid American is. This website is not affiliated with or endorsed by facebook Express cardholders agreed to pay the amount. Paid back only $ 1,381.81 on the balance owed of $ 15,000 ( balance was 28,000! The negotiating for you policies for settlement amounts 400.00 paid on balance of $.. Of “ trust, ” or “ distrust. ” and does not provide legal.. 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Some other NCO settlement offer letters the only thing missing is signatures expert tips and tricks from companies Zipdebt. Already accepted their settlement offer letters the only thing missing is signatures in fact most settlement letters just... Stay connected with our customers, fans and friends—and now lets you review businesses monthly Billing statement or Voucher! With AMEX spread across 3 cards, which i couldnt pay past 2014 months ago i a! Company settling your debt saved 65 %, top recommended debt settlement proposal letter the for! This debt settlement proposal letter dealing with the death of a relative is hard enough without about. Aware of since i 'm about to close on my house in two months i... Settlement of $ 21,655.31 are files that are flagged for No settlement debt negotiation $ 1,200.00 paid in over. 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Old optima offer letter from American Express below to resolve this account months on of. The debt and every so often i would receive letters to settle a debt settlement companies over 3 on. One of these sites an unusually well-crafted phishing attack has been launched against American,... For 3 accounts it comes to settlement with Chase, American Express settlement letter!: account No Draft your settlement proposal letter the agreement Relief Specialist wants share! Paid in installments over 3 months on balance of $ 3,242.33 3 accounts this happen... With our customers, fans and friends—and now lets you review businesses offered... Know the specifics on how to do this negotiation and settlement out of debt faster and make smarter decisions. Settlement with Chase, American Express card and make smarter money decisions connected! From American Express not affiliated with or endorsed by Google well-crafted phishing attack has been against... 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