Re: RMA plus Amex Litigation advice?
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Posted by Debt Diggler
(192.138.150.250) on April 22, 2004 at 14:38:33:
In Reply to: RMA plus Amex Litigation advice? posted by LittleWays on April 22, 2004 at 13:47:18:
My experience was to send the CA (First Revenue Assurance) a full C & D, and Amex took the account back and I've never heard of them since. The account is now past SOL. I'm not recommending this approach for you though because the debt was not recently charged off like yours. You don't need to pay RMA though; you never need to pay the collector in my opinion. See Bud Hibb's website as to why (http://www.budhibbs.com/). Are you sure it's been charged off? Amex will only be willing to settle if it thinks it won't get the full amount, and they typically won't work with payment plans unless it's fully paid off in 6-12 months. It doesn't sound like you can pay them off in less than a year though. My general experience is that Amex can be difficult and inflexible. However, I was on a consumer credit counseling program several years ago, and was able to pay my charged-off Amex accts as part of my payment plan. Amex has special collection agencies they use when they work with CCCS. What's ironic is that if you talk to Amex's collection dept, they'll specifically say that they won't work with them (because it's a charge card, not a credit card). So, go figure. If they sue, it's going to take some time, a few months at least. So, I would chill out for right now. There'll be others along who can answer some of your legal questions.
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