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BillyBoy last won the day on September 5 2009

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  1. I nothing but agree. This is all business and that is how I take it down also. They gave me lots of credit line when I really had no business having it, I grew my business with, with economy my sales went down 50% and I got in trouble. Now they got to wait until I am back on my feet and I will pay them back. But since the damage is already done in my credit history, I might as well play and learn and see if I can get out of this with much less $'s
  2. That was kind of where I was thinking about heading. I need to buy more time - like I already havent't ... over 12-months now ..... but I am hoping that they would perhaps consider $10K settlement (Zwicker and Amex) ..... any feedback on actual settlement sums and what they have actually settled for ? I am also searching for a mistake they did that would allow me to stop the process. For example, they are asking me to come to local Circuit Court and not using those 2 they list in the Agreement (NAF and AAA). Can I stop this process by requiring them to use one of those 2 ?
  3. What if the debt is over $40K ? What kind of arrangements can be achieved with Arbitration ?
  4. I have been following this with interest. pardon my small question between. rikkivs, you hear Amex doing 80% settlement ? Is this directly with them or through one of these collection agencies ? Anyone else here about AMEX settlements currently ?
  5. ok so I got my report and it does show Amex, no reference to "sold to another lender" or anything like that. So' I guess I'll just play the game with these losers then. Would it be smart for me to send a letter to Amex to let them know that I am only willing to communicate with them directly ? and offer settlement at 50% int he same letter ? I am still hoping to hear from someone who has settled with them directly, in the recent history ...
  6. Yes, I am in a similar situation and I just checked my cc report. Amex still owns my debt and it seems to me that they are not very eager to sell the debt but to only use these loser CA's as a scare tactic. I would be interested to learn if anyone has settled directly with Amex lately and at what % level.
  7. And my natural question to you is: How do you find out who owns my debt ? What is your recommended path for this discovery ? Can't believe CA and Amex last time I discussed said that I should talk with the CA that it has been "assigned to", I only called Amex once and perhaps this is their scare tactic. My feel is that Amex still owns the debt and they are just pushing it further to see if this will scare the hell out of me ..... Once again I will ask if anyone has lately settled with Amex, directly or through their CA ?
  8. but what if I figure out that AMEX still owns my account, I yet to find out which one really owns my account. I only have a letter that says Zwicker has been appointed by Amex to "handle my account" ....
  9. This is also my question, if I send "cease communications" letter does that immediately then allow them to just sue me, or does it only force them to communicate with me in writing. I have not even recevied official "Verification of debt" letter. In my case i am dealing with Zwicker and got 46K Amex to deal with
  10. I guess I am well within statue of limitations, it's 5 and 10 years in my state. I am planning to continue communicating with Zwicker, but maybe I should do only do this in writing and require written communications only and already set down my settlement offer ? I could also communicate the same to Amex and see what they say ??? any idea ? and if they are willng to talk directly, perhaps more than last time. Anyone negotiating with Amex these days ?
  11. How do I know if I am inside or outside past "Statute Of Limitations" ?
  12. Again thank you for this intelligent response, prettymuch what I expected. Process makes more and more sense to me thanks to you people. Absolutely love this forum, once I will get out of this situation, I will be able to hopfully help others in my crappy position (crappy as of today I mean
  13. What do you mean exactly with this one "These guys think they have you dead to rights (and if this is your account, within SOL, and they have the paperwork - then they probably do) to $40k." Also to be noted, I still have not receivet the "debt verification" letter from Zwicker, only a letter that informs that "this law firm is outside councel to American Express, our client (Amex) has requested that we contact you regarding the unpaid balance ....) also on the bottom it says that 'Pleae note that unles you dispute said debt within 30 days after your receipt of this ltter, this office shall assume the validity of this debt ... upon written notification ... this office shall obtain verification of the debt or a copy of a judgment, if any, and mail you a copy of such verification or judgment" NOWHERE in this letter it states it is "Debt verification" letter, I jhave requested it verbally and was promised that they mail it, also I will be tomorrow sending them the 'stop communications" letter and will inform Amex that I will only communicate and deal with them directly.
  14. "Why would the attorney want to settle for 1/2" because simply that is all I got and that is all they can get, other alternative is I file for bankruptcy and they collect nothing.
  15. Excellent points ! I am getting smarter and smarter with these intelligent replies. Love it ! I would also like to post this link to others who might be reading this thread, seems to be a fresh blog about Debt Collection, I don'thave any idea who this is or how good this lawyer is but this '30 days of debt collection thing" is good and easy reading http://www.familyandconsumerlaw.com/2009/02/debt-collection-issues.html
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