scottb99 Posted December 2, 2007 Report Share Posted December 2, 2007 I'm down to 3 charge-offs and 1 collection, yes that's right, down to. I am about to be rid of the last collection I think, its in litigation right now. One of my charge-offs that is still remaining is AMEX with about a $5800 balance. I am in a position to pay this off probably in 2 or 3 payments. For those that know about Oasis, how does it work? Can I pay in a couple of payments or do they require payment all at once? I have read some posts about getting your original app date on the new TL, is this true? What happens with the old TL, does it show as a paid CO or does it change status? From my reading, I understand that they have to offer the program to you, but I imagine if I called them saying I was ready to make arrangements to pay this past SOL debt they would probably be willing to offer the program, am I right in this assumption? Link to comment Share on other sites More sharing options...
lqqkin4areason Posted December 2, 2007 Report Share Posted December 2, 2007 WOW Congrats xdancexxdancexxdancexxdancexI don't have any info on Oasis though sorry Link to comment Share on other sites More sharing options...
VeVe Posted December 2, 2007 Report Share Posted December 2, 2007 I go the oasis stuff in the mail. Mine is only $1900 according to them, but that sounds high to me. I have to call them again tomorrow to ask for statements, and I'm also going to see if they require the money in one payment or they'll take it in 2 or 3. I"ll let you know what they say. Link to comment Share on other sites More sharing options...
brokeinok Posted December 2, 2007 Report Share Posted December 2, 2007 Please keep us updated on what you find out! I also have an AMEX and I would love to get on the OASIS thing but I couldn't manage a full payment. If they'd break it up, then away I'd go! YEAH!!! I hope they say "sure no prob" Link to comment Share on other sites More sharing options...
VeVe Posted December 2, 2007 Report Share Posted December 2, 2007 Here's my suggestion for you.Start saving the money now, and then when you have it, contact them. Amex was a sleeper account for me, and all of a sudden a couple months ago I had a message from them to call about the account. I haven't heard from them in many years, and was just going to let it fall off my CR next year.When I called, I told the guy I have no problem paying it if it's something I do owe, and then I asked if it was possible to reopen the account. That's when he told me they have a "program" available and he would send me the info in the mail. I also asked him for documentation regarding the balance, but I didn't receive that. The letter I received says "Regain Cardmembership- Variable APR Optima Card" at he top, then the body says "As a previous American Express Cardmember, we value our relationship. As such we would like to offer you the opportunity to regain Cardmembership and potentially improve your standing with American Express. You have been selected for a special offer to recieve and Optima Card application from American Express if you pay your past0due American Express account balances in full. Your application for a new Optima Card will be approved unless you have filed for bankruptcy, do not make the payment required, or have an existing open American Express Credit or Charge Card relationship."Then it has more about it being a limited time offer, I have to call, etc. The rep on the phone said that there is no credit check involved. Link to comment Share on other sites More sharing options...
scottb99 Posted December 9, 2007 Author Report Share Posted December 9, 2007 Good info thanks. I will be giving them a call tomorrow to try and do the same thing. I could pay them all at once, but if I can stretch it over a couple of payments would be excellent. Link to comment Share on other sites More sharing options...
scottb99 Posted December 11, 2007 Author Report Share Posted December 11, 2007 Called them, the lady I spoke to said they no longer have the account at their office. Unfortunately they were having some technical difficulties so she could not tell me where it has gone to. There are no collection accounts listed on my report for this, nor have I ever been contacted by a collection agency about this account. She said she will call me back when she gets more info. She said they had it in their office until 10/07 which would be exactly when the SOL ran out. Let's see if I hear back from her. Link to comment Share on other sites More sharing options...
indykpc Posted December 13, 2007 Report Share Posted December 13, 2007 i was wondering about something like this ... they made me an offer of $340 69% of my debt (with all kinda of crazy fees im sure)i am willing to pay the extra 20 percent if they reinstate my accnt. so i can get a real card sooner (my credit is super trashed but no BK's ) how do i do it so they have to honor their word and really do reinstate my account.. and your saying that the TL will reflect the orginal date of opening my first amex accnt? that would be GREAT! Link to comment Share on other sites More sharing options...
VeVe Posted December 13, 2007 Report Share Posted December 13, 2007 i was wondering about something like this ... they made me an offer of $340 69% of my debt (with all kinda of crazy fees im sure)i am willing to pay the extra 20 percent if they reinstate my accnt. so i can get a real card sooner (my credit is super trashed but no BK's ) how do i do it so they have to honor their word and really do reinstate my account.. and your saying that the TL will reflect the orginal date of opening my first amex accnt? that would be GREAT!You will have to see if they will offer you the oasis program. If you're out of SOL, call and ask them. If you really intend on paying them, tell them that and ask if there's a possibility to reinstate the account. If you're eligible, they will probably tell you there is a "program" available. If you settle for less than the full balance, they won't reinstate your account. It's one or the other. Link to comment Share on other sites More sharing options...
texastea Posted December 13, 2007 Report Share Posted December 13, 2007 This happened for us in two stages.First we got a letter titled "Settlement Offer" for 49% of outstanding balance but says if we pay in full (by calling them by a certain date noted in letter) we may be eligible to regain membership. We called (and we wrote down the name of the AMEX rep we spoke to in case we needed it later) and they sent us a follow up letter called "Regain Cardmembership" stating all the terms we had discussed on the phone. We paid it by check and got a card 4-5 weeks later. After 6 mos. of good activity, we called to request an increase in credit limit. They said the only way they could do this is by issuing a separate AMEX card w/another $1500. So now we have two. Don't know if this helps but I figured it couldn't hurt. Link to comment Share on other sites More sharing options...
indykpc Posted December 13, 2007 Report Share Posted December 13, 2007 thanks tex tea... i got that pretty close to same letter - but they werent going to give me as good as a settle deal - before when i got a student loan and wanted to get current some cc's like two years ago - i was told this by other CC's...BOA for sure - another one i cant remember which - but i did and they didnt honor their word -so good to hear the positive report ill go for that deal esp if u say they gave you another card in six months... just curious around what was ur score when they gave you the next card... and does anyone know which report amex pulls so i can focus on that report.. since this appears to be my easiest stepping stone Link to comment Share on other sites More sharing options...
indykpc Posted December 13, 2007 Report Share Posted December 13, 2007 hmm. so i called amex (i know) and asked them to send me "information" after they aggreed i was going to specify information meant written guarentee of reinstatment... concerning this oasis program... they told me i wasnt eligible not becuase bk or anything - but simply because my debt - "only" 490ish wast considered serious enough.. they told me to pay it in full and then i "should" be eligible for the green card after i pay it off.. i told them i heard that before, they said as long as i dont have any bks and dont owe amex any money - if i ve had a amex before that is paid in full - theres no reason i shouldnt get the green card no matter how bad my score is.. what do you think... id still feel better if they guarenteed it.. should i take the $500 put it in a cd, do the secured thing... my scores are myfico ex 549... CreditCheck® Total 570... my goal is to be able to get a car loan this spring.. Link to comment Share on other sites More sharing options...
VeVe Posted December 27, 2007 Report Share Posted December 27, 2007 So I finally called them regarding the letter I got in November. They said the balance could be paid in payments, but they suggest at least one every 30 days to ensure the account doesn't leave their office. The new card is a guarantee once the old balance is paid in full. My CL will be $900 and my EXISTING info on my credit report will be updated to "paid as agreed" and there is no credit check for the new card. It's truly a win, win, win, win situation. For whoever it was who called and was told their account wasn't in their office: wait and try back later. Apparently mine left and went back to them several times, though I was never contacted by anyone about it. It's been bouncing around various offices since 2002. There's still hope for you !! Link to comment Share on other sites More sharing options...
scottb99 Posted December 28, 2007 Author Report Share Posted December 28, 2007 Last week they called me back and told me they have the account back in their office. I paid the balance and they are sending me the optima card with $2500 CL. If anyone can afford to do this, I recommend this highly. Link to comment Share on other sites More sharing options...
credit215 Posted May 11, 2008 Report Share Posted May 11, 2008 Once you accept their offer for the Optima Card, can you then send them a letter asking them to delete the old Amex account? Link to comment Share on other sites More sharing options...
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