increasecreditscore76 Posted October 21, 2008 Report Share Posted October 21, 2008 I have one delinquent account on my file that I would like to get taken off. I'm not sure if anyone can help, but advice would be much appreciated. I opened an line of credit with AE in 2003. i was ignorant and could not pay the total off so I negotiated a pay less than full. I thought that I could settle with them and it would not show up on my report. Well, it did show up and now the report states that the item will be removed in 2011. What can I say or do when I call American Express to discuss the record? Are there any tips/strategies that can help? My feeling is that I was aware that if I worked with them to help negotiate 50-75% of the total balance that would be fine and would not be on my report. Also, it says that my balance is zero on my report. Can I do anything? Please help. Thx Link to comment Share on other sites More sharing options...
cap1kid Posted October 21, 2008 Report Share Posted October 21, 2008 I've got the same thing on my reports with Target- a lousy 200 credit card that I settled for a lower amount- showed up as derogatory on all 3 reporting agencies- I disputed with all 3- one came of completely- one updated and shows no derog- one remained the same- I don't know where to go from there either. Link to comment Share on other sites More sharing options...
CleverCynic Posted October 21, 2008 Report Share Posted October 21, 2008 Since you settled, you don't have risk of being sued, so all tactics are on the table for you. Usually you start with disputing the records with EQ, EX, and TU. Online is quick and fine for the first time. See what sticks, if they don't respond to the dispute within 30 days it gets removed. Also search for the 1-2 punch. It's basically a dispute along with a letter to the creditor asking for validation of the debt. Since they've gotten everything they're ever going to get, you don't have any negotiating power with them to remove it for money or kindness. You'll have to use some of the more clever tactics. You can also search "AMEX Good Will" to see if anyone has had any luck sending them a sappy sweet letter to remove it, but normally that only works for late pays on open accounts. Link to comment Share on other sites More sharing options...
isislc Posted October 22, 2008 Report Share Posted October 22, 2008 Just one more thing to add to Clever's comment. Now because you settled for a smaller amount than what was owed, they can now sell it off to a CA/JDB that can try to come after you for the balance. Unless you have gotten something in writing saying that they will not turn the balance over to a CA, you're going to be getting a collection letter at some point. Link to comment Share on other sites More sharing options...
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