Pulling the Trigger AMEX

[saytar]

Well, got the letter from AMEX. Account closed your FICO too low now.

Been a customer for 30yrs, account always paid 99% of the time on time for full amount. Had it through 2 bankruptcies (both due to divorces) never a complaint from them.

Yes late on many cards, probably can't clear all of them up, but their card (the one I had) was not a revolving card. Balance always due the first, no provision for payments, didn't want that type card from them.

This what the Card Companies and banks think of us...we are mere numbers (acct #) and a turnip to squeeze for their profits, and have worth other than how much money in trumped up charges and fees they can extort from us.

This is the result of Congress and our duly elected officials letting the Banks and Card industries write the Credit Card Rules. Guess they had too, since the Cards and Banks line their pockets with the extra income they really need. Gee you know it's tough to have to live on a guareunted lifetime income, free medical insurance. Gotta have the graft money to make ends meet.

OK my rant's over...........now its time to get back to preparing to fight the other vulture's when they begin their circling overhead. Gotta get the ammunition ready and my Legal sites tuned up. Don't want to shoot and miss.

From here on out, let'um make their grossly over paid fee's from somebody else. I refuse to play anymore, I'll take my toys to another sandbox and play.

OK, OK I promise this time my Rant's over (almost)

[howucan2]

Your going to go through Collection agencies such as Nationwide Credit Inc, etc. then NCO will start sending offers (make sure to save all letters with their envelopes)

Then most likely Zwicker and Associates if they can collect in your state otherwise some local law firm.

I can tell you if the amount is low go the arbitration route with JAMS, BUT after collecting enough violations to offset the amount.

For now, be patient and keep disputing with everyone, request validation and then re-dispute again until cows come home ! Save voice mails , take picture of caller ID of cell phone if they are calling a number without consent.

AMEX will call family and friends so put them on alert. I caught Zwicker's voice mail messages on my parents home phone a place which I had not resided for decades.

From experience If amount is low AMEX will not follow in arbitration (unless you have stable income or assets )

I had 10x more violations than the alleged amount, so I wasn't in any shape or form intimidated by the Amex if it would've followed me in arbitration.

[saytar]

Whats so funny is that I have never had over a 3-4 hundred balance on the card and it has always been paid.

The amount on it the day they cancelled it was 100<. Haven't decided if I am going to pay it or not. Why should I? Only reason to pay it would be to eliminate and additional collection account.

[WhoCares1000]

I would just pay the amount and be done with them. The way their collections department treats people who have not paid their bill is horrible. There are people that still talk about it 20+ years after dealing with them.

Pay it, get them out of your life forever, and never do business with them again and tell everyone you know not to do business with them. Make them regret their action by making it harder for them to get new customers or retain current ones that they want to retain.

[saytar]

Plan on it. Just Chap's my a****. My biggest problems will be GE Bank, Citi and FIA eventually. That's enough on my plate.

If I had any doubt about fighting it's gone now.

[ArtVandelay]

You are really one of the last to the party on this one. I know of many successful small business people, which had perfect credit, that had their credit lines zapped in 2008-2009. Some had credit lines, which were basically like credit cards, closed after 10-20 years of perfect payments. These were people who had perfect credit and had never missed a payment. Their credit lines were closed and the only reason given was "market conditions." This happened to individuals and many small businesses on all levels.

As for your problem it pains me that you should probably go ahead and pay them. It would not hurt them in the least if you didn't pay, but it would be just another headache for you the future.

Good Luck!

AV

Edited November 2, 2012 by ArtVandelay