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Amex Consent Order.....Hmmm, seems that they ignored me and a few others.


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Does anybody have any thoughts on this?  This is exactly what I've been requesting in writing from their attorneys

for the past 2.5 years!!!  They have no agreement, no signed contract, and only a smattering of statements after

2 years of litigation.

 

 

 

6. The Bank shall maintain accurate and complete information on each consumer debt that the Bank collects or

attempts to collect. Such information shall include at a minimum:

 

 

(a) consumer agreements and any subsequent amendments and

 


(B) documentation evidencing the debt and each transaction or activity on the debt.

 

 

The Bank shall make such information and/or documentation available upon request to a consumer inquiring

about his/her debt. For debts incurred prior to the Effective Date, the Bank may collect or attempt to collect such

debts if the Bank has evidence to verify the debt, but must immediately cease such collection efforts if the consumer

disputes the debt and the Bank is unable to provide the documentation in subparagraphs 6(a) and (B) above.

 

 

7. The Bank shall provide a copy of the Joint Consent Order to any person to whom the Bank sells,transfers,

or assigns any debt which would require the disclosures in paragraph 3 and/or be subject to the provisions of

paragraph 6 and shall require in all contracts to sell, transfer,or assign such debt a provision that contains a clear

and prominent notification to the buyer, transferee, or assignee that the Bank is expressly requiring that the disclosures

in paragraph 3 be given by any person collecting such debt and requiring that the provisions of paragraph 6 apply to the

debt.

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Consent order is dated October 1, 2012.  But, it seems that any debts prior to the effective date cannot be collected if

the customer has denied the debt and Amex cannot provide the original agreement, all addendums and all itemized statements.

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I believe the section which included the paragraph you cited has to do with debts that are outside the SOL.  Here's paragraph 3:

 

3.  The Bank shall continue to provide disclosures concerning the expiration of the Bank's litigation rights when collecting debt that is barred by the applicable state statutes of limitations and shall take all action necessary to ensure thee revision of any and all solicitations and any other oral, written or electronic communications used in connection with the collection of consumer debts to remove all deceptive statements and to disclose clearly and prominently:

(a)  All material conditions, benefits and restrictions concerning any offer of settlement; and,

(
b)  When collecting on Unreported Debt, the following language:

The law limits how long a debt can be reported to a consumer reporting agency.  Because of the age of your debt, we cannot report it to a consumer reporting agency.  Payment or non-payment of this debt will not affect your credit score.

 

 

The above has to do with time-barred debt.  Go down to paragraph 7, and it states that AmEx has to include in a sale to a JDB that if any accounts if any accounts in the sale are time-barred, the JDB has to include the disclosures in paragraph 3 and that the provisions of paragraph 6 (that you quoted) apply to that debt.  That's why I think that entire section is about time-barred accounts.

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