InUtah 0 Posted May 31, 2016 Report Share Posted May 31, 2016 Getting calls from G.C. Services who claim to represent AmEx. They are asking for financials before negotiating a settlement of AmEx card debt. Any experiences and/or advice? Quote Link to post Share on other sites
Clydesmom 1,235 Posted May 31, 2016 Report Share Posted May 31, 2016 When did you default on the card? Quote Link to post Share on other sites
InUtah 0 Posted May 31, 2016 Author Report Share Posted May 31, 2016 Last payment was Jan 2016 Quote Link to post Share on other sites
Clydesmom 1,235 Posted June 1, 2016 Report Share Posted June 1, 2016 Many creditors will not settle until they realistically know whether or not they are not being excessively low balled by the debtor. This company has been hired to collect. AMEX is an aggressive original creditor and they will sue you. Settling may be your best option. You should consider all your options including bankruptcy if your debts are significant enough. Quote Link to post Share on other sites
InUtah 0 Posted June 1, 2016 Author Report Share Posted June 1, 2016 Is arbitration an option with Amex? Quote Link to post Share on other sites
Clydesmom 1,235 Posted June 2, 2016 Report Share Posted June 2, 2016 6 hours ago, InUtah said: Is arbitration an option with Amex? Depends on the card agreement governing the account. In general, yes it is an option. However, you should be aware AMEX has been known to follow consumers into arbitration at great expense and you will lose if they do follow through all the way. Quote Link to post Share on other sites
inegoti8 0 Posted July 28, 2016 Report Share Posted July 28, 2016 GC services will accept as low as 15% to settle. 25% is standard. Quote Link to post Share on other sites
