American Express Getting Midevil on me ;(

Guys,

I posted this situation a few months ago and now Amex is getting really nasty saying they are going to sue me for fraud etc. I have an 11,000 dollar balance that I am trying to get them to work out some form of payment plan on (it is a charge card not credit) as my consignment shop has really gone to the birds. They want 2,000 a month minimum and I have 380 bucks in my acct. Every month they are charging me late fees and 3% fee for non payment. I have exhausted trying to get loan from family, friends, banks, American General, other CC's etc. What is my option? Bankruptcy? HELP!

[diebitter]

You need to ask to do video challenges for cash.

Oh, scratch that, it's been done.

[MelK]

You missed the deadline for easy bankruptcy a few weeks back.

So you are now screwed.

[Popinjay]

M E D I E V A L

[tonypaladino]

Get drunk, call them.

[JonPKibble]

[ QUOTE ]


Guys,

I posted this situation a few months ago and now Amex is getting really nasty saying they are going to sue me for fraud etc. I have an 11,000 dollar balance that I am trying to get them to work out some form of payment plan on (it is a charge card not credit) as my consignment shop has really gone to the birds. They want 2,000 a month minimum and I have 380 bucks in my acct. Every month they are charging me late fees and 3% fee for non payment. I have exhausted trying to get loan from family, friends, banks, American General, other CC's etc. What is my option? Bankruptcy? HELP!

[/ QUOTE ]

I see this is your first post. Welcome to 2+2.

[RacersEdge]

Try talking to a credit counselor. AE should be willing to be somewhat flexible - getting some money is better than getting nothing. Maybe tell them you are going to decalre bankruptcy if they don't back off.

[xadrez]

Get drunk, call them

(sorry i couldnt resist)

[astroglide]

once it goes to collection you'll be able to negotiate the price down to like 50% of the original bill, but it will be bad for your credit

[bwana devil]

my advice would be to talk to someone who knows what theyre talking about. lawyer, etc...

but short of that, tell them you cant pay all of it and negotiate to see what they will accept. get it IN WRITING the amount they will accept before you start making any more payments. then make each payment every month and dont miss another one.

www.clarkhoward.com has some info on the matter im sure.

EDIT try to prevent it from going to collections if possible. that's not a good strategy.