In Collections with AMEX Business CC

duke731 · 12-19-2007, 05:20 PM

Hi,

I'm hoping someone can offer some needed advice?

AMEX has sent me to collections for a Business CC. A rep from the CA, United Recovery Sys in Texas, has been calling. He basically said that I was a good customer and that AMEX wants to re-issue me a business cc once I pay off all the old debt. Problem is, my business went through a drought. However, things look promissing for the New Year. I would like this guy to ease up until I can get an influx of cash. Unfortunately, explaining this hasn't helped. Is there something I can do to get this guy to ease up or back off with the calls?

Thanks

neil5623 · 12-19-2007, 05:49 PM

Chances are, he is lying about AmEx re-issuing a CC. I just received a letter from AmEx saying that if I pay off my old account, they will send me an application for the Optima card, and if approved, the APR will be 24%. Gee, thanks guys!

I used to have one many years ago. I sent the collector a "please do not call" letter CMRRR. Please note it is the collector's job to pester you until the bitter end otherwise, no matter what your story is.

duke731 · 12-19-2007, 06:02 PM

Thanks. Do you still have a copy of that letter? can you provide some info on what goes in the letter?

Thanks.

Enigma · 12-19-2007, 10:11 PM

Agreeing with Neil, the CA is trying to get you to pay.

What state are you in? Does your state require commercial debt collectors to be licensed/registered?

If it has gone to a CA, I seriously doubt that AMEX will reopen the account. But, call them. Explain what happened and ask them to recall it. Start making payments to them to repay the account.

What is owed (ball park) on the account?

neil5623 · 12-20-2007, 12:04 AM

Quote:

Originally Posted by duke731

Thanks. Do you still have a copy of that letter? can you provide some info on what goes in the letter?

Thanks.

If you are referring to what to send to the collector, there should be an example or three on this board somewhere, but I am not sure where that would be. Anyone?

In short, it goes something like:
"It is inconvenient for me to receive telephone calls at any time. I am able to communicate by US Mail."

DO NOT tell them to cease all communications. You set yourself up to be sued.

Enigma · 12-20-2007, 12:39 AM

Quote:

Originally Posted by neil5623

If you are referring to what to send to the collector, there should be an example or three on this board somewhere, but I am not sure where that would be. Anyone?

In short, it goes something like:
"It is inconvenient for me to receive telephone calls at any time. I am able to communicate by US Mail."

DO NOT tell them to cease all communications. You set yourself up to be sued.

This is a commercial debt. Unless there is some state prohibition, the CA does not have to abide by it.

On the other hand, it may be considered harassment depending in the frequency of the calls.

centex · 12-20-2007, 06:59 AM

It is my understanding that there is a business program offered by AMEX akin to the consumer OASIS. Once a debt is paid to them, a new account will be opened. While not necessary to repay AMEX in order to get another card on the AMEX network, it IS the only viable way to get another card issued by AMEX Centurion.

Remember also that AMEX tends not to sell their paper. They also like to sue. When they sue, it is generally pretty quick...I've seen friends that got sued before the account was even to a charge-off status.

jlynn · 12-20-2007, 07:07 AM

Quote:

Originally Posted by centex

While not necessary to repay AMEX in order to get another card on the AMEX network,

Are you referring to the business network? I am positive the consumer side has the memory of an elephant.

centex · 12-20-2007, 10:04 AM

Quote:

Originally Posted by jlynn

Are you referring to the business network? I am positive the consumer side has the memory of an elephant.

Remember that the AMEX network includes the cards issued by BofA, HSBC, Citi, USAA and whoever else is issuing AMEX-branded cards. Being on the AMEX Centurion shitlist does not preclude issuance by one of the other banks...

duke731 · 12-21-2007, 01:08 PM

Thanks for the feedback. I live in NY and the business cc debt is around 25k. I know Enigma posted, "This is a commercial debt. Unless there is some state prohibition, the CA does not have to abide by it." , I still think it's worth a try. The worst that could happen is that they continue to call until my payments commence, which will be soon.

As far as the frequency of the calls, they're about 4-5x per day.

Thanks.

Enigma · 12-21-2007, 02:27 PM

Quote:

Originally Posted by duke731

Thanks for the feedback. I live in NY and the business cc debt is around 25k. I know Enigma posted, "This is a commercial debt. Unless there is some state prohibition, the CA does not have to abide by it." , I still think it's worth a try. The worst that could happen is that they continue to call until my payments commence, which will be soon.

As far as the frequency of the calls, they're about 4-5x per day.

Thanks.

Actually, being sued would not be as pleasant. Especially if there is a personal guarantee.

duke731 · 12-24-2007, 12:42 PM

Quote:

Originally Posted by Enigma

Actually, being sued would not be as pleasant. Especially if there is a personal guarantee.

Yeah , I know getting sued would not be pleasant, at all. And there is a personal guarantee. Anyone know typicall how quick they can sue? Again, I'm trying to buy some time until I can commemce payments. Also, anyone know of a letter I can send to get them to cease calling? I recently received a call from the rep's Supervisor at the CA. Also, I think I remember where someone mentioned something about having the CA send me proof of my signature on the application? Does that apply to commecial credit and can that buy me time until I get an infussion of cash?

Thanks.

jlynn · 12-24-2007, 12:53 PM

Quote:

Originally Posted by duke731

Yeah , I know getting sued would not be pleasant, at all. And there is a personal guarantee. Anyone know typicall how quick they can sue?

The reality is, they can sue you tomorrow.

Quote:

Again, I'm trying to buy some time until I can commemce payments.

What kind of time frame are we talking?

Quote:

Also, anyone know of a letter I can send to get them to cease calling?

As much of an annoyance as the calls are, and not being familiar with commercial debts, a cease calling letter my just get you sued tomorrow.

Quote:

I think I remember where someone mentioned something about having the CA send me proof of my signature on the application? Does that apply to commecial credit and can that buy me time until I get an infussion of cash?

Thanks.

That again is probably up to any statutes pertaining to commercial debts.

duke731 · 12-24-2007, 01:03 PM

The time frame is about 30-45 days. If they were to sue tomorrow, which won't happen since it's Christmas, what's the process? I've never been sued and working hard so it does not happen.

Thanks,
PS. This seems like something, if I can't get it within reason, that may require me consulting with an atty.

jlynn · 12-24-2007, 01:16 PM

Quote:

Originally Posted by duke731

The time frame is about 30-45 days. If they were to sue tomorrow, which won't happen since it's Christmas, what's the process? I've never been sued and working hard so it does not happen.

OK, tomorrow was just to let you know they could sue you at any moment. The process, so to speak, assuming they have a current address for you is to serve you with a summons. $25K debt + attorneys fees+ costs + whatever else they can add will mean you are in a "big boy" court. No small claims for that kind of money. Once you are served, all bets are off on trying to work out a repayment plan. It will depend on how aggressive they care to be.

Quote:

PS. This seems like something, if I can't get it within reason, that may require me consulting with an atty.

Could be.

duke731 · 12-24-2007, 01:47 PM

Quote:

Originally Posted by jlynn

OK, tomorrow was just to let you know they could sue you at any moment. The process, so to speak, assuming they have a current address for you is to serve you with a summons. $25K debt + attorneys fees+ costs + whatever else they can add will mean you are in a "big boy" court. No small claims for that kind of money. Once you are served, all bets are off on trying to work out a repayment plan. It will depend on how aggressive they care to be.

Could be.

Interesting. jlynn, thanks for the information. At least I have an idea of what my options are and how long/quick their process can take. Also, are they subject to any laws regarding their frequency in calling? I'm getting up to 7 calls per day.