@amexuk Amex Settlement offer Advise Needed

[G1234]

AMEX have written to me offering full & final settlement out of the blue and unsolicited.

The offer taken from the letter :

"If you pay just 40% of your outstanding balance still owing, we'll waive the remaining £0.00 of your balance in full and final settlement. In order to accept this offer, please call Amercian Express on 0800-etc. This opportunity allows you to repay a reduced amount from which you otherwise owe us.

From Michelle Upton Manager American Express Address Amex House Brighton." They call this a 60% Balance Forgiveness.

 

In brief this concerns an Amex credit card taken out in 1995 inclu. PPI and is in dispute since 2009. They closed my account July 2009 after i tried to make a claim on the PPI. They then had many different DCA's chase me as the debt was passed around without notification . Each DCA have been dealt with via CCA letter etc following the correct time-lines none have provided the information requested hence all are in dispute. Further oddities they lost my details on a laptop believed stolen, have had Amex letters advising i contact there insurance people only to be confronted with AIC and a rude aggressive French lady who told me PPI will not pay out until i am bankrupt etc etc

Then all went went silent for many months until the settlement letter arrived this week.

I need advice on dealing with this development please help

[silverfox1961]

Hi. Sorry your post was missed.

 

If you pay just 40% of your outstanding balance still owing, we'll waive the remaining £0.00 of your balance

 

HUH! Is you pay 40% the will waive the remaining £0.00? That is confusing. If nothing is owing after a 40% reduction, how can there be any reduction in the first place.

 

Unless you can record the call, don't ring them.

 

As this account is still in dispute, (I assume you stopped paying) and no action has been taken in the courts, you have to wonder why?

 

You could offer them a silly amount in F&F and see what they come back with BUT it must be made clear that in any F&F, the remaining balance must not be passed on to any other company to chase.

 

Personally, I would ignore it.

[G1234]

Thank you Silverfox i find the offer confusing re- £0.00 balance perhaps i should write informing of the dispute and inform them they still have not answered my formal request that American Express provide me with proof, in the form of a notarised document, counter signed by the company secretary, that the my Amex account has NOT been securitized.

 

 

[G1234]

Silverfox yes i have stopped paying as they cancelled my account in 2009 when i made a request for PPI payment

i have been unable to pay them as no mechanism is open to me.

[silverfox1961]

I would wait to see what appears in the future. They don't appear to be that concerned with chasing the debt. Another couple of years and then they can go swivel anyway.

[G1234]

Thank you silverfox sounds like a plan.

[Desperate Daniella]

Hi,

 

I have only just seen your thread. This letter was sent in error because whoever was sending them out forgot to put in the individual figures and you'll get another one showing you the right figure and apologizing for their mistake.

 

They have sent out a number of these letters after being quiet for three years.

 

As silverfox says, they don't seem to be too concerned about chasing these accounts. They probably know they don't have a leg to stand on but thought they would send out their "attractive" letters in the hope that someone may pay up.

[G1234]

Thank you Desperate Daniella for your thoughts as yet i have not had another letter but will wait and see.