Hey All,
Hard times back around the end of 2019, ended up with $37k in Amex balances unpaid. Personal: Amex Plat, Amex Hilton, Amex Delta Business: Amex Blue Cash for Biz. They filed lawsuit in mid-2021and I got served papers multiple times (one for each card). I also defaulted on a few other non-Amex accounts at that time, but got into a payment arrangement with Discover out of all of them. Here's the steps on how I went from that to reinstated Amex Platinum, hope it helps some of you:
- I called their Global Legal / Collections in November 2021 and told them I wanted to settle. Non-US agents
- First rep was a jerk. They told me the account was ineligible for settlement, but they would gladly accept my payment in full (**bleep**)
- I called back the next day or so, spoke to someone who wanted to help me resolve. I told them that I want to figure out how to pay them in full, but I would want my card reopened. They said pay first, then we'll see. I told them NO and ended the call
- They called me the next day, same guy, and told me he looked into my account with this supervisor and I would be eligible to reinstate the Platinum card (only) on their Apollo Program if I pay off the entire balance within 12 months without any bounced ACH. They told me there would be a hard limit of $3,000 then it would go through normal periodic review to lift the hard limit eventually or never, no guarantees. Also would get about 87k MR points reinstated.
- Then we start talking terms, long call about 2 hours. We agreed to $2,500/mo for 12 months, with starting payment of about $7,600 accross all cards. No interest, but $537 in legal fees.
- They sent the agreement to their legal and sent it to me next day to sign. I signed and returned along with ACH authorization for the initial and monthly payments.
- Made all of the auto ACH payments and never bounced any. Was tough at times! Incidentally I could see the payments post from my online portal login that I always had (cards all showed cancelled). It was posted in Activity section as "Agency Remittance"
- I called reinstatement line about 10 days after my final payment (approx 5th of Dec 2022) and asked about reinstatement. They told me I would get a call , and I requested that the guy process it right now since I'm on the phone. He was cool and did it, and told me that it is submitted for compliance/review and I would get a call on the status within 2-3 business days. I didn't get a call or missed it somehow.
- I called back on 9th of Dec to the same number, different guy. After identifying info was provided, he verified that the processing was complete and he just needed to verify some income and job info. He did that, and informed me that my hard limit was $4,700.
- I am waiting for the card he said 7-10 days, but now see the new account online in my portal. 14 days to get points reinstated and get all of the Priority Pass etc. They would charge the AF within 30 days of me activating the card.
The reinstatement number I called was 1-800-700-7619 and told them I was transferred there by customer service.
Hope this helps those of you who are trying to resolve Amex old balance issues.
EDIT: It shows NPSL in the available credit line under the balance, instead of the $4,700 hard limit that they mentioned. I've had a hard limit before and I know it shows under the balance. Still don't have card yet and therefore not activated. Maybe I get lucky or maybe they update it when I activate?
EDIT 2: I got the card, and it updated to the $4,700 hard spending limit online!
