I have 3 credit cards which two of them already reported to CRA my account as R9 ( Charged off ). I was told by so many people that credit card companies after 180 - or 210 days after first delinquency they charge off the account. And turn the account usually to collection firms. I have contacted at least 10 debt settlement firms and they all are sounds not very effective.

Some of them are asking to wait longer and then start the negotiation because the older the debt gets the more it depreciates. I have AMEX which they charged off the account but still are charging late fees, over limit fee, finance charges ( Over $327 a month ).

1- Can any one tell me that can they do charge all those fees even they charged off the account.

2- Do we really need a settlement company to do the leg work for us.

The collectors do not bother me at all. They do not scare me at all. Just ignore them which I have been doing it.

3- Any one experience with AMEX. are they nasty.

I have contacted major court houses and usually there are three which files law suits. MBNA, CITI, Discover ( for debts over $ 2,500.00 )

I also did go to a usually which is very help full ( The best )
Usually.com this guy is great and very very help full.

I appreciate any feedback on this questions I have.

t. Jay

Some of your terms, is this in the US< Canada, Mexico, Iraq??


In the US, they may contine to add chages and interest and all sorts of fees including legal fees and court feels until you pay the debt.

Some companies work better with some debt firms, some credit card companies will not work with anyone.

Amex will sue you for unpaid bills, they seem to get around notifying you from everyone I have heard from but of course they are suppose to notify you when they sue you. They will get a judgement, they will garnish your pay check and/or attach your checking and savings accounts.

AMEX will normally do it sooner than they others, they basically own the legal and collect firm that does their collections.

Also if you try and file bankruptcy, the AMEX will have attorneys file every motion known to man to make it harder for you. This was from a very close friend where I was doing his bankruptcy paperwork a few years ago.
I swear they filed motions that did not even apply, just to cause you to go to hearing after hearing, I think they hoped you missed one and they may get a dismisal or something.

And many of the credit card companies sell their debts instead of suing personally, but then the people who buy the debts will sue.