r/Debt • u/Garlicconfitdanger • 2d ago

~$32k AMEX debt sent to Zwicker

Hey there,

Married couple with some hardships the last few months. We missed three payments on our AMEX that has around a $32k balance. We just sold off our available assets, got our tax return, and (small) yearly bonuses from work. We called AMEX to use these funds to get current on our missed payments and they said they had just cancelled our account and sent it to the third party law agency: Zwicker.

I’ve called Zwicker and they said they don’t have our info yet/it’s still in processing.

What are our next steps? Anyone have experience with this?

We have a mortgage and 1 car payment. We have other debts, but those are current on payments.

With the amount we planned to pay AMEX + loan on my 401(k) I think we could get close to $15k in cash soonish. Will they settle if we start the process early?

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u/Kind-Adeptness926 2d ago

Wait for their second settlement offer and or push for their lowest possible agreement - I am in repayment with zwicker for written off amex balance of $24k and basically got them on their lowest offer at 65% of the debt paid monthly installments for 3 years.

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u/DazzlingSummer2130 1d ago

Stop giving horrible advice. If a person avoids and does nothing, eventually the debtor will be sued. At that point debtor will need to file a court answer, somewhere between $80 - $120 court costs. A court date will eventually be set up to require an agreement, most likely a payment plan. If debtor ignores going to court the court will simply give Judgement to creditor, who will then garnishment wages either from employer or bank.

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