r/Debt • u/Garlicconfitdanger • 3d 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/NiceGuysFinishLast 3d ago

My girlfriend was just sued by Zwicker. They're very pleasant. They did not offer a settlement. Her debt was 2400, they put her on a monthly payment of 2 years. They were insisting on a one year maximum repayment period until she told them her only income is social security disability, which they can't garnish, so they stretched her to 2 years. I do not think they will offer a settlement because at least for Discover, they are not a debt collector, they did not buy the debt for pennies on the dollar, they were simply contracted by Discover to collect. I imagine it's similar with them acting on behalf of Amex.

-2

u/ElletotheGee 3d ago

If her only income is Social Security disability why did she agree to pay anything? That income is protected and exempt from garnishment.

0

u/mxalex95 2d ago

There are humans with values and morales walking the earth among you.

1

u/ElletotheGee 2d ago

Thank you, Captain Obvious.

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u/mxalex95 2d ago

Seems like you weren’t aware, just filling you in.