Any success dealing with Zwicker?

[onthebrink]

I have hired an attorney to help negotiate debt settlement with CCs. We called Amex about one of my cards today to authorize the attorney to negotiate on my behalf but were automatically referred to Zwicker & Associates.

We (my wife and I) have three cards with Amex; two in my name. Only one of these cards was, at least as of today, referred to Zwicker. We received three separate account cancellations from Amex last week. BTW, these three cards represent 40% of our total CC debt.

Amex's aggressive and quick action (we weren't even 90 days late) caught us off-guard. My attorney is going to call Zwicker tomorrow.

Has anyone had any success negotiating debt settlement with either Amex or Zwicker?

Do you think it is to our advantage to try to settle all three cards together or treat them individually?

Thank you.

[shark66]

I've settled my wife's AMEX for something like 55-60% but that was years ago, I've heard that they've gotten worse in the meantime. If I knew then...etc. I could've probably gotten away with less, but that was easily six years ago

My question would be, if you're intent on filing, why settle anything at all? You will get hit with taxes for whatever you gain in the process, which is not the case with debt discharged in bankruptcy...

My $0.02 only...

[BROKEDED]

I wasn't 90 days late either and was referred to Zwicker and Ass. They aren't licensed to practice law in my state according to the letter they sent so I waited until the last minute of the 30 days and responded with a debt validation letter and cease and desist phone calls sent next day mail.

My letter required signature and it was not excepted but strangely the same day I received a letter from Dominion Law Ass. claiming to represent the same debt amount BUT from a Bank of America creditor. They later sent me a letter confirming their mistake and I haven't responded to them yet.

Having figured that Zwicker gave the collection back to AMEX who gave it to Dominion I have been waiting for Dominion's 30 days when what do I get but the debt validation letter response back from Zwicker. I haven't spoken with either of those firms personally

Check to see if Zwicker has law offices in your state. If not, I would wait it out to see if it's handed off again. Were you not planning on filing BK?

[TeacherMomma]

I settled with AMEX a few months ago. It was referred to NCO not Zwicker though. Their first offer was for 10% of the balance - it was a little over 25K. Easy.

[2manybills]

The best is to settle with Amex. They are one of the most aggressive.

[BROKEDED]

I settled with AMEX a few months ago. It was referred to NCO not Zwicker though. Their first offer was for 10% of the balance - it was a little over 25K. Easy.

WOW! Ten percent for a first offer is low. I would've expected 50-60%.

[jwmc1]

Hiring someone to negotiate for you is a bad idea, in my humble opinion. Once you are represented by an attorney you are immediately going to be treated differently. I think you get a better deal convincing them yourself that you are circling the drain.

[BROKEDED]

...convincing them... that you are circling the drain.

LOL! I may have to take a collection call just to use that one! Thanks!