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American Express Debt & Not Defaulting

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  • American Express Debt & Not Defaulting

    Good morning all,

    New here!, After much deliberation over asking for some advice I've finally worked up the courage to ask!

    I've 3 old debts with Amex, one for 700 which has defaulted, and two others for about 2300 which haven't defaulted.

    Last payment on all accounts was in June 2019, and I wanted to know how long Amex can hold out until they default the two other accounts?

    Of course, I want to pay them but they haven't been in touch to ask for payment since 2019. But I know if they keep recording it as a late payment and don't default them then they will never 'drop off' my credit report.

    Has anyone heard of this before? Thank you all so much in advance - it really is stressing me out!.
    Tags: None

  • #2
    Originally posted by JJ_89 View Post
    . But I know if they keep recording it as a late payment and don't default them then they will never 'drop off' my credit report.

    Has anyone heard of this before?
    This is the part I'm particularly interested in. I've tried asking on here before, but not had a response unfortunately. I have had a demand for excess mileage from a solicitor that was made in 2019/20 approximately, however they had "backdated" missed payments to September 2017, which in itself is over 1yr after I VT'd my car (June 2016).

    What this has resulted in, is 6 years of missed payments, predating the solicitor's involvement. I contacted the CRA (Experian), just asking if an account with 6 years of missed payments should just drop off the credit report anyway, but, rather than just answering the question, they've raised a dispute, which I didn't really want them to do at this point (I was just trying to establish facts). They've put a marker on the account saying "this is being disputed" (paraphrased), and it seems they have 28 days in which to investigate it.

    At the very least, I would imagine that each 6 year old missed payment would drop off? Not that's any help to someone with 6 years of missed payments, as when one payment drops off, they report another one at the other end.

    I don't know how it could be justified or ethical to behave in that way from a financial conduct point of view, as it is a deliberate and coercive act designed to create sustained and indefinite damage to someone's credit score.

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