AboutChristine Janklow Expertise As President of SettleSource,Inc. a business debt settlement firm, I invite you to inquire about all aspects of business debt solutions to best determine which may be most appropriate. If you have questions such as: What is debt settlement and how process provide debt relief to my business? What options are available to deal with my business debts? Is it possible for a business owner to negotiate their own settlements? Why is debt settlement preferable to filing a bankruptcy or debt consolidation? Why are creditors willing to provide settlements to a business? How will settling debts affect credit scores? or How to rebuild a business after debt is eliminated. Please ask it now! For more information regarding how debt settlement can help your business, please visit www.SettleSource.com and place your inquiry. Mention All Experts to have a confidential no cost consultation with Christine. If this is your business situation time may play a very important factor in getting matters resolved proactively before they have negative affects on the business.
Experience My expertise is specific to providing business solutions that will have profound positive impacts on the financial health of businesses. I have 25 years experience as an entrepreneur and have developed national sales programs; strategic alliances; product development; marketing programs; business and turnaround plans and debt settlement programs all providing methods to improve the financial outlook for large and small businesses.
Organizations Turnaround Management Association; Los Angeles area
Publications Los Angeles Daily News; Today Magazine Monthly series of business articles entitled "Brand News."
Education/Credentials Bachelor of Business Administration; Associate of Arts Merchandising
Past/Present Clients American Airlines, American Express, Safeway Inc., New York Life, consumer products manufacturers; retailers and service providers.
Question QUESTION: My husband has a dba small business. A year 1/2 ago we took a $10,000 loss which left us unable to pay a substantial portion to American Express. Long story short they wouldn't take more than almost full and we had the GOLD CARD with the revolving option and haven't made a payment since Jan 2007 and now have been getting calls since March from Collection agencies. I fear they will be suing soon. But we cannot afford or come up with the $20,000 they want to settle. We are in Texas. Called some of those credit companies that say they help settle debts and they say AMEX won't work with us. . How can we get them to start accepting a smaller payment sot hat we can pay them back without having to declare bankruptcy?
ANSWER: Dear BP:
Thank you for your inquiry. Since your accounts seem to be in collections, it is likely unless already placed in a legal queue that they can still be negotiated (settled). As I don't know anything about your financial situation, I recommend you have an evaluation done at no charge to you by a company like Debt and Credit Advisors www.debtandcreditadvisors.com or call them at 800-940-3222. They can asses your needs and ability to repay the debt and make a sound recommendation of what path would be best to resolve this issue. By the way, Amex and most of their assigned collection agencies will settle with a reputable settlement company that has long standing relationships. I hope this helps and if you found the advice useful please take a moment to rate it so others may benefit as well.
Respectfully,
Christine Janklow
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QUESTION: Thank you. When going into court and we are willing to try to pay off the debt does the court usually allow you to set up payment? I will consider contacting debt and credit advisors to see if they can help us. The other places said that they could help us with all the others (by charging us $40 a month and not saving us but $13 in payments per month) but not with Amex.
Answer BP:
Again, per my experience American Express and their usual list of collectors will settle debts. The problem you are likely having in getting a work out directly is that you have lost a great deal of credibility by not paying them for a year or contacting them to work something out sooner. Since I have little information on your situation, I would prefer you speak to Debt and Credit Advisors for alternative resources, or if (based on your follow up question)the file has gone to legal, than obviously contact an attorney in your area for assistance.
Thank you,
Christine Janklow
