I talked with Bank of America Credit card, they gave me a settlement amount, it was too much for me to pay immediately on the phone as requested. I sent them a check for the amount with a letter stating it was for the agreed amount for settlement etc.
They cashed the check but never settled the amount as verballly agreed, I did it with them on another card the same day for a lesser amount which I was able to pay over the phone at the time of their offer.
Now I have a ruined credit report that has damaged me in many ways, I cannot pay anymore to them, do I have any recourse about the settlement that I made with them without any written paper work from them. They are such liars and every time I called them I got the runaround and lies.
What can I do, sue the bank? Or how do I enforce the settlement or am I out of luck?
Without a written agreement in hand you are out of luck. The written agreement is the only thing that shows that there was a meeting of the minds and what the deal was.
Only long shot I can think of is if you find an attorney licensed in your state to sue American Express and see if American Express will produce the audio tape of the offer made to you in the discovery phase of the suit. But don’t be surprised if American Express falls back on the argument the person who said that did not have the authority to enter into an offer on behalf of American Express.
You should also get a written agreement for the second account even though you consider the account settled. Some creditors are reselling the written off debt and latter collecting on it. If you don’t have proof of the deal you’ll be on shaky ground if that happens to you. See Debt Settlements May Be Voided And the Money Due Anyway.