What Repayment Plan Should I Ask for From NCO Financial for My American Express Debt? – Steven

“Dear Steve,

I currently have 30k in debt from American Express, and it is in collection from NCO Financial for about 6 months. I make around 1100 after taxes, want to make a weekly plan. Wasnt sure what i should do when i call them and ask about terms. Should i make a long term plan to pay of the whole amount? I dont have enough money now to make a lump sum payment.

Wasn’t sure what i should do when i call them and ask about terms. Should i make a long term plan to pay of the whole 30k or should I negotiate. I am really scared and not sure what to do.


Dear Steven,

Thanks for asking for advice.

I’d like to see you call NCO Financial and ask them what extended payment proposal they have the authority to offer. Before we can make a decision about what is the most appropriate solution for you we need to know what the options are. And there may be few.

NCO is most likely acting as the agent of American Express to collect this debt. Their ability to offer repayment options may be limited by what American Express has authorized them to accept.

Once we know what options are on the table then we can make informed choices about how to proceed.

When you call them I would suggest being friendly and courteous with the person you talk to even if they are stern and sullen. Also, don’t volunteer any information about income and assets. This is an informational call on your part, not a call to make arrangements. Just let the person know you want to know what your repayment options are so you can evaluate if repayment is possible within your budget and in a reasonable period of time.

After you call them, report back in the comments.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

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