How nice of Chase

[Danglin]

We just got an offer from Amex today...$2700 on a $27,500 balance. Too bad they weren't the problem and the IRS is!

[TeacherMomma]

Danglin - That is a great offer from AMEX, did it go to collections first? And do they want all of that upfront or in three payments, etc? How long have you not paid them?

[Danglin]

Danglin - That is a great offer from AMEX, did it go to collections first? And do they want all of that upfront or in three payments, etc? How long have you not paid them?

They sent it to collections. We stopped paying AMEX in September of this year and informed them of our intent to file BK beginning of this month. Their collection agency called yesterday to get the attorney information (we just retained one on monday) and that's when they offered that settlement. They never even got into the payment scheme as we couldn't even entertain the offer.

The whole reason for the BK is an IRS debt of $120,000. If that were not the issue, we'd take the AMEX deal in a second!

[jwmc1]

Was the IRS debt because of a failed business?