1099C Talking Points

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Estimated reading time: 5 min

1. Why did I receive a 1099C from American Express?

•American Express believes that under the circumstances, sending you a 1099C was appropriate due to the settlement related to your Account.

2. Why didn’t you tell me I would get a 1099C form from the IRS if I settled my account for less than the full amount owed?

•We are not in a position to provide tax advice. American Express believes that under the circumstances, sending you a 1099C was found appropriate due to the settlement related to your Account.

3. Did you know I would get a 1099C when I settled the account?

•We are not in a position to provide tax advice or analysis. If you have additional questions regarding the 1099C, we recommend you to consult a tax advisor.

4. Will I get a 1099C if I settle my account for less than the full amount owed?

•We are not in a position to provide tax advice or analysis. If you have additional questions regarding a 1099C, we recommend you to consult a tax advisor for specific questions about your taxes.

5. Will there be any tax implications if I settle my account for less than the full balance owed?

•We are not in a position to provide tax advice or analysis. If you have additional questions we recommend you to consult a tax advisor for specific questions about your taxes.

6. What happens to the remainder of my balance if I agree to settle my account for less than the full balance owed?

•Upon receipt and clearance of full payment for the settlement amount, no further attempts will be made to collect the remaining balance.

7. Why did I receive a 1099C from American Express? What should I do with it?

•American Express believes that under the circumstances, sending you a 1099C was found appropriate due to the settlement related to your Account. If you have additional questions regarding a 1099C, we recommend you to consult a tax advisor for specific questions about your taxes.

8. Do I have to pay taxes on the amount listed on the 1099C I received?

•We are not in a position to provide tax advice or analysis. If you have additional questions regarding a 1099C, we recommend you to consult your tax advisor for specific questions about your taxes.

9. I don’t have the money to pay the tax on the amount listed on the 1099C form. What should I do?

•We are not in a position to provide tax or financial advice or analysis. If you have additional questions regarding a 1099C, we recommend you to consult your tax advisor for specific questions about your taxes.

Speak: “Mr. Smith, you know what your account balance is?” “You are well aware of the offers/incentives available for you?”

Speak: (recall date) is the recall date on your account so if you change your mind you have my number, call us back. Failure to do so your account is going back to American Express/higher ups & they will decide what they want to do/they will decide how this needs to be handled. (Psychic pause) Thanks. Have a good day.

Speak: I’m truly sorry to hear about your situation. I’m certainly not trying to make it worse. I believe that I may be able to offer a potential way out of this debt. Lets we work together for a few minutes because I would really like to help you?S

Instruction: If consumer Says No

Speak: After reviewing your file, I think we can help you. I understand that what you just told me keeps you from being able to pay as much as you would like to right now. I may be able to offer you a potential way out of this debt.

Speak: I understand the fact that you are low on funds. While American Express obviously cannot eliminate your debt, perhaps we can come to an arrangement that works for everyone. I have several options to share with you and I am sure we can work together today to get this resolved.

Instruction: Wait for a response.

Proceed with F and C questions

Speak: We may be able to work out some options that you did not think of. Let’s take a few minutes together to see what I can qualify you for. In the past, I have been able to help my customers have a lot of success finding solutions to resolve their debt. Do you have a pen and paper handy?

Instruction: Wait for the response

Speak: My name is Agents FullName and my toll free number is 1800-XXX-XXXX. Is it okay for me to call you back on this number if we get disconnected for some reason?

Instruction: Wait for a response.

Proceed with F and C questions.

Speak: I do not know the specific impact that this account’s status will have. Each individual situation may vary. The purpose of this call is to improve the status of the account. I dont wish to cause you undue stress, so perhaps I can work with you to resolve this. In the past, I have been able to help my customers have a lot of success finding solutions to resolve their debt, and I think I can help you.

Instruction: Propose and arrangement, ( typically small PPA or a settlement)

Instruction: This type of consumer has given up hope and hence he needs to be appreciated and offered Money Sources after a Sif is pitched

Incorrect Charges/Billing error

Speak:When were you billed incorrect charges and what was the amount?

Instruction: Wait for the response. If partial dispute, attempt to collect on the remainder balance.

Speak:I will have this investigated by American Express, how would you want to make a payment on the remainder balance today?

Instruction: Wait for the response. If the consumer agrees to make a payment, proceed with payment options and follow the script below to raise a dispute with American Express.

Speak:Have you notified American Express about this dispute before?

If “Yes”

Speak:When was this reported to American express and what was the outcome of the investigation.

Instruction:Wait for the response and follow the script below.

Instruction:Proceed with call closing. Put the numbers ‘On Notice’ and dispose the call appropriately and request manager review to have the dispute raised with American Express.

If “No”

Instruction:Proceed with call closing. Put the numbers ‘On Notice’ and dispose the call appropriately and request manager review to have the dispute raised with American Express.

Speak: I’m calling on a recorded line. This is (Collectors Full Name) calling from Nationwide Credit, Inc. Is this Attorney / law firm name?

Instruction: Pause for response.

Speak: I’m calling to confirm representation for your client, (BCM’S Full Name). Before I proceed, I must inform you that this call will be recorded or monitored.

Speak: we have been advised that you were representing (BCM’S Full Name) in a pending bankruptcy.

I am calling to confirm whether you are still representing (BCM’S Full Name) in a bankruptcy filing and to secure a case number and chapter number if available.

Instruction: *If more than one person exists with the same name:

Speak: We’re looking for (BCM’S Full Name), who has an American Express account with the last 5 digits as XXXXX.

Instruction: **If more than 1 person exists with the same name and same digits for the account number: Please ask for the last 4 digits of the customer’s social security number, or their year of birth.

Instruction: Let them confirm. – If bankruptcy HAS been filed and the account was included, STOP all collection efforts and conclude the call.

Speak: If bankruptcy has NOT been filed

Speak: Are you claiming fraud for specific charges on your account? Or are you claiming that the account was opened fraudulently Opened Fraud

Speak: When were you first aware of the fraudulent activity?

Instruction: Wait for the consumers response.

Speak: Have you contacted American Express to initiate a claim? (If yes) What was the outcome of the claim?

Instruction: Wait for the consumers response.

Speak: Do you know who made the charges? (If yes) What is the contact name/information of the individual who accessed the account?

Instruction: Wait for the consumers response.

Speak: Was a police report ever filed? If yes, what is the report number, police department and police phone number?

Instruction: Cease collection activity on the account and proceed with call closing. Put the numbers ‘On Notice’ and dispose the call appropriately and request manager review to have the fraud raised with American Express.

Instructions: If consumer requests to contact attorney for bankruptcy details, update the attorney details here AI and end the call. If consumer is ready to provide bankruptcy details then continue the script below.

Instructions: Wait for a response.

Speak:

1. What is the case number?
2. Which date was the case filed?
3. Bankruptcy Chapter number?

Instruction: End the call, put the numbers on notice, dispose the call appropriately, and request manager review

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