Florida. Amex has a judgment against me for some 51K that is almost 8 years old. It is off my credit file already and I am pretty much collection-proof, but I would like to settle it for around 10% instead of declaring bankruptcy. I called Amex's closed files legal dept. and a lady told me that it is their policy to settle for 80% and no less. I have heard that they do settle for much less and would like to know the best way to settle this for the least amount of money.What is the name of your state (only U.S. law)?