Amex Revenge

Revenge?
That's the black list. You owe them money then they never forget.

But why did you apply, you say they cause you distress?

 

Why are you upset at Amex? From what I understand you had a previous account with them that you did not pay. Would you loan someone money again after they didn't pay you back the first time? I wouldn't.

Dani

 

Scholr

Even though the debt was legally discharged in BK, AMEX never got reimbursed. Technically, they have to write it off. I have refused to open credit accounts for customers based on past inability to pay such as a BK (these are commercial customers). I would consider them a high risk account. AMEX probably feels the same way.

 

Of course you owe them the money. Bankruptcy is a only legal protection against further collection attempts. It doesn't mean you don't owe the debt, it only means it's legally uncollectible (with a few exceptions).

Your lack of payment of the debt may be 100% legally, morally & ethically justified. But so is their reluctance to grant a second loan to those who had a problem repaying the first.


Saar

 

I see. So if you default on the account multiple times, and they refuse to accept all your terms for payment, that's extortion.

To paraphrase Nixon's aide's words, it seems we have different definitions for extortion.


Saar

 

Just curious...

How much did you charge off in the BK?

I've always been under the impression that banks have no rules on who they issue cards to. Sort of like, *We reserve the right to refuse service* type thing. Can a credit card issuer refuse to issue you a card for no apparent reason really?

 

THEIR terms are designed for PRIME customers. No sane company would reissue its best card to a past cardmember whose record shows a recent, serial delinquency.

THEIR terms, which you claim to have accepted, also say they have a right to close the account, in which case YOU have the duty to pay any outstanding balance.

The Amex Platinum card features were designed for people w/ prime credit. The annual fee was designed to cover exceptional Platinum perks, not exceptional credit risks.


Saar

 

I have to say your attitude puzzles me. I currently have a chargeoff and am trying to negotiate payment with the bank in a way that doesn't screw me. Even if they refuse to negotiate, I would not say I OWE THEM NOTHING. It was my debt to begin with. I also would never expect that bank to take me off their blacklist.

 

I would hardly call that extortion or revenge, just common business sense. Just because someone went through BK (as I did), doesn't mean the original debt never happened.

Saar is absolutely correct. AMEX "lent" you money, which they reasonably expected you to repay. You did not, so they didn't get their money. No way to read extortion into that.

It appears that you may be overreacting to AMEX's decision. But as long as you have other re-established credit, it's all good.

 

As long as the debt remains unpaid, they are entitled to view the delinquency as recent, and it was recent enough at the time you offered to pay if they re-open it ("affirm").

All I objected to, was your attempt to make it seem Amex's fault, to the point of criminal charges (extortion), when it clearly was a sound and 100% legitimate business decision.

I'm not an Amex employee, and I find it funny you'd think anyone who disagrees w/ you, must be working for them.

Take it easy,
Saar

 

My first point - it is not extortion - as defined:

Extortion - obtaining money or property by threat to a victim's property or loved ones, intimidation, or false claim of a right (such as pretending to be an IRS agent).

My second point - The original poster is correct, that he does not owe any money LEGALLY - he received a discharge - as defined:

Discharge (Bankruptcy): An order given by the bankruptcy judge, at the conclusion of all legal steps in processing a bankrupt person's assets and debts, which forgives those remaining debts which cannot be paid.

So the original poster is both correct that he does not owe the debt but incorrect that he is being extorted.

Blacklisted at best perhaps. AMEX has no obligation to extend credit to anyone, creditworthy or not, former defaulted customer or not. They are a business, working for a profit, not a social agency. They do indeed "Reserve the right to refuse service."

Was the original poster being denied credit due to race, sex, religious affiliation etc. it would be one thing; however the refusal was due to the loss AMEX previously suffered.

 

A comprehensive understanding of the protection afforded by bankruptcy law, far exceeds what can be grasped by reading a plain-English definition of the word.

The debt does not cease to exist. In fact, there are some sections of the law that deal with the question under what circumstances discharged debts should be paid. This was thoroughly discussed by a past poster (Pat M), who has even provided the legal citations here on this board.


Saar

 

Hal,

Maybe I wasn't clear. I understand that under the law he doesn't owe anything. I just said that if I was AMEX, I wouldn't extend him credit either. If I have to write off an account and take a loss, there is no way that I would extend credit to that person again.

 

Saar - I simply posted the definition of a discharge from a law dictionary - In the eyes of the bankruptcy judge/trustee he was "forgiven" the debt - I did not mean to give the impression I believed it ceased to exist - only that it was forgiven.

Were it forever gone no one would ever be able to reaffirm a debt discharged in bankruptcy.

KBelle - I agree - were I AMEX this person would not be offered any consideration for a card or any type of busines relationship with me.

Personally, I found it very hard to believe that any creditor, approached by a client with a bankruptcy petition, would refuse to discuss reaffirmation - a policy like that would be contrary to any good business sense.