If I file for BK Chapter 7 and do not put amex on the BK and have the Gold paid in full, will they still close my account? I have been with them for over 20 years and have a great relationship with them. Also, does anyone know - if I have a corp card closed wheather it will affect my gold personal card? Any thoughts...
It won't stop them from cancelling the card even if you reaffirm the debt, but the bigger problem is lying on the BK filing. It would not be a good idea to commit perjury to save a credit card.
If the card is paid in full before filing - no need to report it on your BK. If you pay it off just before filing in an effort to save it, you may have an issue of "preferential payments" that should be discussed with your attorney. Amex could close the card anyway...
thank you for your comments. If I take Amex Corp only to BK and keep my Gold with no balance on it, Amex would still not like this correct? Corp and Gold are in touch with each other. Thanks.
Probably not. Over the years, I haven't heard of many cards "surviving" BK. Most creditors close them to protect their interest. And FYI - once you go BK with Amex - you will never qualify for their card again. They have a LONG LONG memory...
thank you all for your insight. Life is a rollercoaster that even with all the loops and turns I don't want to get off it yet...It is a hoot! Regards
