Hello. I am new to message boards in general, so forgive me if this question has already been posted. I did a search and came up with nothing on this site. At 43 and having a perfect credit rating, I am having to file for personal (not business) bankruptcy, because my new startup business has not taken off like planned. It's a real bummer, but no choice. I absolutely do not want to file on AMEX and I am under the impression that I don't have to because they are not a revolving creditor. However, after speaking to an AMEX customer service rep recently, they are obvioulsy getting a little nervous about my recent credit report (negative) activities. My question is. Will American Express drop me anyway, once they find out I have filed for bankruptcy? I really like AMEX and was hoping to keep just this one credit card for convenience purposes for the next ten years. Any help would be appreciated. Dock
they just might. they are under no obligation to keep your account open. i would talk to someone at AMEX about what you need to do to keep their account open. Reaffirmation doesn't just pertain to houses and auto loans.
Had the same situation, we paid in full every month, never late. My rational was the account is paid in full every month, we mentioned them in the filing but didn't include them in any balances owing. My lawyer warned me that they would catch it sooner or later regardless if we paid on time religously. Got a "friendly call" 6 months after filing a chapter 13, they were canceling my account. They're loss.
American express has a long memory. If you want to have a business relationship with Amex in the future then you don't want Amex to lose any money. Even 10+ years later, Amex will refuse to give you a new card. Only, and it is a necessary but not sufficient condition, by paying Amex in full will you have a chance of getting an Amex card. You probably don't have to include Amex in the bankruptcy, but if Amex finds out about the BK then they may cancel the card.
