Re: Filing Chapter 7 & keeping my AMEX

Posted by LadynRed (68.52.127.174) on May 10, 2004 at 20:17:42:

In Reply to: Filing Chapter 7 & keeping my AMEX posted by terminak23 on May 10, 2004 at 17:34:33:

Forget the AMEX card - its toast once you file for bankruptcy, even if you owe them NOTHING when you file. They are very nasty and they keep a blacklist for YEARS, especially if you had any debt to them discharged.

AMEX's policy is to cancel all accounts when they see a bankruptcy on your credit reports, REGARDLESS of the good standing on the account. You may be better off in re-establishing with them later, but it could be a long time and then you may only get an Optima-type card.

Reaffirmation must be approved by the BK court, and they don't often allow reaffirmations on UNSECURED cards.

I've had an Amex green card for about 20 years, and I owe them ZERO, but I already know I'll likely never see another AMEX Green in my wallet after I file for BK. No big deal, they're not the only game in town, but they are arrogant enough to think so !

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