Corporate Amex Card

[Walnut]

I am hoping to file on the 29th. I have a bill to pay to my Corporate Amex for $1500 from business trips/expenses incurred in February. I did not list Amex since the card really isn't mine. Is this going to be an issue?

[ethrjock]

I had the same concern. My atty said dont worry about since it's money in from your company reimbursement and money out since you pay the cc company. I had $10,000 in travel expenses right before I filed and I just had my 341. It was never mentioned.

[LostOne0069]

nope, not a problem... same thing for me... but be ready... as soon as you file, Amex is going to cancel your corporate card.

[Walnut]

Why would Amex cancel it? It is guaranteed by my company and how would Amex even know?

[lrprn]

Why would Amex cancel it? It is guaranteed by my company and how would Amex even know?

AmEx can easily find out about your bankruptcy through the shared pool of debtor information kept by all the big credit card companies.

AmEx is notorious for being very unfriendly to bankruptcy filers. Does your company have a policy that allows you to make personal charges on the card? If that is the case, then your corporate card could be at risk.

Unlike yours, my corporate card (not AmEx) was not guaranteed by my company. When I applied for it through my company, whether I got the card or not depended on my own credit record (which was good at the time). When I knew we were going to file Ch 13, I was panicked. On my boss's and our lawyer's advice, I called my corporate credit card company a month before we filed to find what would happen. Since I had a stellar payment record with no late payments for four years and because I had never used the card for personal purchases, as long as we did not include this card on our creditor list, the cc company allowed me to keep my corporate card active after we filed.

However, the card's delinquent accounts director did tell me that if they ever saw any non-business-related expenses charged on the card while our case was active, they would cancel my card immediately. We filed six months ago and I use the card for business expenses only when I travel - so far, so good.

[Walnut]

My card was originally denied by Amex due to my credit rating. Then my company backed it for $2000 max. It is not permissible by company policy to use it for personal use (although I have occasionally done so - but these are done while on business - such as movies in-room at a hotel etc). The bill goes to my company address and I am reimbursed for all expenses by my employer. If this is at risk I will opt out of BK and just continue to pay what I can when I can (I live in Texas and am judgment-proof). I did not list them as a creditor with my attorney since it is not my card nor is it on my credit report. Amex already knows I have lousy credit and denied me in the first place. The card is guaranteed by an officer of our company, since I need to travel on business.

[kcj]

Our company (we own a business) has a corporate AMEX that survived our personal bankruptcy just fine. We were worried they would close it, but they never said a word.

[wrinkleigh]

Another Question --

I have a corporate Amex through my company -- never made a late payment -- currently no balance due.

But DH has one in HIS company's name -- and he is including HIS account in the BK.

Will they cancel MY account because they are receiving the notice on DH's account.

I am assuming both mine and DH's name will be on whatever AMEX receives.