Why Haven't They Sued Yet?

[I_Suck]

My wife stopped paying the AMEX card back in late 2007. We got sent to 2 diff CA's, made $100/month payments with one of them for 8 months. We then got sent to a different CA and then to yet another CA. Right now we are on the 4th or 5th CA. This is in the $12K ballpark so I wonder why AMEX hasn't filed a law suit yet. Not that I want them to, I am just curious as to why.

Maybe it's because my wife makes a low salary, around $20K/year?

Maybe it's because her student loan payments devour 80% of her take home pay?

Maybe it's because NC is a non-community property state and doesn't allow wage garnishments for CC debt?

Maybe it's because we have very little equity in our home?

I see many posts here where many CC companies sue at the drop of a hat. Just wondering what AMEX is thinking.

[BigJohn]

I would say you must be 'doing something right'.

Do you own a car? If so, is it paid for? What year? Payments?

Do you own a house? Same questions?


There has got to be some pattern, what is it?

[I_Suck]

We have 2 cars. Both are just in my name. One is almost paid off and one is owned free and clear. The SUV is 7 years old and the compact is 10 years old.

We own a house, but have very little equity in it. Probably less than $10K after mortgages are paid and realtor fees.

[whyme]

I wonder the same thing. We stopped paying most cc's in October of 2007. Our debts have been passed around to many, many ca's but no one has sued. In fact, they barely call anymore and have pretty well stopped sending letters.

We rent a home and we drive 7 year old cars. Maybe they figure they can't get anything anyway, except maybe garnishing my husband's wages, but that really wouldn't accomplish anything since he really doesn't make that much.

[BigJohn]

We have 2 cars. Both are just in my name. One is almost paid off and one is owned free and clear. The SUV is 7 years old and the compact is 10 years old.

We own a house, but have very little equity in it. Probably less than $10K after mortgages are paid and realtor fees.

What is your employment situation and history like?

[BigJohn]

I wonder the same thing. We stopped paying most cc's in October of 2007. Our debts have been passed around to many, many ca's but no one has sued. In fact, they barely call anymore and have pretty well stopped sending letters.

We rent a home and we drive 7 year old cars. Maybe they figure they can't get anything anyway, except maybe garnishing my husband's wages, but that really wouldn't accomplish anything since he really doesn't make that much.

If you rent and your husband doesn't make much, that might be the answer.

[I_Suck]

What is your employment situation and history like?

We are both employed. Does my employment have any bearing on my wife's debt? This CC was only in her name.

[BigJohn]

What State are you in?

[I_Suck]

what state are you in?

nc

[cleanslate01]

Interesting. I was wondering the same. How do they determine when/who to sue?

[optimistic1]

With information they obtain about your asset's, and your credit report will reflect who you work for, they call and verify, then sue and garnish.

I believe that if I never told my creditors about potentially filing a bk, they would have sued along time ago. But because they know that I know what my rights are, they will play this out as long as the SOL is valid.

[optimistic1]

or die, lol

[I_Suck]

I guess I have to check with AMEX again, but when I called a few weeks ago the rep on the phone read to me what was in the notes on the account, "sold to Sherman/Resurgent Capital".

This is either a mistake or I am in one of those rare cases where they did indeed sell the account. I haven't received anything from AMEX in the mail since early 2008.

[cleanslate01]

I have 3 accounts with AMEX.
My personal Gold card has a balance of $16K.
My Blue has a balance of $2,400
My corporate has a balance of $1800 (this was work related but I quit and the manager refused to approve any expenses I had pending. So much for whistle - blowing.

Anyways, I have gotten letters from collection agencies on all 3. I stopped paying over 2 years ago. Filing for BK now.

[BigJohn]

I have 3 accounts with AMEX.
My personal Gold card has a balance of $16K.
My Blue has a balance of $2,400
My corporate has a balance of $1800 (this was work related but I quit and the manager refused to approve any expenses I had pending. So much for whistle - blowing.

Anyways, I have gotten letters from collection agencies on all 3. I stopped paying over 2 years ago. Filing for BK now.

I 'walked away' from a business American Express back in the mid 90's. I had just bought a sports car using the American Express prior to walking away.


3 years later I opened a business and got the same merchant account I use to have - no problem. Never could figure that out. And about 6 years later, got some American Express credit cards. Still no problem.