I am getting ready to file for bankrptcy...I have an American Express through work. It has both my company name and my name on the card. How will this card be effected. It is only used for work purposes and it has been paid in full every month.
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Amex will probably cancel your card. They are probably the most bankruptcy unfriendliest outfits around. Toss-up between them and Citi. -
Wow! Then I dont know what to do. I use the card for work. I have to sometimes go to Sweden for work trips and I often have to buy items for work where we do not have an account for. Since I am the Purchasing department (kind of Ironic- I know) then how do I explain that to my work..I was hoping that I would maybe be able to not tell my work. It is a very small location so if one person knows then they all will know.. Kind of embarressed about it.Comment
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Is the card from YOUR comany (i.e. is it your business?) or is it a company card from your employer? You are just a authorized user?
If it is your company/card it will be cancelled. I had Amex for my company and personal cards (my biz) they cancelled all accounts immediatly on notification of the BK. They also appear to be very BK unfirendly.
I have read once you've filed... amex will never issue you another card, even years in the future with great cedit again. But then again... times have changed. We'll have to see what the future brings.Filed 10/11/08 - 341 11/23/08 - Discharged 1/26/09
2/19/09 Stipulation agreement reached w/trustee
- Still awaiting Closed Status 
Check my blog at Steve's Bankruptcy Blog Watch day by day what happens with a PITA trustee! - Web Hosting by Broadband Hosting Web HostingComment
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It is from my employer and I am an authorized user. Most of the emplyees at our company have one since a lot of us travel. SO I didn't send in the credit app.. they did and then the card got mailed to the HR and she gave it to me.. But is does actually have my name on the physical card underneath the company name. I get a seperate statement that is mailed to my work that only shows my charges.Comment
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Riley,
DH has a cc from his employer. US Bank, card is under his name and company's name, however when the attorney pulled dh credit to file our BK, US Bank did not appears under dh credit. Check your credit .Filed Chapter 13 12/16/2008 1/30/09 - 341 Meeting
3/5/09 - Confirmation Meeting-continued July 23rd
8/23/09- Confirmation Meeting -Continued 1/17/10
Payment: 60 months plan @ $319.00Comment
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Thanks! Will do.Comment
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You may also want to check with your company's accounting/expense department to see how they want to handle it. Also, you need to check your employee handbook to see if you need to notify them of the bankruptcy. They may have an alternative purchasing process in cases like these.
I happen to have what's known as a P-Card that is good for 3 months with a set spending limit. After 3 months, I have to request a new one. It's a pain, but it works for the items that I have to purchase for our office.sigpic
Filed - 11/19/08;341 - 12/22/08
Discharged - 2/23/09 ;Closed - 3/6/09
Got my first post BK credit line - car loan - 4/9/09 On my way to recovery.Comment
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I never head of a p card before. I will check to see what they say. Thanks!Comment
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well ran credit and the card is not on my credit report since I am only an authorized user. So I think I am ok.Comment
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Not true in my case. I had my discharge back in 2003 and got my $3K limit AMEX 1/12/ years later. However, Discovercard will not give credit to those with a BK.....Originally posted by FloridaGuy View PostComment
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Originally posted by Riley View Post
You are probably fine. It's the company's card that you are using for company expenses and turning in expense reports. As long as you continue to pay the bill that comes to you, you should be fine.Comment
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At the end of the day, Amex can choose to issue cards, not issue cards or revoke cards from whoever they want for whatever reason they want.
One sticky point to watch out for, and AmEx is sneaky about this. Watch out what you sign with them. They often burry in the fine print that you're responsible for all charges if the company doesn't pay.
You heard it right, they'll sign you up as a cosigner, not an authorized user. Ask any former Enron AmEx holder about that one. They went after the employees.Comment
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I never signed anything from AMEX. Just our company's form saying I would only use it for business purposes.Comment
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