Corporate Card

[nazstar]

Has anyone else had a corporate AMEX card going into Ch7? I have one for my firm and I pay the bills directly. Problem is that there were a lot of personal expenses that I floated on there for a bit. As long as we don't expense them to the company, it's okay to do. But, now I'm 2 months behind on payments with no way to pay until February. I know AMEX is a little more lenient with corporate cards. Plus, I'll be quitting my job at the end of February so if it gets cancelled, no biggie. But, I wasn't sure how this gets treated. Half the expenses are business related but I used the reimbursement check to secure our new rental (with a LOT of help from a friend).

In February, I will be able to make payment in full with no problem. I'm just wondering HOW much wiggle room they will give me. I've been 3 months behind before (I went on maternity leave) and our assistant didn't submit my monthly expenses. AMEX just called politely and said to pay ASAP.

Will the trustee see this as a preferential payment or do I just say it was over 6 months ago to a non-insider, so it's irrelevant?

[nazstar]

Hmmmm. I guess no corporate cards out there?!

[lrprn]

I have a corporate card, but not AmEx. You asked specifically for AmEx corporate card information - can't give you any insights there.

In my case, when we filed, my corporate card had a zero balance and had no personal charges. Our Ch 13 lawyer suggested I call the card offices - when I did, I was transferred to the manager of their bad debt/bankruptcy division. He told me that since I had a sterling payment record (no lates), did not have a history of using the card for personal charges,and I was not going to list it when we filed, they would allow the card to stay active. However, he also said if they saw any personal charges appear on the card, they would cancel it immediately.

18 months later, my corporate card is still active, I still use it ONLY for business, and the card was just renewed! So far, so good.