So, I will be quitting my job at the end of February. I have a balance of about $7000 on my corporate Amex right now. Part of that is personal and part is business. I received my reimbursement from work for the business portion but had to use it for rent that month, so the bill is getting larger and larger. I plan on filing for Chapter 7 in August/September. Will this bill come back to haunt me or is it just treated like any other creditor? There are no luxuries on it - mostly gas, groceries, a cash advance needed for rent, etc. Ok, one luxury - I did purchase some sunglasses when mine were destroyed by my dog, but that's it. If I'm quitting anyways, should I just include it in the filing and be done with it? I'm worried that any payment that large will be seen as a preferential payment anyways, so what's the point.
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nazstar...I was in the same situation, but I ended up in trouble when my ex racked up charges on my card and I had to file for Chapter 7 with a bill of around $12000 on my Amex!!! So, to answer your question, yes it is treated just like a regular credit card and it will be discharged.
I ran into a situation though when I quit my last job and I got another job that required another corporate Amex card. Amex declined me, but my company was able to co-sign on the request guaranteeing that Amex will get their money one way or another. Hope this helps. -
Thanks! I was just worried it would be treated differently. I don't think my employer would care - I'm the one that has to pay it, right? If I don't pay, they call me, not my employer.Comment
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This is the only card that I am still using and I HAD to use it this month for personal expenses. After this month, we will be caught up with monthly living costs and I can continue to use my paycheck to make ends meet with groceries, rent and utilities. Will the trustee look back past 6 months to see charges? By the time we file, this card would have been inactive for 7 - 8 months. Or will it just not be an issue in the grand scheme of things?Comment
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If your employer guaranteed the card, they'll come looking to them for payment.Originally posted by nazstar View PostComment
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Hmmmm. I think I'll have to call Amex on this one as I'm not sure if the employer guaranteed it. I do know that my assistant was supposed to get one and they declined her so she floats all her business expenses on her personal card.Comment
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What I meant by the employer guaranteeing the credit card balance means that the company I work for would garnish my income until the credit card was paid. Sorry for any confusion.Comment
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Oh. But I'm quitting so I guess that's nt an option for them. If I include it in my filing, it should be okay. I"ll ask the lawyer.Comment
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