WOW! Amex can be real JERKS!!!

[MajorMike]

Well, Amex counter offered and said $6,000!!!! $200 a month after the BK is over until it is paid off!!! I countered back at $5K, $100/Mo now until it is paid off...
We'll see what they say...

[EveryDayAdam]

MM,

I don't think they would be able to accept a payment from you while you are in BK. It could be considered collection activity and a violation of the automatic stay. So I doubt that they are going to agree to allow you to pay while you are still in active BK.

[krielly]

Well, Amex counter offered and said $6,000!!!! $200 a month after the BK is over until it is paid off!!! I countered back at $5K, $100/Mo now until it is paid off...
We'll see what they say...

Mike did say their offer was for AFTER the BK is over

[parsoc48]

$100/Mo now until it is paid off...

Yes, THEIR offer is for after BK but Mike wants to start paying now...

[CindyLou]

MM,
If the trustee gets wind of the fact that you have extra money laying around you plan can be ammended!! So, tread lightly in this area!

Why doens't your attorney make the terms of your settlement that the money will not accrue interest and penalties??

I would be careful with the offer, counter offer thing. You are almost up to where they had you in the beginning! Also, didn't your attorney charge you a flat fee to take this objection?? If so, don't let him off so easliy with such a fast settlement. Make him fight for you! I know you want this over and done with, but take a deep breath and take your time.

I dont' know how I've been missing this thread over the last few weeks!! I've actually wondered what was up with AMEX as of lately.

[MajorMike]

Oh, I countered for $5K. Still waiting on an answer !
Yes, they want me to wait til after BK is over to pay...no interest or fees....just the flat amount....$200 a month til it's paid off....
My attorney offered $400/mo and $4k but they didn't go for that...

[CindyLou]

maybe they will forget about it in the next 5 years....

j/k...I hope it all goes well.

Cindy

[MajorMike]

LOL Thanks Cindy...
I would like to pay on it now but really, what's the point if no interest is acruing right? The thing is I will have student loans to pay then too, so I'm kinda freakin.

[krielly]

Since you can afford it, why not pay it now, but not to them, deposit it into a savings account. Then, at the end of your plan you can pay it off in one fell swoop, then you won't have the problem of paying that AND your student loans all at the same time. In the meantime, you will earn interest on the money in your account.

K

[MajorMike]

LOL ya right.....do you really think I can keep money in a savings account? I'd have to give it to someone to hold because I'd find SOMETHING else to spend it on...
Interest??? What at .05%??
It's not even worth it...

[krielly]

Well, that's .05% more than "0"........



K

[Mark80]

This entire situation confuses me? It kind of turns the purpose of Chap 13 on its head and worries me to no end. I thought the point of filing was to get everything together in a managable amount and pay it off over a time period. I have a ton of credit out and its all on things non - medical related so I am assuming its all considered careless spending. So can I even file? Or did this even come up and happen because he filed so close to the last charge?

FRUAD? I mean most that file BK I would assume charged out of their means. So when does this ordeal apply?

[MajorMike]

I charged within 90 days of filing....
They are thinking that I KNEW I was filing BK and charged up the card and they want FULL payment for it....this is why they are disputing discharge.

[chloe0724]

Mike,

I think this whole situation is ironic. If they are willing to negotiate with you for a smaller amount and are then willing to wait for you to pay if after your 13 is over, then what's the point? Why not just let it be included in the plan. It seems like they are wasting more money going this route.

I will say it again, I will never understand the mind of the credit card company.

[holding on]

The mindset is to get YOU riled up, anxious, worried, fretful, stressed out, or any number of things that might make you agree to their initial demands. Especially since they had cause because of the charges less than 90 days before filing.