Promissory Note......Should I?

[Dollar Bill]

Hello All....I received a call this mornign from Nationwide Credit a collection agency representing AMEX. She wants me to work out a pay plan for the next two months on paying my AMEX.

She said she wanted to call me before it was charged off, and they pursue legal.

She wants the first payment today, and for me to create a promissory Note on the rest of the payments.

I plan to fle BK. I will receive some money in a few days from an old biz account. I can make the first payment today, but was wondering if it would be a disadvantage by creating a promossory note. At least in the C7 since?

Can they object because of the promissory note?

[aachudneymiles]

Hello All....I received a call this mornign from Nationwide Credit a collection agency representing AMEX. She wants me to work out a pay plan for the next two months on paying my AMEX.

She said she wanted to call me before it was charged off, and they pursue legal.

She wants the first payment today, and for me to create a promissory Note on the rest of the payments.

I plan to fle BK. I will receive some money in a few days from an old biz account. I can make the first payment today, but was wondering if it would be a disadvantage by creating a promossory note. At least in the C7 since?

Can they object because of the promissory note?

Are you serious? .. Of course not! Why pay if you are planning on filing? .. Why waste you money? If you sign that note you will be legally binded to paying them until you file and its included in bk. Just more proof to give the judge when they sue you. Do you honestly think that creditor cares about your account being charged off? NO! She wants to scary you into paying, Which she has done. Good Luck

[HHM]

There is no way you want to do that. If you are filing BK, just ignore them.

[cj0203]

i agree. Ignore them. They are trying to get you to commit, which is pointless if you plan to file.

[Dollar Bill]

Thanks for the info. I'm glad I asked.

I don't scare easy but it was the first time I ever got a call on my cell phone, don't know how they got that. And she is sending info to my house that I just bought, don't know how she got that./ Not on my credit report yet. Either 3. She speaks of legal action. I haven't paid bus. amex in 5 months. Credit still excellent. I feel as if I need to throw them a bone or two, since I made zero payments.

I will think this over. My att recomemnds I pay something since I will have money for a month or so. And most of it needs to be paid paying biz expenses. It's biz money.

Thanks Again