How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

Financial difficulties, went from 40,000 permth income to zero.

Customer Question

Financial difficulties, went from 40,000 permth income to zero. negoiated 14 of my mtgs, trying to sell properties, none selling to give me any money, need more time,american express two cards plat 16,000 blk card 95,000 offered to pay 1,000 on one (plt) 2,000 on blk card. law firm with plat, yes, blk card they want 5,000 mth, i cannot doit. they trans acct to cal. fo sue me, i called amx general counsel , secretary called, nothing they can do. I was successful will all my other obligations hate to declare bankruptcy just to protect me for one acct. is that my only option? i only need 6mths, i told them, i have large residence i will fire sell. ??? help
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.
Have they actually filed suit?
Customer: replied 7 years ago.
sorry, i may have responded in the wrong box, they have not started suit yet, the newest attorney from santa anna calif. sent me a letter i got on the 17th of dec that i had 30 days to respond. the atty in new york for the blk card who advised me if i did not accept the 5,000 monthly amt, amx would trans case to calif and sue, i have not heard from him again, and the third atty for the platinum acct 15,000 aprox, is calling daily to find out why i have not made payment of 1,000 monthly as i agreed to do , when i was thinking i could get the blk card to agree to 2,000 per month. but seems pointless to pay 1,000 when the blk is going to sue me. thank you, XXXXX XXXXX
Customer: replied 7 years ago.

hello, i am checking in to see if you are still interested in my post, or if i should repost. plesase advise, thankyou for your help

Expert:  Ellen replied 7 years ago.
I just received your post. Please give me a few moments to compose my answer.
Customer: replied 7 years ago.
ok, thank you for updating............ doug
Expert:  Ellen replied 7 years ago.


Thank you for your information. I am happy to assist you.

I understand that you are adverse to bankruptcy since you have successfully negotiated your other debts. However, it is an option available to you.

The attorney handling the am ex account is likely working on a contingency fee basis. If so, he is not going to be anxious to transfer the collection to another attorney to file suit as he will not be paid. It is in his best interest to keep working with you. That said, you can consider telling him that he should transfer the case and sue. He may be pushing you to get the best deal he can and when he realizes that this is your best deal, he may be more willing to agree.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,

Please click ACCEPT so that I can get credit for my work

Bonus and Positive Feedback gratefully accepted!


Customer: replied 7 years ago.
thank you, XXXXX XXXXX have not explained properly, THE NEW YORK ATTY HAS ALREADY TRANSFERRED IT TO A SANTA ANA CALIF. ATTY so i guess its past the point of sort of "bluffing" the new york atty. i plan to call the santa ana atty who is no threatening lawsuit , on monday, are you saying that possibly the acct is just been transferred again and they are still looking to make a deal? why would the new york atty give it up?
Expert:  Ellen replied 7 years ago.
I do not know why the NY attorney would give up the case. It is unusual. However, it is still possible that they are willing to make a deal with you.

You can also consider, as a last resort, entering into a consent judgment. This would save the expense of litigation being added to the amount that you owe. Once the debt is reduced to a judgment, am ex will still need to collect the debt and you could still negotiate the payment terms.
Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 7 years ago.
Thank you so much for your help, have a great eve. doug
Expert:  Ellen replied 7 years ago.
Have a Happy New Year. Please let me know if you have additional questions. Thank you.

Related Bankruptcy Law Questions