New to this sub and learning more about options to carry me through a difficult season of life. Thank you in advance for responses and for being compassionate as I’m still learning.
Got myself into trouble while navigating becoming my mother’s caregiver full time without being able to work as she declines with terminal cancer. Prior to this season of life I was in a much different position – making six figures, paid off car, completely consumer debt free with $20k in manageable federal student loans. During that time I had worked very hard on my credit for a decade and opened two AMEX cards – a Platinum and Delta Platinum. The benefits, points structures, and perks worked perfectly for my lifestyle (I have a love for the slightly boogie/elevated). I paid off the balance monthly and enjoyed the luxuries I could afford.
Now life is very different. Two years of navigating this intense family challenge has emptied my savings (retirement untouched) and I’ve been living on credit for a few months. My income has finally reached zero after exhausting leave benefits and I don’t know how I’m going to pay my minimum payments next month.
Here’s my question as I consider bankruptcy – If AMEX is burned during the bankruptcy, has anyone ever had the experience of being able to get back in their good graces again in the future after a number of years? Or even after paying them what you owed many years later? Or does filing bankruptcy while having AMEX cards mean you will never be able to work with them again?
To be clear, losing the luxury of enjoying Platinum benefits for the rest of my life isn’t going to be the only reason I wouldn’t choose to go this route, but just trying to understand this piece of the picture as I weigh my options. I understand there are other cards in the world and survival is more important than a silly luxury, but just want to feel fully informed of all consequences as I make my decision.
submitted by /u/orions_revenge
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