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I came across this thread and I’m amazed: I know it’s a closed thread but how can you spend $50k overnight then blame it on having a mental illness?! I’ve read some down right appalling posts but this one is the reason why Amex does FR’s and why responsible people get screwed.
Unfortunately you are considered a very high risk to AMEX. More than one missed payment puts you on the radar and they periodically SP your credit report to check for risks including late payments and maxing out cards. Citi does it, Chase does it and so on. Best case is to pay off the debt as fast as you can, manage and wait it out to apply again. Stiffing them with the bill will get you blacklisted for a very long time.
Honestly I understand you feel like your drowning it debt but I'm trying to understand why you opted to max all your cards and accumulated over $25,000 in debt. Yes a good amount of credit accounts shows good on your report, but if your applying for cards constantly it will look like you are desperate for credit. I filed for CH 13 BK back in 2011 and finally got discharged a month ago. I'll be honest with you it was very, very depressing. Especially the fact that I was in the midst of a painful divorce and had to find an apartment and almost every place I tried to live at was an automatic denial with BK. Here is my advice. 1. Have you called your creditors and explained your situation yet? A lot of them will help you and work out a solution to pay them back 2. If you are getting sued by your creditors and you absolutely positively cannot make any sort of payment on them, then yes you should look into it. 3. Try to see if you can get a loan to consolidate debt and pay off all your creditors. Yes I know this sounds a bit crazy, but you will only have one payment, plus it will clear the debts. You should ONLY file for bankruptcy if it is absolutely necessary. Once you file it there is no turning back and it will be long road to recovery. I am very educated in the BK rules, though I am not an attorney. If you have any more questions let me know. Good Luck to you.