Owe 6k to Amex - Can't pay - Please help!

rentasmallhouse

I made the mistake of getting an Amex, started off being able to make the payments and then things took a turn for the worse.

I currently have around 6k credit card debt with them and have ignored all communication as I simply can't pay and am clueless as to what to do.

It seems they've passed on the debt to a solicitor who is chasing me.

Please help! 

Both my wife and I work and even with our wages, we're not left with anything at the end of the month that can make a dent in the debt.

I am happy to answer any questions.

Thank you.

Andyjflet

Amex are probably the worst to deal with, can you switch to a 0% card ?

Also, look at the forum heading articles and post your SOA so we can understand your current situation and advise. 

sourcrates

If you want to stop further action on this, inform them of your circumstances, write and tell them what you have told us-

"Both my wife and I work and even with our wages, we're not left with anything at the end of the month that can make a dent in the debt".

affordability is paramount these days, (according to FCA guidance).

Informing them of your situation will likely hold action on your account, and stop current collection activity.

Ignoring all communication with Amex is not the smartest move, in fact its the quickest way to a CCJ I can think of as they can be particularly difficult to deal with, but you should at least try.

fatbelly

I've not found Amex particularly difficult. Have they passed it to a Debt Collection Agency?

Who is chasing you (name)?

Have they put a default on your credit file?

rentasmallhouse

Thanks for the answers thus far.

I'm not able to move to debt to a 0% card.

I have received a few letters and emails from Brachers solicitors

I don't know if there's a default on my credit file

fatbelly

They probably have defaulted you.

If you get a formal letter before action, you do have to respond

Andyjflet

It would be a good idea to check your credit file and take a look at where you are, more information you have then you have more power to deal with things.

Try Clear Score and get signed up, you can then look at your account history. 

DisabledDan

rentasmallhouse said:

I made the mistake of getting an Amex, started off being able to make the payments and then things took a turn for the worse.

I currently have around 6k credit card debt with them and have ignored all communication as I simply can't pay and am clueless as to what to do.

It seems they've passed on the debt to a solicitor who is chasing me.

Please help! 

Both my wife and I work and even with our wages, we're not left with anything at the end of the month that can make a dent in the debt.

I am happy to answer any questions.

Thank you.

Follow the advice given to you by the others, the only thing I would add is to say that you have had a change in circumstances which has reduced your income.  You don't have to go into detail with them at this stage.

We have all been where you are now and often for far larger sums although I realise that for you right now this looks like a mountain.

We may be able to help you cut your costs and suggest different debt solutions, there are also offers on this site that can get you money to throw at this debt. So please start with your honest statement of affairs, there is no judgement, you can fill it out at this link and then paste the results back on this thread

https://www.stoozing.com/soa.php 

One of the common debt solutions is a debt management plan, it will wreck your credit record for 6 years but that is a guaranteed way to stop you borrowing more.  You can read about the DMP here

https://forums.moneysavingexpert.com/discussion/5897083/dmp-mutual-support-thread-part-13/p1