Amex debt not in IVA

[Ints]

American Express Gold card and Flexselect debt

Hello, I'm a newbie to this forum and would like some advice on my situation.

 

American Express have recently found out that from the Insolvency register that I am in an IVA - approved back in November (£32k credit card debt). Amex are not part of that IVA (I was stupid to not include them but I was hoping to maintain the flexibility of the card for emergencies.). I have a balance of £2930. I have never missed a payment on the account, its not in arrears or over the limit. But when Amex found out they cancelled my card straight away and have passed my account to Brachers debt collection. I have not had any correspondence from Brachers yet. But Amex are saying that they will show my account as default and asking for immediate full repayment. The online account showed a minimum payment of £95 for Dec which I have paid.

 

What are my options ?...as I am worried this will fail my IVA. I will still make minimum repayments to Amex in the meantime.

 

repayment plan?. I may have to inform my I.P and try to get Amex included in IVA but will Amex be prepared to go into IVA?.

 

I want to deal with Amex direct but they say that Brachers are now dealing and won't talk about my situation.

 

Any advice would be appreciated.

[IdaInFife]

Because you have knowingly not included this creditor in you IVA it oculd invalidate and cancel the IVA. Amex are correct int hat they have founf out about your IVA andundet their terms and conditons can cancel/terminate your agreement and stop any further credit and they can continue with eforcement action.

 

At this stage i would recommend contacting your IP to inform them of the siutation.

[debtinfo]

Yep you have to inform your IP now. You are only going to make matters worse if you dont, If you come out of this with only a failed IVA then you will be doing well as you have technically comitted perjury by lying on a court application

[nottslad]

Amex also very rarely vote in acceptance of an IVA at a MOC.

 

By entering a formal insolvency type Amex are justified in their actions of cancelling the account, also they could be viewed as a preferential creditor in this and as such make sure you contact your IP as soon as possible before the situation gets any worse