Bipolar, Income Protection Insurance delays, no income. Single parent, child, Corporate Amex and £7K to pay and scared to call them.
Owe family member and friend money, paying them is so important, I can’t sleep thinking about it.
Credit history destroyed as 10 years ago was sick, made arrangements for lower payments with credit cards, still paying and reported as Default. Now in a financial crisis, if insurance doesn’t pay, private rent due 1st August.
Is there somewhere I can get help where an advocate can talk to American Express with me? Worse yet, it’s a Corporate Amex and it could create problems with my employer, off sick with Bipolar and could end up jobless, homeless.
I am not well enough to discuss my finances.
I understand your concerns and will try to help here as best I can.
I noticed you mentioned insurance in your background information, is this payment insurance for your accounts, or for a specific account.
Does the insurance cover the Amex account?
Have you looked into what benefits you may be eligible for, PIP, or DLA? I know many of these are now absorbed by Universal Credit, have you looked into these benefits?
You also mentioned you had an issue 10 years ago and were paying reduced payments, due to an arrangement?
How much do you owe in total, and how have you been making payments, even token payments?
Do you own any assets, property?
Sorry for all the questions, but I want to get a clear picture of your circumstance.
Does your employer know about the Amex balance? How is the account set-up, in your name, and your responsibility in full, or is it a company card that you have access to as an authorised user?
This is important as it may have a bearing on your options.
Are you in arrears with the Amex account?
If you have no assets, no real income at the moment, and depending on your level of total debt, a form of insolvency may be an option. Much will depend on the Amex account.
I have spoken with and dealt with Amex on a corporate account in the past and found them easy to work with, this is only one/my experience. If you are out of work due to illness, they may also have some options available for you.
As to an advocate to speak on your behalf, there are debt management companies, but I would need more details before I would suggest speaking to one.
You can go to your local CAB, however, not all of them have experienced staff to deal with debt issues, and getting an appointment can be problematic.
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Regarding any money, you owe friends and family, how much is this?
You may be surprised that your friends and family may wait to be repaid if they know it helps you get by for the time being.
If you get back to me with a bit more detail and information, we can look more at your situation and what options you have.
Please post your answers in the comments section below.