After starting up my business years ago, l had opted for an American Express business platinum card.Over time l lost more clients due to the economy and now l can not afford to pay on the balance.l originally owed them $15,000 and l have it down to $4,500 now.What will happen if l do not pay on it anymore?l honestly have no more money, and they are calling me everyday, threatening to cancel my card.The card was registered under my S-Corp.Can they come after me personally?

They will sue you and there will be a judgment on your credit report

You should call them and make a payment arrangement even if its 100 dollars a month. something is better than nothing

Unless you declare bankruptcy but who wants that under their belt either

Just pay it

OK so here it is l was on ur same situation the difference is that my AMEX was a personal card. l owed $11K & let me tell u there is no way u r going to get them to work out some kind of arrangement with them so l decided to stop paying because l could not handle the stress on the monthly payment. l decided to ignore any contact with the AMEX people & their comunications. Now, (1 1/2 yeras later) they r offering me to settle for $4K. So my suggestion to u payoff all other debt that the creditor is willing to work out a payment play with u & screw AMEX they do not care for u either. After about 6 months they will probably settle with u for 75 cents on the dollar who knows if u wait a year u may even get 50 cents a dollar.