I have heard a few stories about card companies getting tough with their customers when they do not pay their monthly fees. On many of these occasions it has been American Express that makes the headlines. This story seems to be no exception.

An long-term Amex customer lost their jobs in 2003 through redundancy. Too old apparently and with the city looking to cut costs the older person was the obvious choice.

After keeping up their payments for the next two years out of the redundancy funds they eventually ran oput of money to pay their creditors. Amex even increased, without the permission of the card holder, their credit limit. An astonishing situation given they had been made redundant, had a heart condition and was therefore not a good bet on getting another job similar to their originally well-paid city job.

They moved from London for health reasons and in 2007 were contacted by solicitors acting on behalf of Amex (Stevens Drake, Crawley). They wrote to them stating the circumstances and that they would attempt to pay but at a reduced amount. Stevenss Drake wrote back a few weeks later demanding the whole sum or a monthly payment which would clear the debt over 5 years. Stevens Drake diod not appear to listen to the previously impeccable customer.

In the last few days they have served a bankruptcy notice on this former customer. They have not even the decency to find out the current circumstances re: health and welfare. This sort of inconsiderate action against a vunerable 60 year old living on benefits seems to be less than good customer relations. It is downright bloody mindedness on behalf of American Express and their solicitors.

In 1964 Amex lent money to an oil supplier. The debt was secured against the oil contents of the customer's tanks. they built more tanks and filled them up on oil bought with Amex's money. later that year Amex sent their representative to see how things were going. When they got there they found the tanks in fact had been filled with water and not oil. Amex had been defrauded of many millions of dollars all because they never checked the customer credit rating.

The 60 year old with the heart condition has their own tanks full of metaphorical water and not oil. Amex never checked their 'tanks'. this was no fraud though, just the circumstances of an elderly person not being able to meet their obligations anymore because they 'were too old to work'.

Scandalous! In 1964 it nearly brought down American Express. Warren Buffet stepped in and made such a killing he in now one of the wealthiest people in the globe.

The 60 year old has no Buffet to step in. No chance of avoiding bankruptcy unless creditors behave better to their longstanding customers that land on hard times.

HD

Editors:

Stevens Drake, 117 High Street, Crawley, RH10 1YN Contact: Graham Penn 01293 596958
American Express Services Europe, Belgrave House 76 Buckingham Palace Road, SW1W 9AX