Can't Pay Amex Charge Card

[Anonymous]

So my situation. Im a senior in college and have been supported by my parents for the past 3 years here. I have an Amex charge card that I use to pay for schooling / supplies etc and my dad usually wires the money to me so I can pay it off. I am an international student. Long story short, i recently came out to my parents as gay and they told me that they cannot support me anymore. I feel very lost as I am stuck on the other side of the world with no help and am very afraid. 

I need to come here to ask advice as to how I should deal with AMEX? The balance on the card is just over $5000. They have not tried contacting me yet, and I am already 1 month past due. I feel like there will be no remorse in this situation. I have residual funds that I need for living expenses etc and am now scrambling to get an on campus job (which is legal with my visa) however I cannot pay this until I am working full time (May/June 2016)

I have no option of getting a student loan or any other loans. My credit is poor enough to get anything other than a payday loan which I am not doing. Any advice for what I can do?

[CH-7-Mission-Accomplished]

You can only do what you can do.  You have no income and you have bigger things to worry about now.  If you can't come up with a plan to pay them like $300/month or something, just let it go.  You are not a resident and if it goes to collection, since your credit is already bad, it won't be much worse.

You can always settle the debt when you are done with school and have a job.

Congratulations on coming out.  I'm not sure where you are from, and different cultures have a harder time with it, but parents almost always come around eventually.  I came out in college (30 years ago) and went through a similar experience.  My very elderly parents are now the biggest supporters of gay rights and gay marriage that you can imagine -- this from conservative Catholics!

There is hope.  Be strong.

[RobertEG]

I assume, notwithstanding that you apparently have no source of other income, that you obtained the credit card is in your name only?

I would place a call to the creditor and ask for some form of reduced repayment or deferral rather than simply letting it go.

[Anonymous]

I am so sorry you're going through this.

Call Amex tomorrow. They offer hardship programs where your monthly payment will be lowered quit a bit for something like six months, which at the least will give you some breathing room while you figure out your next steps. They'd rather keep you as a cardmember than to go through the trouble of a charge-off, just be communicative with them and hopefully you can work something out with them.

Good luck! It'll get better, I promise.

[Anonymous]

Thanks all for the kind responses. It is just annoying as well as very inconvenient for me . I don't want the account to go to collections it will ruin my credit. I do plan to stay here after and am actually engaged to a us citizen. Even if I were not, my moral conscious would not allow me to just leave that debt. IIt just sucks and is very embarrassing too to explain this to people. I feel like I'm a kid who can't handle his financial situation. I will try to contact them tomorrow and see how it goes

[Anonymous]

As a college student, I let all my bills, and then my student loans go and eventually was so overwhelmed I just stuck my head in the sand and now (5 years after graduating) I'm cleaning up that mess...I commend you for being ahead of that curve and for feeling obligated.  Please don't let it overwhelm you and do what I did.

First, definitely call AMEX and see what they can offer for short term help.  Second, work.  However is legal and as much as possible (not sure how the visa issue affects it, but several of my international friends in college were able to hold down steady work during school so hopefully you can too).  You can sleep and recreate after school work is done and bills are paid - you'll never have more energy than you do now.  Best of luck!

[Anonymous]

Good luck!