If I want to file bankruptcy, but I have credit cards that are in good standing, do I need to include those credit cards? 28 Answers as of March 23, 2015

If so, will they end up being closed?

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Yes, you have to disclose all debts and yes they will be closed as soon as you file as the creditors scan the social security numbers of bankruptcy filers.
Answer Applies to: New York
Replied: 3/23/2015
EDWARD P RUSSELL | EDWARD P RUSSELL
You must list all of your assets ad all of your debts. You could sign a reaffirmation agreement if you want keep a credit card.
Answer Applies to: Minnesota
Replied: 3/17/2015
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
The credit card companies get notified immediately upon your filing BK. Their computers will close your cards immediately. It is all done electronically and automatically.
Answer Applies to: Colorado
Replied: 3/16/2015
Ronald K. Nims LLC | Ronald K. Nims
Part of a bankruptcy is a listing, under oath of perjury, that you have listed all your debts. The best way to keep a credit card is to have it paid off when you file.
Answer Applies to: Ohio
Replied: 3/16/2015
Stephens Gourley & Bywater | David A. Stephens
You are supposed to list every debt, even those in good standing. They will likely be closed by a bankruptcy filing unless you can work something out with them.
Answer Applies to: Nevada
Replied: 3/13/2015
    Law Office of Marlin Branstetter
    Law Office of Marlin Branstetter | Marlin Branstetter
    All debts must be listed in your bankruptcy. In my experience the credit cards are cancelled when the bankruptcy is filed even if you are current or have a $0.00 balance.
    Answer Applies to: California
    Replied: 3/13/2015
    Eranthe Law Firm
    Eranthe Law Firm | Cate Eranthe
    The bargain you make with the bankruptcy court is full disclosure in exchange for all dischargeable debt being wiped out. You MUST include everything. You will be signing under penalty of perjury that you have disclosed everyone that you owe money to, everyone that owes you money and all potential claims. It is likely the credit card will be closed. It's entirely up to the lender.
    Answer Applies to: California
    Replied: 3/13/2015
    The Law Offices of Ryan F. Beach, PLLC
    The Law Offices of Ryan F. Beach, PLLC | Ryan Beach
    When you file bankruptcy all debts must be included, whether they are in good standing or not. When you sign the documents associated with the bankruptcy filing, you are signing under the penalty of perjury and swearing that you have included all of your creditors. Unfortunately, you can not pick and choose which unsecured creditors are treated/discharged. To do otherwise would be to show preference, which is prohibited by the Bankruptcy Code. This is true whether you are filing Chapter 7 or Chapter 13. Even if you did not list the creditors in your bankruptcy schedules, the creditors would most likely discover your filing because of reporting to the credit bureaus. You will receive credit card offers after you file. Filing bankruptcy can actually improve your credit score and provide you greater access to credit.
    Answer Applies to: Michigan
    Replied: 3/13/2015
    Novakov & Associates, PLLC
    Novakov & Associates, PLLC | LINDA S. NOVAKOV
    When filing for relief under the bankruptcy code, you must list ALL your debts and ALL your assets. Even if you intend to continue to pay the debt to the lender. You cannot pick and choose the creditors you wish to retain. That would be considered a "preference" under the bankruptcy code and could result in your case being dismissed.
    Answer Applies to: Kentucky
    Replied: 3/13/2015
    J.M. Cook, P.A. | J.M. Cook
    All debts and all assets must be included in a bankruptcy filing. Yes, the credit card companies will close those lines of credit.
    Answer Applies to: North Carolina
    Replied: 3/13/2015
    Grasso Law Group
    Grasso Law Group | Charles Grasso, Esq.
    You need to notify all your creditors when filing for bankruptcy. Whether or not the credit card company will close your account is somewhat dependent on the type of bankruptcy and your situation, but usually the accounts will be closed. Normally you cannot incur additional debt while in bankruptcy without court or trustee permission.
    Answer Applies to: California
    Replied: 3/13/2015
    Garner Law Office
    Garner Law Office | Daniel Garner
    You are required to list all the credit cards on which you owe a balance, regardless of whether you want to keep them or not. Even if you don't list them, most of them monitor bankruptcy filings nationwide and will cancel your card if they discover you have filed bankruptcy. It depends entirely on the card issuer's policies. You can always try to convince them you will keep paying them, and you can offer to reaffirm the debt. But you can't really count on keeping any credit cards.
    Answer Applies to: Oregon
    Replied: 3/13/2015
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    Yes and yes they will be closed.
    Answer Applies to: Florida
    Replied: 3/13/2015
    Davis Law SC | D. Nathan Davis
    You must include all debt that you owe when file for bankruptcy. If you have a credit card with a zero balance, you do not have to list it. However, it is likely that the credit card will be cancelled. Almost all of the creditors use a service that reports filings by social security number. Creditors register and get notice of the filing immediately. You need to talk to an attorney to make sure of your rights. You need to understand that filing bankruptcy is not about keeping credit, but, getting a "fresh start".
    Answer Applies to: South Carolina
    Replied: 3/13/2015
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Generally yes, and yes. It will be up to the lenders.
    Answer Applies to: Michigan
    Replied: 3/13/2015
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Yes and yes.
    Answer Applies to: California
    Replied: 3/13/2015
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    The law requires you to list all of your debts. All accounts will be closed. Post bankruptcy you can get a $500.00 secured card and use it wisely to rehabilitate your credit. If you have a car payment that will help as well.
    Answer Applies to: California
    Replied: 3/12/2015
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes, you must include all debt and the cards will be canceled.
    Answer Applies to: Nevada
    Replied: 3/12/2015
    Tokarska Law Center
    Tokarska Law Center | Kathryn U. Tokarska
    Yes all debts must be disclosed and listed as debts in a bankruptcy filing. Yes, usually all credit card accounts end up getting closed. It's also important to take a look at your payment activity in the previous 90 days before deciding on a BK filing date. The purpose of a bankruptcy is twofold. On one hand it is to provide a good faith debtor who cannot afford to pay their debts a fresh start. On the other hand it is so that all equally situated creditors receive equal treatment. Before Bankruptcy existed, creditors got what they could from the debtors by racing to get their hands on the debtor's assets. Typically, whoever got there first got what was there and leaving the others getting little or nothing. Bankruptcy was created to provide an order and fairness. There are categories of debts. There are secured debts, unsecured priority debts, and unsecured non-priority debts. Credit cards (except for secured credit cards) fall into the category of unsecured non-priority debt. Paying one credit card while not paying others is basically preferential treatment. Hire an attorney to represent you so that they can guide you with respect to this and any other pitfalls that may be an issue in your particular situation.
    Answer Applies to: California
    Replied: 3/12/2015
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    It's is a legal requirement to list all your debts regardless of their current standing. In order to keep the accounts in good standing open, you will need to get in contact with the creditor and negotiate with them.
    Answer Applies to: Texas
    Replied: 3/12/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    You must list all creditors to whom you owe money or property, or who claim you owe them money or property, at the time of filing. If you have a zero balance on a credit card, generally you need not list that card. BUT the credit card company has ways of finding out about the BR and canceling the card. Skilled bankruptcy lawyers have some techniques which can help preserve the credit card or cards. Consult one. Incidentally, to get the full benefit of your bankruptcy, you should retain very few cards if possible only one. Good Luck.
    Answer Applies to: Wisconsin
    Replied: 3/12/2015
    Law Office of Andrew Oostdyk
    Law Office of Andrew Oostdyk | Andrew Oostdyk
    If those credit cards have a balance, yes you will need to list them in your bk. And they will likely be closed. If there is not a balance owed, you do not need to list them, but they will likely be closed as well when you file.
    Answer Applies to: Texas
    Replied: 3/12/2015
    John W. Lee, PC
    John W. Lee, PC | Kim A. Lewis
    The answer to both of your questions is yes. You must list all debts that you owe and, upon receiving notice, the creditors will likely close your accounts.
    Answer Applies to: Virginia
    Replied: 3/12/2015
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    All debts must be listed, so if they have a balance owed, good standing or not, they must be included. And yes, that means that usually, they end up being closed.
    Answer Applies to: California
    Replied: 3/12/2015
    Freeman Law Group, LLC
    Freeman Law Group, LLC | Derek Freeman
    You are required to list in your petition and schedules each and every debt that you have. That includes credit cards. If you want to keep your credit cards, you could possibly sign a reaffirmation agreement if they agree. Chances are, your credit card companies will not offer a reaffirmation agreement that will be to your liking. They will probably change the terms due to your bankruptcy. You can also keep your credit cards if you pay them off in full prior to filing bankruptcy. But again, your credit card companies are not obligated to keep offering the same terms. They will probably raise the interest rates and lower credit limits if and when you file bankruptcy. It's a bummer, but if your need is great enough, and if you qualify, you should consider filing bankruptcy anyway.
    Answer Applies to: Colorado
    Replied: 3/12/2015
    Wink & Wink
    Wink & Wink | Gigi Wink
    Yes, you must include everything you owe and everything you won or have rights to when you file bankruptcy. That is the cost of getting out of your dischargeable debts. Your credit cards will be closed and if you have been using them prior to filing that can be a concern as well. Best to get legal advice.
    Answer Applies to: Colorado
    Replied: 3/12/2015
    David Andersen & Associates PC | Jeremy Shephard
    Yes you have to include those credit cards in your filing. You have to list everyone you owe in the petition. Even with a $0 balance (meaning they don't have to be listed since you don't owe them anything), the credit card companies will likely close your account because of the bankruptcy filing as you will be a changed risk.
    Answer Applies to: Michigan
    Replied: 3/12/2015
    Scott Goldstein | Scott Goldstein
    When you file - all cards are included and yes, they will be closed.
    Answer Applies to: New Jersey
    Replied: 3/12/2015
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