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The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.

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โˆ™ 2005-10-09 20:41:05
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Credit and Debit Cards

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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Credit and Debit Cards

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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Math and Arithmetic

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Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

How much time will a 500 investment need to earn 100 in interest at a rate of 10 percent per year

1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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Q: If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
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Related questions

Can you close your credit card account and continue to make payments?

No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments

How do you get a creditor to withdraw late payment reports that occured after you filed BK if the creditor claims they can continue to report this?

If the account with the late payments was discharged in the bankruptcy, that account needs to have all information removed except for the "discharged in bankruptcy" (or similar) statement. Once the account is discharged, continuing to show late payments is like hitting the consumer twice. Send the original creditor copies of the pertinent pages from your bankruptcy papers, copies of your id, ss card and a letter requesting that they change the way the account is being reported to the bureaus. Concurrently, write the bureaus and request the same changes. If you are not successful, you may have to file suit to have the information shown accurately.

Can people in bankruptcy have a bank account?

yes you can and most times it may be needed if you are filing a chapter 13 and you want the payments to be garnished directly from your account

If a loan is set up through an automated clearing house payments is a bank obligated to stop these payments upon notice of bankruptcy?

Under the ACH rules which govern automated clearing house transactions there is no requirement to discontinue recurring transactions upon bankruptcy. In order to stop the recurring ACH payments, simply send a written notice to the organization that is debiting your account which states that you are revoking your authorization for them to debit your account. If they continue to debit your account, you can contact your bank and fill out a WSUPP (Written Statement Under Penalty of Perjury) form and your bank will reject any future payments from being debited from your account and refund to you any debits which ocurred after you revoked authorization to the organization debiting your account. For more information: and

How do you cancel your Spotify account?

If you have a free account you can just ignore it. If you have a Premium account and wish to cancel payments then you need to login to and visit the your subscription page from which you can click on "Go to the cancellation page" and continue to cancel the recurring payments.

If an account was included in a Ch 7 bankruptcy can the account's history of late payments still be listed on the credit report?

Yes, your payment history will still be a part of your credit report as well as the Chapter 7.

If you declared bankruptcy can a creditor continue to mark your report as a charge off even after the date of your bankruptcy?

The account will or should be changed to read "included in bankruptcy". It will still however remain on the report until the seven year time limit expires. However, the account is charged off for the amount that wasn't collected and reporting that would be proper too. (Charge off is how the creditor reflects that you didn't pay and he had a loss on the account...that it was by bankruptcy makes no difference...actually worse).

Can one open checking account after declaring bankrutcy and if so does it affect the status of the bankruptcy?

After declaring bankruptcy it is smart to wait six months before obtaining a new account. If a trustee finds that you have XXXX amount of dollars in bank B after closing an account at bank A it will look as if you tried to defraud the bankruptcy law. For chapter 7 wait until discharge for chapter 13 as long as you are making timely payments it doesn't matter.

If your mortgage payments are being taken automatically out of your bank account and then the bank goes out of business will the payments continue?

You will need to be more clear on what you mean by out of business. In most cases today all of your assets are protected by FDIC and the bank will be seized. In this case, normal operations will continue for the bank. It will be a good idea to verify that the payments are coming out ok.

Can you keep one of your credit cards if you file chapter 13 bankruptcy?

Yes; however, the issuer is not required to continue to extent you credit (can close the account).

Should an account discharged in bankruptcy have a status of closed and if it still says open is this hurting you?

In this instance the account would generally be noted as "included in bankruptcy. The impact the open account would have is insignificant, compared to the bankruptcy.

What does adverse accounts mean?

An Adverse account means a delinquent account. An account that has not received on time monthly payments, or payments at all.

Are used to take money directly from your account.?

A standing order or a direct debit allows money to be taken out of your account, as the account holder has authorised the transaction. A transaction that will continue until the account holder states otherwise and cancels any future automatic withdrawal payments.

What is usually the largest single account in the overall balance of payments?

The largest single account in the overall balance of payments is, for most countries, the current account.

If a collection agency freezes your bank account and on the next day you file for bankruptcy can they still freeze your money?

A collection agency, or any party, can only freeze your bank account IF they have sued your first and won a judgment against you. If you file for bankruptcy, it will not immediately release the levy on the account. The court that rendered the judgment must be notified of the bankruptcy filing, as well as the judgment creditor. The account could remain frozen until the outcome of your bankruptcy. If your bankruptcy, and the judgment debt is discharged, then the bank account must be released. It is possible to release a levy before discharge, but it will usually require the bankruptcy attorney to do it.

Can you declare bankruptcy if you have retirement account and savings account?

Yes, you can file a Bankruptcy if you have a retirement account. Most retirement accounts are not considered to be part of the bankruptcy state, and are out of the creditors' reach. This includes traditional 401(ks), IRAs, government retirement accounts such as CalSTRS and more.

Can you keep your chequing account If you go bankkrupt?

Yes, if the bank holding the account allows it. When a person files for bankruptcy, depending on the type of bankruptcy you filed.

Can you include your negative checking account balance in bankruptcy?

Yes, you can include your negative checking account balance in a bankruptcy. Be aware that your account will be closed and this will ruin your credit with this bank and potentially other banks.

If you have an account that is showing negative and it was included in a bankruptcy can you have the negative account removed or does it stay there and count as two negatives?

The term negative is rather confusing. If the account did not have a balance it would not have been included in the bankruptcy. Any account included in a bankruptcy will remain on the report for the requred length of time, open accounts would be seven years, they will be marked included in bankruptcy. The BK accounts listing will remain for 10.

In bankruptcy can they get into your bank account?

This is why your claim bankruptcy. The automatic stay will stop judgment holders from issuing a levy on goods and chattels. Simply put, no. They can not levy an account from a debtor that is protected under the bankruptcy code.

If your ex-wife files for bankruptcy can you go after her for not paying on a joint account?

Not if the debt is discharged in the bankruptcy.

Can you change a joint bank account with a parent before chapter 7 bankruptcy in ny state?

Yes you can change a joint bank account before a Chapter 7 bankruptcy. You should have your finances in order before you file a bankruptcy.

If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?

The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.

What happens if you are in a credit counseling program and you cannot continue with payments due to slow job?

It would be best to meet with the person handling your account explain the problem and have the payment plan restructured.

Can you keep an account and not list it in a bankruptcy?