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If you have credit accounts in good standing then do not include them in your bankruptcy.

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โˆ™ 2005-11-18 08:45:16
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Q: If you file bankruptcy but still have some credit cards with a zero balance on them will you still be able to keep them or will they automatically be closed?
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Related questions

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.

Do you have to list credit cards with a zero balance in a bankruptcy?


What happens to credit cards in a bankruptcy when there is a zero balance?

it does not work

After seven years when debts from a bankruptcy are removed from the credit portion of your credit report will the bankruptcy still reported in the public record portion affect your credit status?

bankrupcires stay on for 10 yrs. But when you gfinalize the bankruptcy the debts are automatically removed anyways.

Can you get a secured credit card with a bankruptcy on your credit record?

Yes. You are not really getting credit-it draws from your balance like an atm.

If a credit card is discharged in a bankruptcy should it still show a balance on a credit report?

It will remain on the report for the required length of time and should be marked "included in bankruptcy."

Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?

"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."

Can you get an account on your credit report to say closed after bankruptcy?

shut the fu ck up.

When a creditor is paid-off through a Chapter 13 Bankruptcy is the creditors information automatically removed from your credit history?

No. Sometimes it will be reported as "Included in Bankruptcy"

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

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.

How do you know if your bankruptcy is discharged on your credit report?

Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.

How do credit entries appear on your credit report after a chapter 7 is discharged and do they disappear from the report or show as 0 balance and indicate their inclusion in a bankruptcy?

The still stay on your credit report the normal length of time for negative credit entries (7 years). After the discharge, they might still show a balance but should also make not of being included in the bankruptcy.

Can credit card companies sue you after or during bankruptcy?

Not likely. They can come to collect if you have a balance but sue you why?

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.

Can you transfer a balance on a closed credit account?

No, However it may be possible to pay off your debt with a credit card.

How does one build up credit after bankruptcy?

You can build up credit after bankruptcy by opening up a new checking and savings account. Another good way to build up credit is to make sure you pay off your balance every month and get a secured credit card.

How can one improve their credit after bankruptcy?

The period of time after bankruptcy is like starting over in the credit world. You need to act squeeze clean. Get a new card and pay your bills on time paying the full balance.

Will bankruptcy automatically fall off credit score and when?

Bankruptcy should be removed after 6-7 years from discharge, if you have another bankruptcy within 6-7 years, it will take longer to remove or could be permanently on your file

How does bankruptcy affect your credit ratings?

Bankruptcy lowers your credit report.

Why is the bankruptcy still on your credit after 10 years?

Its permanent its just that after 3 you can apply for an early release and after 7 you are automatically released.

Which it's better closing a credit card with a balance or pay the balance first to closed?

It's better to pay off the balance and keep it open. It proves that you are competent enough to keep a credit card and not get into trouble with it. It will also increase your credit score.

Can a credit card company report a 30 day late on a closed account that still has a balance?

If a credit card is closed it cannot have a balance. Just because you have stopped using the ard you cannot declare the account closed. If you owe even one penny, the account is open and the credit card company can 'report a 30 day late'

If a bankruptcy was discharged in 1993 does it automatically come off of your credit report and how long after What if it's still on your report?

Bankruptcy can stay on your credit report for up to 10 years. If you obtain the credit report directly from the credit reporting agency (ie. Equifax, Transunion, Experion) the report will provide you with directions on how to dispute the information.

Will a closed credit card account receive notice of a bankruptcy filing?

Only those creditors you list on your bankruptcy schedules / creditor matrix (list) will receive actual notice.

When consolidating credit cards is it better to wait until they have zero balances then the credit report will say Closed For Consolidation NOT just Closed By Individual?

Remember if you closed these credit cards, your credit score will take a big hit! Its best to just keep the balance open but don't use the cards anymore.