For those who think their credit cards may survive bk....

[indebt00]

I got a letter today from BofA letting me know that due to my filing bk they would be closing my credit card.

it has zero balance, was not included in bk, and I personally had not listed any bofa cards in the bk...my DH did. so just the fact I filed got it closed.

oh...and it was a $500 credit rebuilder card.

just letting you know

[justbroke]

Yes, everyone should understand that in most cases, all your credit accounts will be closed. Most of the big banks subscribe to the Bankruptcy Noticing Center (or a Credit Reporting Agency that receives) and receive ALL Bankruptcy notices within 24-48 hours of filing.

No one should ever expect to keep any credit account after filing.

[oldhack]

Well, my trustee/district/local rules REQUIRED that I close all credit lines, and seek permission for future credit during my Chapter 13 plan, so I'm kinda amazed at folks who think they're even entitled to make that decision!
You're declaring BANKRUPTCY, for crying out loud!

[ccfriend]

I had a about 4 with 0 balance when I filed. Two sent me a letter closing the account and the other two have remained open over a year later. One is a Kohls....I use that for the discounts and then turn around and pay it off. (They have even given me MVC status...lol) The other is a Discover card which I recently used to buy plane tickets and paid off! According to my trustee I can accumulate $1500 of new debt without permission...

[Flamingo]

I got a letter today from BofA letting me know that due to my filing bk they would be closing my credit card.

it has zero balance, was not included in bk, and I personally had not listed any bofa cards in the bk...my DH did. so just the fact I filed got it closed.

oh...and it was a $500 credit rebuilder card.

just letting you know

This is a catch as catch can situation. Most zero balance at filing major cards will get closed very quickly or within a few months of filing BK. We had three with zero balances when we filed; our attorney advised us they were ours but that they will probably get closed out; one did (Home DePot) but two remained open and one I used on and off during our Chapter 13 (Dress Barn) to purchase work clothing; would make a small purchase and pay it off well before the due date. They even raised my credit limit and send me all sorts of coupons and discounts. I didn't use it for maybe 8 months or more and went to make a purchase with it last November for a Xmas present and the card was denied - when I called customer service when I got home I was advised it was due to "A BK on my records." This was over six years after filing. Goes to show you what can happen with zero balance cards surviving BK plus a creditor can cancel any card of yours at any time for any reason. Read the fine print included in the brochures/sheets that were included with your credit card when you opened the account and signed and agreed to the terms.

[sassiebaz]

I'm shocked that Discover did not close your account! This is policy, to close all accounts of BK filers. Wow....guess that's cool for you!

[indebt00]

Well, my trustee/district/local rules REQUIRED that I close all credit lines, and seek permission for future credit during my Chapter 13 plan, so I'm kinda amazed at folks who think they're even entitled to make that decision!
You're declaring BANKRUPTCY, for crying out loud!

I didn't think I was entitled to anything
and I have many credit accounts in good standing with zero balances that are not in my bk. I was not planning on doing anything with them. I am happy they are there to help rebuild my credit scores down the road.
I knew the big banks would close accts...I was just surprised that BofA was so quick to close my $500 credit rebuilder card.
I had no intention of using it, that is so not the point. but....it would be nice if any of the good accts survive my bk. of course I am looking to the future and rebuilding my credit.
we want to refinance our 1st in 5 yrs and get a good FIXED rate mortgage. we have a crummy arm.