Credit card that was in the business

[crazyinaz]

We have 2 credit cards that were on the business name (we are guarantor since we are in LLC) that we did not include in the payment plan since I did not see them appeared on our credit history. A few days after we filed, I could no longer access the credit cards and they informed me that they were closed since we filed bankruptcy. They found out because my wife's personal credit card issued by the bank was the same bank that the 2 biz credit cards were on.

The question is, since this will now be closed, and I assume that they will also file for payments, will this change the payment plan? Or will this be a basis for dismissal? I asked because we will have a 341 meeting 20 days from now.

[DebtEnder]

I would amend your plan to include all debt that you personally guarantee.

[lrprn]

I would amend your plan to include all debt that you personally guarantee.

DebtEnder has it right.

Call your lawyer and make sure he/she adds these overlooked creditors well before your 341 meeting. It costs $26 (I think) plus depending on your lawyer you may have to pay extra for his/her time to accomplish updating your creditor's list and refiling the amended plan with the court. Also it *might* push your confirmation a bit because these new creditors now have to be notified by the court about your filing and allowed time to file claims if they choose to do so.

It's great that you caught this oversight now. Catching it after the 341 (or even worse, after confirmation), makes things more complicated.

[frogger]

Did you leave them off on purpose, or did you really forget that you owed them money? Curious minds just want to know.....

[andy158]

I had a buisness card that was in my buisness name and undersigned with my personal name. Lawyer said to include it in the filing, but it may not be covered. They may make claim on the buisness assets. So far they have made a claim under my name and all is good.