Credit card question

[needachance]

We have 5 credit cards. 3 have high balances, one has a low balance, one we zero balance every month. The 4 that have balances we are including in the BK. The one that we zero balance is what we use for gas etc and is the only one we have used in years. When we file, will that one get closed as well? We are opening new checking accounts anyway so we will have debits but we do like the "convenience" of the card and are using it appropriately but just wondering what happens when we file. TIA.

[Amy26]

Yes it will be closed. I haven't even had my 341 meeting yet and my zero balance cards were closed.

[ela805]

Yes, you can't pick and choose what to include. It's all or nothing from what my attorney told me.

[mynextlife]

We filed on a Friday 6/26/09 and by Monday 6/29/09 my credit card accounts were closed...the ones in good standing AND the ones with zero balances. Our atty advised us ALL of our creditors would be notified...basically all or nothing. The trustee would not allow you to keep the "good" cards and BK the rest as it would look as if preferential treatment was given.

[MrSmithster]

i had one of my zero bal cards(cap one) noitify me about 2 wks after my 341 that my credit limit was being reduced to $500 and interest rate was going up to 30%, but when i went online to view the acct info, it shows "acct on hold, contact customer service". im not calling till after my discharge. my zero bal PEP BOYS cc still seems to show its active when i view the online acct info, but im not about to use it. i didnt list any of my cards with zero bal so maybe they just havent gotten around to it yet

[Amy26]

I didn't list my bank of america card that had a zero balance either but somehow they found out about the bankruptcy. I didn't have any other accounts with them so they were not listed on my petition.

I think they have some bankruptcy database that they check periodically.

[music12]

most of my cc's, even those with zero balances that haven't been used in years, were closed a few days after filing. a couple survived so far but i fully expect they will be closed soon as well.

[StartingOver08]

I didn't list my bank of america card that had a zero balance either but somehow they found out about the bankruptcy. I didn't have any other accounts with them so they were not listed on my petition.

I think they have some bankruptcy database that they check periodically.

Yes, there are services that specialize in automatic daily notification of bankruptcy filings, discharges, dismissals, and more. Here is a link to one such service that is marketed to the creditors, its an interesting read from the 'other side': http://risk.lexisnexis.com/literatur...s_brochure.pdf

[AshShep01]

Same here, a card I plan on keeping with didn't inlcude in BK.. the found out about my BK and close the account out. Wouldn't even talk to me over the phone lol

[Amy26]

Ok here's a loop for you all.... I mentioned earlier that my bank of america closed my credit card. Well, the reason I thought this is they removed it from my online account access.

I just got home from work and there was a letter in the mail from bank of america. I thought it was a letter saying they closed the credit card.... but to my surprise.... it was them telling me I CAN KEEP IT! The limit was 6,000 before and they said that they were lowering the limit to 500 dollars and would keep the account open with its current terms and conditions. It would remain open as long as I made payments on time.

Has anybody ever seen a credit card make it through like this? I'm absolutely happy about this because it solves my after bk "how long can I wait to get a credit card again" problems...

Who knew? :o

[relief13035]

We had NOTHING that made it through the bk.

[Proxy]

Hmm..would a credit card I have from a European country (Mastercard) be affected ? I opened it in April 2009 .I have residency status in that country and a bank account there.The card has never been used. MC and Visa are worldwide companies, so i guess the records for the CC can be linked somewhere, but in the last 4 years, this foreign bank account has never made an appearance in my US Credit reports, since that country's credit reporting system is different from the US. The foreign acct and CC don't have my US social on it too.

I wonder if I file in August, that CC card too will be closed?? It is tied to that foreign bank account.I live part of the time in that country and was hoping that I'd have at least one CC left to use for emergencies after I file Ch 7.

Anyone can give their input as to this scenario?(regular bank account,not offshore account, I dont have wealth stashed away in a tax haven)

[newbeg]

One of mine for sure got closed, I even have balance on it around $250, that I am going to pay. Strange that my 3 other chase are still active, I filed 2 of my chase (have total of 5) in my BK paperwork, those are removed from my account and now closed but the other 3 are still in my online account and active.

[whipster1]

Amy 26: Amazing...I guess they realize with no other debt you may be a good risk. I wonder if they keep your card open without interruption so that you show an open credit line with some time behind it. Congrats.

[cupcake]

I had four zero balance cards at the time of filing and so far, they've all survived. Three are department store cards (Nordstrom, Neiman Marcus and QVC) and one is actually a Visa that came from Macy's. ALL of them lowered the credit limits to $100 except the Visa, which was lowered to $500.

Also, I should note that I am expecting my discharge ANY day. I am almost a month past the 60-day mark and my trustee filed his report of no distribution two weeks ago.