Keeping certain cards?

[D0WNAND0UT]

I am approaching chapter 7 at warp speed. My question is can I stop paying credit cards and put all I can on one particular card to clear it off and use it through my bk period for gas etc. I am from the UK I might need the card for any family emergency over there as they won't accept cash for an international flight or car rental.

[OhioFiler]

Won't work. You'll be wasting your money.

[killinstinct]

Nope, kiss those cards goodbye.

[frogger]

Nope.

[AngelinaCat]

Not only would you be wasting your money trying to pay off the one card, paying that ONE card and not the others will be treated as a 'Prefferential Payment', and that will open up another can of worms. You pay toward ALL the cards, or none at all.

Now that you have decided you are going to file, stop paying all cards now and save that money for a good attorney.

[backtoschool]

Once you file all your cards will be gone. Plus the trustee will claw back the extra payments to the one card as preferential payments if they happen 90 days before your bankruptcy.

[Chowder]

Many here have had some cards survive discharge. I've got about 5 that are still open in good standing.

[AngelinaCat]

Many here have had some cards survive discharge. I've got about 5 that are still open in good standing.

Yet others of us have not. We opened a small store card after our 341, and were approved. We purchased our item and left the store. When we went to make the payment, there was no record of our account at all. It turned out that the store card was owned by a large parent company that we included in BK. So that wiped out the store card. No one would take payment on our item, nor could we return it. So, some company's poor bookkeeping practices cost them a little.

I do NOT recommend trying this.

[Chowder]

Yet others of us have not. We opened a small store card after our 341, and were approved. We purchased our item and left the store. When we went to make the payment, there was no record of our account at all. It turned out that the store card was owned by a large parent company that we included in BK. So that wiped out the store card. No one would take payment on our item, nor could we return it. So, some company's poor bookkeeping practices cost them a little.

I do NOT recommend trying this.

I certainly would not recommend what you did at all.

I have no idea why my cards survived. They have a substantial use history, but had zero balances well before filing and discharge.

[AngelinaCat]

I certainly would not recommend what you did at all.

This was one of those little details that our attorney neglected in our BK education.

[OnTheRocks]

My lawyer told me all cards would disappear after BK, even if paid off, and that PP could be invoked. However in the NOLO book it says that if paid off they aren't a creditor anymore and don't need to be listed. Now some one I know filed a few years and paid off a couple cards, didn't list them as creditors, and they survived the BK.

Thoughts on this please? BTW I have no plans on paying off any cards.

[backtoschool]

My lawyer told me all cards would disappear after BK, even if paid off, and that PP could be invoked. However in the NOLO book it says that if paid off they aren't a creditor anymore and don't need to be listed. Now some one I know filed a few years and paid off a couple cards, didn't list them as creditors, and they survived the BK.

Thoughts on this please? BTW I have no plans on paying off any cards.

Most creditors pull your credit report periodically for account review. (it usually is a soft pull, not a hard pull that shows up as an inquiry, but still they see the whole report). Once they see the bankruptcy on the report they will most likely close the card. Another way that creditors find out if you have a bankruptcy, is that they subscribe to services from the credit bureaus that notify them of all bankruptcies filed in accounts of theirs. Either way, once they find out they will most likely close the cards.

[2manybills]

I've had one card survive. It was a card that our credit union gave us when we opened our account. It has a 5K credit limit. Don't use it hardly. I have put gas on it and then paid for it before I even got a statement and that's only been in the last couple of weeks or so. All of our gas cards that had zero balances were turned off as soon as we filed.

[kenshirley]

Did anyone catch the fact that this person is in the UK. Aren't they?
I personally don't know what they can or can't do over there.

[AngelinaCat]

Did anyone catch the fact that this person is in the UK. Aren't they?
I personally don't know what they can or can't do over there.

I took the wording to mean that the person is originally from the UK and is living/working here. But that there is family still over there, hence the possibility of a family problem necessitating a flight back.