Does it make a difference if the CC company closes account?

[katie]

I had a call from CitiFinancial about our credit card. This is the first month we have stopped making payments. I avoided the calls at first being so worried and finally answered and explained our situation to her and that we were going to see an attorney to possibly file BK. She was so nice and really understanding and gave me a phone number to a hardship department that might could do more than she could as far as waiving payments for a month or so, lowering or reducing fees, whatever. I didn't call the hardship department as I am 100% certain we will have to file and do not want to enter an agreement to pay with them that could hurt things with our BK. Anyway, she asked if it would matter if she closed our account. I wasn't sure what to tell her. We will not be using them anymore so it doesn't matter to me, but does it matter when we file?

I don't see how it could, but am just so nervous that I am going to mess something up.

[BigJohn]

It probably will effect your credit score and then it could trigger other creditors to raise their interest rates which will lower your score further.

[katie]

Oooh, thanks BigJohn. Didn't think of that.