Should/can I keep my credit card?

[Neofree]

I have a $300 credit card, $79 annual fee but it's like 9% APR. It just got maxed out and charged a $80 late fee (UGH!). I just had a repo and have more debts and likely will BK whenever I can afford to (Never?)... Anyway should I keep this credit card? Should I try to pay it back down? Can I even keep it after a BK?

Thanks,

Neofree

[Phillymanhere]

Most likely, you won't be able to keep it. Once you file, your creditors will learn and they usually cancel credit cards. Sometimes apparently they don't do this, but the bigger card companies do--even if you owe 0 on your account.

But many of us here say you need not be worrying about credit cards if you're about to file for bk. Most folks could use a break for credit cards as credit cards are what got them in trouble. The goal is to start saving money and creating spending plans that include sporadic expenses like car repairs, appliances, etc.
Good luck.

[Cali]

Many of my cards show closed now and I haven't filed yet. They were closed once they found out I was filing BK and they talked to my attorney.

[southernbelle]

You can't pick and choose which creditors you want to keep. You have to list all of them. Even if you filed and were current with payments, the cc co. will probably still close the account anyway. I would focus more on how to rebuild credit after bk and how not to repeat the same things that got you here, because trust me I learned the hard way too.

[JRScott]

Even if you had a 0 balance it is unlikely that any major credit card would survive a bankruptcy.

[Neofree]

OK.. Sounds like I'll just let it be overlimit then. LOL

Thanks...