Open Accts

[Anonymous]

Does anyone know if the courts close your accts or are you responisble for doing that? What about the cards that have a -0- balance that have avaiable credit?

[rizeninme]

No, the courts do not close any accounts. Any card/account with a $0 balance would not be affected by BK and especially if it was paid and is in good standing, that positive mark will stay on your credit report. Only accounts that have outstanding balances are included, and most creditors will close your account once they are notified by the court.

I'm not sure about $0 balance accounts with available credit- I know that most CC co's check your credit before raising your limit, and they may close the account if they see BK on your file, but I'm not sure.

Message Edited by rizeninme on 02-04-2008 07:50 PM

[granny031350]

however many cards even with zero balance get closed once they sniff that you have filed bk

[Anonymous]

most CC will close you if you are in a chapter 13 because very few people complete their bankruptcies...usually they screw up and get behind on their payments and then it gets converted....BIG MESS! They are afraid you will throw them in at the last minute. Here is where I really urge people to have the payments taken out of your paycheck...but of course then your employer knows. I had plenty of company at my job so it was not a big deal..