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When to close cc before BK and when can I reapp?

When to close cc before BK and when can I reapp?

Hello

 

 

So those of you that know my situation.

 

I have 19 personal credit cards with 105,000 total credit line with 0 debt on any of them.

Credit score is 620 due to American express collection and Tmobile. (730 prior to collections)

 

I personally guarenteed an American express card and merchant account for a company which went under thus 100% of my filing BK 7 is due to business failure.

 

I am going to take everyones advice to close my credit card accounts prior to filing BK which is on May 10th. My question is when do I close them? Right now or May 1st?

 

So lets pertend I file on May 10th, when would an appripriate time to try to re app with any of my credit cards be. 1 the day after I file bk or when I am discharged?

 

thank you

Message 1 of 4
3 REPLIES
Regular Contributor

Re: When to close cc before BK and when can I reapp?

It's always best to reapp after your discharge takes place. 

Message 2 of 4

Re: When to close cc before BK and when can I reapp?

that reply helps, thank you. Should I cancel all my credit cards now or May 1st. Anyone have any advice?

Message 3 of 4
Highlighted
Moderator

Re: When to close cc before BK and when can I reapp?

I would close them now. No need to keep them open if you are filing May 1st. Make sure they say "closed by consumer" and show a zero balance.

Message 4 of 4