Will NFCU...

[JourneyAhead]

Will NFCU cancel a $0 balance card if I file ch7 bk?

Anyone have any knowledge or first hand experience?

Thanks!

[DaBears]

All credit cards will need to be included when filing a chapter 7. so yes it will be closed.  Exclusion would be a auto loan and mortgage if you go that route.

[grassfeeder]

keep in mind that you'll have the opportunity to reopen an account with them given you've paid the balance of your account in full. Only thing you'll loose is the age of the account.

[SoulMaster]

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@DaBears wrote:

All credit cards will need to be included when filing a chapter 7. so yes it will be closed.  Exclusion would be a auto loan and mortgage if you go that route.

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All debt (including auto loans and mortgages) MUST be included in a chapter 7.  Some attorneys will leave off cards that have zero balances, but most won't.  In most cases, the BK schedules are auto-populated based on your credit reports.  Attorneys then correct the bad info before submitting and add info that isn't on your reports.

It will be up to Navy whether or not they close it once they're notified of the BK. If you have a zero-balance, you might be able to get it re-opened immediately after discharge.  It's up to them.  Regardless, don't use it from the date of filing through the date of discharge or you can get in serious trouble from the Trustee.

-SM