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Hello,
I'm gonna be filing for bankruptcy here soon.
I've got 3 chase cards. total balances are ~$7000. I'm doing BK7 and I want to know if there's a way i can keep those cards and not include them in the BK. I'd like to keep them open and not get on the blacklist because they have been the best bank i've ever used. So is there a way to exclude them from BK, and even if i do, will they see the BK on my report and close me down anyways?
how will this affect my ability to get back in with them post BK?
Thanks
@Anonymous wrote:Hello,
I'm gonna be filing for bankruptcy here soon.
I've got 3 chase cards. total balances are ~$7000. I'm doing BK7 and I want to know if there's a way i can keep those cards and not include them in the BK. I'd like to keep them open and not get on the blacklist because they have been the best bank i've ever used. So is there a way to exclude them from BK, and even if i do, will they see the BK on my report and close me down anyways?
how will this affect my ability to get back in with them post BK?
Thanks
Sorry to hear about the BK. As long as they are not burned, you will be able to get back in with them after a few years post BK. Some people have reported getting back in with them after a year of BK. All the best...
@Anonymous wrote:Hello,
I'm gonna be filing for bankruptcy here soon.
I've got 3 chase cards. total balances are ~$7000. I'm doing BK7 and I want to know if there's a way i can keep those cards and not include them in the BK. I'd like to keep them open and not get on the blacklist because they have been the best bank i've ever used. So is there a way to exclude them from BK, and even if i do, will they see the BK on my report and close me down anyways?
how will this affect my ability to get back in with them post BK?
Thanks
Short Answer: NO
Long answer: You can pay them off and close them and wait 3 months and then file. I would not try to keep anything open, and if it has balances you CANT keep it out of BK.
@Anonymous wrote:Hello,
I'm gonna be filing for bankruptcy here soon.
I've got 3 chase cards. total balances are ~$7000. I'm doing BK7 and I want to know if there's a way i can keep those cards and not include them in the BK. I'd like to keep them open and not get on the blacklist because they have been the best bank i've ever used. So is there a way to exclude them from BK, and even if i do, will they see the BK on my report and close me down anyways?
how will this affect my ability to get back in with them post BK?
Thanks
There are much better uses for $7k than worrying about your relationship with Chase. There are other banks
As others have said, you can not pick and choose which accounts to put in your Bk - they all have to go on the petition unless they are zero balance. Even if they are zero balance the creditor is going to close the account. Every once in a while we see someone that has posted an account with a zero balance slipped through the Bk and wasn't closed, but it is rare and uncertain.
Those with balances will be closed.
If you want to keep a good relationship on your zero balance accounts, close them prior to filing then they won't have the IIB notation after you file (this is a good thing)
If you are going to file, you do have to be aware of preferential payments. Here is a little link explaining what they are: http://www.nolo.com/legal-encyclopedia/pre-bankruptcy-payments-creditors-can-the-trustee-get-the-mon...
I burned Chase in my Bk (for much more than $7k) and they told me not to apply for 10 years after my discharge.
My current FICO scores are in the low to mid 700's (depending upon my utilization at the time) so I really don't mind not having Chase for 10 years. But it is a long time....
EDIT: This only applies to Chase cc's. It does not apply to Chase auto loans or mortgages.
Very good advice in the thread so far. Heed it and all will be well. Good luck.