Re: Zero Consumer Debt filing for Bk can I keep any of my 16 cards[ Edited ]
01-30-2013 01:20 PM - edited 01-30-2013 01:25 PM
If you know you are definately filing, then yes. Better to close them prior to filing since they have a zero balance. After your BK is successfully discharged you can contact the creditors again to see which one's will open back up.
I think you will have a tough time reaffirming credit cards in a BK at all - even with a zero balance.
Make sure you keep accurate records showing 1) each account and that it is a zero balance and 2) Closed by consumer by X date (prior to filing).
Naturally talk to your BK attorney about your plan. You have a much better chance of getting the tradeline back if you close it on your own before you file.
The problem with leaving it open, as I see it from my own BK experience, is that even though you owe nothing to the TL, it may be marked iib with zero balance and prevent you from reopening the line for a long time. I know that Chase has a blacklist as well as Amex. Don't take the chance for human error.
Remember, the notification from the BK court to the creditors is actually done automatically - there is a list emailed with the SS# and the name and if it matches the database, then the card is closed iib. Technically the BK court doesn't notify the creditors (except for the suggestion of BK filed on the debt) its a list that the major credit card companies buy of BK filings. That is why I made my suggestion. What do they say? No human involved (its all automatic) That could create a real issue for you.
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