Close CCs myself?

[Anonymous]

I've got a large govt debt that is bankruptable.I have no other debts or assets, and meet the income threshold for bankruptcy. I do however have several CCs and LOCs with 0 balances, and an Equifax score of 815. 

I'd like to know if closing all my CCs and LOCs MYSELF would be better for the future, i.e. better score and higher chance of reapplying to some of the closed CCs after a few years or when bankruptcy is removed from credit reports (7 years) since it would state "accounts closed at consumer's request". The trustees offered to close them for me, but I said I'd do it myself for the reasons mentioned.

Also, looking at my Credit Report, I noticed some of the CC accounts have not submitted any inquiries to the agency in more than 2 years. Would it be wise to keep those accounts open but inactive in hopes they don't get auto closed when I file for bankruptcy so that I can use them again after discharge if successful?

[Anonymous]

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@Anonymous wrote:

I'd like to know if closing all my CCs and LOCs MYSELF would be better for the future, i.e. better score and higher chance of reapplying to some of the closed CCs after a few years or when bankruptcy is removed from credit reports (7 years) since it would state "accounts closed at consumer's request". The trustees offered to close them for me, but I said I'd do it myself for the reasons mentioned.

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This is the primary reason you should close the accounts yourself. Your score probably won't be impacted, but the notations on your accounts will show the accounts were closed by you. Then, the card issuer doesn't need to do anything with a bankruptcy notice either. 

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@Anonymous wrote:

Also, looking at my Credit Report, I noticed some of the CC accounts have not submitted any inquiries to the agency in more than 2 years. Would it be wise to keep those accounts open but inactive in hopes they don't get auto closed when I file for bankruptcy so that I can use them again after discharge if successful? 

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I'd try it -- just keep in mind you run the risk of the creditor finding out in the future and closing your accounts anyway. I've read this happened to people here on myFICO forums, though I can't speak to that personally.

[Anonymous]

Figured out why some CCs haven't reported in more than 2 years... they're using Trans Union exclusively when I was looking at Equifax only. They're also checking a lot more frequently (every month.) Anyway, I'm gonna leave everything open and have them automatically close the accounts. I saw a YouTube video where a trustee said Capitol One tends not to close accounts in good standing after a bankruptcy filing... we'll see what happens, but expecting everything else to close. As for the difference in score whether I close or they do, I don't think it'll make much of a difference.