We have our CC debt, and all are maxed out. We aren't able to pay for them right now. Should be we cancel them before we file, or just leave them alone? Any difference one way or another?
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They don't want to cancel as you still owed them much!?
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No difference, but just leave them alone. When the creditor gets notice of your filing, they'll close the account anyways.Originally posted by CurtInKS View PostBankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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This is something I learned the hard way:
if you have any bonus points from reward programs use them before you file, otherwise you will lose them when the account is closed.
regards,
emoneyComment
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I've read on some Credit Forums that supposedly, it looks better if the acct says, "Closed by Customer".
Honestly, it's not gonna make a huge difference. You're filing BK and that's one of maybe 2 of the biggest negatives you can have on your Credit. The other being Foreclosure.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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I think one more aspect is that if you close your accounts now, it will begin to 'age' earlier, so the negative score impact will hit sooner than later and improve faster once you are discharged.Originally posted by SinkingFast View Post
If you're going to do it, I would only close the accounts you owe money on, that are being included in the bk. If you have any accounts in good standing with zer0 balances that you owe nothing on, leave them alone and hope some of them survive the bk.Comment
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I would think if you close your cc, it would draw more suspicion about looming bk, or does that not matter?
One time, I actually had to argue to close an account that was inactive since 1988! I didn't even know I had the card!
I just hate dealing with those people. I haven't had much good luck with people who seem to know what they are supposed to do in terms of "customer support".Comment
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