Maybe a stupid Question, but.....

[SinkingFast]

If you go into 13, and you're not supposed to charge anything/buy anything on credit,.......... What about store accounts?? I have 2 store accts with small lines of credit. Good only at those stores. Not like I can buy gasoline or airline tickets or anything. One is a dept store with a $500 LOC, and the other is a wholesale club with a $1500 LOC. Both LOC's get used a couple times a year and paid off immediately when the bill comes just to keep the LOC active.

Will I be allowed to keep those LOC's? Or do I even have to tell the Court they exist?? Or will they find it on my credit report. Attnys are requesting credit reports before filing a case now. Any idea how store cards are handled in a 13???

[bkfiler]

good question. while waiting for someone that knows i would say that you are responsible for it and unless it turns into a problem the trustee isnt going to care.

if they were to somehow find out you have extra money then they would want to now. but they do realize that you dont spend every penny you stated on your application on thet exact items.

[Minnymouth]

Since the LOC are not listed in your petition and you owe them nothing right now....... they will not be discharged in your bankruptcy.

Any debt you incur with them is YOUR DEBT NOW....

Also if the Trustee finds out about them (possible thru credit report) he may ASK ABOUT THEM.... if so.... just let him know you owed them nothing, so no reason to list them......

Just be carefull about charging on them and running the balance up high, especially if they report to the credit bureau also....

Of course if the Trustee finds out about them, he's gonna want to know where your going to get the money to pay this creditor on the "side"? When all your disposable income is supposed to be going into your Chapter 13....

A word of caution - CAREFUL!!

[bkfiler]

so a Vicotria Secrets bill of $2,750 paid in full each month during the chap 13 payment plan is gonna make the trustee wonder about my 'dressing' and photo sales habits?

[SinkingFast]

We buys clothes, towels, linens, sometimes at the Dept Store. At the wholesale club, we buy laundry products, trash bags, some food items, industrial size quantities for a lower/unit price. The wholesale club has the cheapest price in town for milk. Neither of the store purchases are stuff we wouldn't normally buy anyway. Usually when I shop either place, I write a check or pay cash anyway. The wholesale club doesn't even take CC's. Just debits and their own LOC. So, couple times each year, instead of paying for the purchase, I'll charge on the LOC and pay the bill when it arrives just to keep each acct active. Those monies are accounted for in the food and clothing budget allowances we've itemized anyway.

Daughters have to pay their own way at Victoria's Secret!!