Credit Card not listed in filing

[AlreadyFiled]

I own 2 homes, one (from my divorce and prior marriage that I am surrendering in CH.7) and I had listed 2 credit cards on my bankruptcy but kept one card that I can afford to pay (use for emergencies and what not) my lawyer said sometimes they'll allow me to keep it or they'll close it but we have to wait and see. I have been using it for groceries and for my emergency vet bill (had no idea my dog was going to get parvo and i was in dire need of fast $ to save her life, she lives!!!). But also have been sending in payments as I get extra moneys to that credit card (to show that I am being responsible and not just trying to make monthly payment but more then monthly)

Should I stop using this card all together? but keep making my small payments to it as I get extra cash? Advice?

Thanks for your advice in advance.

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Filed October 14th, 2007
341 on Nov. 18'

[StartingOver08]

Any day now you will probably get a letter from the cc company telling you that the account is closed. They monitor the BK filings. Even when you have a zero balance and are not using the account they send out this letter. You really need to stop charging on the card. Tell your attorney that you have the extra card that is not on the schedules and that you have made payments to it before and after the filing.

[AlreadyFiled]

I hear you, I just don't understand how do you start over....especially when emergencies arise....

[Bandit]

I own 2 homes, one (from my divorce and prior marriage that I am surrendering in CH.7) and I had listed 2 credit cards on my bankruptcy but kept one card that I can afford to pay (use for emergencies and what not) my lawyer said sometimes they'll allow me to keep it or they'll close it but we have to wait and see. I have been using it for groceries and for my emergency vet bill (had no idea my dog was going to get parvo and i was in dire need of fast $ to save her life, she lives!!!). But also have been sending in payments as I get extra moneys to that credit card (to show that I am being responsible and not just trying to make monthly payment but more then monthly)

Should I stop using this card all together? but keep making my small payments to it as I get extra cash? Advice?

Thanks for your advice in advance.

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Filed October 14th, 2007
341 on Nov. 18'

If you had any debt on the card you are treating with prefered status, you are supposed to declare ALL debt in a BK, not pick & choose. Your attorney should have told you not to be charging more debt since you are going to file/or have filed. (especially when within a few months)

If the trustee sees that, then yes he can make a big deal out of it, hopefully the charges & payments aren't too big to make them question why you would not list ALL debt on your petition & why you would be creating more debt & paying one unsecured while filing a BK (emergenices don't count unless in a 13). That is the law, not that I agree with it because I don't, but it is still the law.

[Bandit]

I hear you, I just don't understand how do you start over....especially when emergencies arise....

Agreed.
I never actually agreed with the starting over, fresh start, & new start crap speech, because so many people end up right back in debt after the BK, over an emergency. It is more or less phraseology that people use but does not hold a lot of truth in it as far as I am concerned.

Then you will get the emergency fund savings speech and cash only speech. LOL!

Then of course there is reality, your own personal reality of your life.
You should still be better off after your BK even if you end up with another huge bill after/during discharge, at least that is the hope of the gamble. It sounds like you get stuck in one of the hoops we have to jump through and are trying to figure out how to get out of it

[AlreadyFiled]

i understand.
I'll stop using it and keep paying on it...
how does one build their credit after a bankruptcy if you can no longer have 1 credit card (even with a very low credit limit), what are your recommendations on rebuilding after a bk?

[PoorGrammyinBK7]

i understand.
I'll stop using it and keep paying on it...
how does one build their credit after a bankruptcy if you can no longer have 1 credit card (even with a very low credit limit), what are your recommendations on rebuilding after a bk?

You need to amend the schedule and list it if it had a balance at the time of filing.

[keepmine]

You need to focus first, on fixing the issues that caused the bk. That means, learning to live on a budget that leans heavily towards living below your means, and actually saving money for use in an emergency. Don't depend on a cc right now. Work 2 jobs if you have too but, get your life on a sound financial footing.
MAny of us that filed several years ago had no problems getting unsecured cc cards with no fees 6 months or so post discharge. Now, with the credit crisis, it'll be harder for people with checkered credit histories to obtain unsecured credit.

[AlreadyFiled]

Ok, very good advice. Thank you, will do.
I just emailed my lawyer and asked him for advice and what to do next.
Thanks you guys.

[philslyn]

lol that's bad! When u file Bk u list all your credit cards. it doesnt matter if its an outstanding credit. or even if u only owe a dollar on it. Usually what happen is that one doesnt get dishcharge, and u end up paying it. But your case might be dismissed otherwise as they said creditors will close it. When u file Bk it means u cant make payment. why continue paying? and why use a card? u should use anything 60 days before filing.

[AlreadyFiled]

attorney emailed me back and said most of the time creditors will close all cards even with a zero balance this one must have slipped through the cracks, but also told me to stop using it as of now. I can afford 1 credit card payment, I can't afford 3. (everything filed was from a divorce, i was married to a gambler and was left with the house and to raise 2 kids alone as he skipped town to move to a major gambling city) I do know how to manage money, but its not easy to manage money you didnt spend but a compulsive gambler did which lead me to the bk.
Anyway, thanks for your advice, helps me a ton!

[WoodSprite]

I can afford 1 credit card payment, I can't afford 3. (everything filed was from a divorce, i was married to a gambler and was left with the house and to raise 2 kids alone as he skipped town to move to a major gambling city) I do know how to manage money, but its not easy to manage money you didnt spend but a compulsive gambler did which lead me to the bk.

So sorry to hear a bit of your story, AF. Congratulations on having the courage to make a really hard choice that will give you and your kids a chance to start over without that horrible weight around your neck. You're doing the right thing. But you knew that.

I think most of us who didn't have a gambling spouse, or crushing medical bills, or some other major crisis would agree that if we'd had a little emergency fund to draw from, rather than using credit cards, we might not have ended up on this wonderful forum.

Of course, nobody's got a crystal ball, and anything can happen. Obviously Parvo is not one of the things you'd ever expect (and I'm happy to hear the pooch is okay!). But you can pretty much count on SOMETHING happening that isn't provided for in the monthly budget, and at this point, before you've filed, you can't be socking away any "extra" funds, so it's a confusing place to be. What to do?

If your lawyer is already paid, then I'd take the money you've been using to pay that card and sink it into preventative maintenance. On the house, if you're keeping it - how's the hot water tank? The kids - anybody need glasses or dental work? The car - is it making funny noises you've been ignoring, or does it need new tires? FOOD. Non-perishables, bulk sacks of rice, etc. These are all allowable expenses, and could even possibly help prevent more expensive emergencies. If nothing else, a pantry full of tuna, canned tomatoes, soups, and dry goods will ease your budget and your mind while you're trying to scrape up that emergency fund.

Don't get me wrong - you're probably going to be cutting it uncomfortably close for an uncomfortably long time. But it will all be worth it when that debt goes away and your life is your own again.

Good luck.

[AlreadyFiled]

Thank you very much WoodSprite for your response. I will take definate mental note of what you just wrote, I surrendured my home that I had with my ex-husband in this bk (along with 2 minor credit cards, i dont think I would have qualified if I wasn't surrenduring the house) I purchased a new home before I filed for bankruptcy and rented the last home out for a good year and a half / until I could no longer take care of it on my own.. I am a single mom of 2 so a fresh start since my divorce is key for me. I can afford my current house payment and car payment but will gladly survive of mac n cheese and tuna until I can get that extra cash on my side.

Im ready for a new start...

After bankruptcy, I don't see a problem with anyone having 1 credit card for reserving a hotel or a rental car, things like that.... I am looking forward to more cash on hand and less plastic.

Soon enough...

I filed on Oct 14
341 on 11/18...... coming up!