Keeping CC With Chapter 7

[zeldadll]

[StaciMM]

There really is no easy answer. If you're filing BK however, what are your priorities? If you have the ability to pay cards off (I don't know from your post if that means a few dollars or a few hundred+) and you are concerned with the ability to use credit cards, what are the reasons you are filing BK?

The only thing I can answer w/ confidence is there are some creditors who will blacklist you if file BK on their accounts. I understand Citicard & Amex to be in this group. The subprime cards, however, may be more lenient.

[zeldadll]

Thanks for the reply

Best of luck on your pending matter Staci

I MUST PAY A LAWYER BY TODAY TO GET CHAP 7 IN BEFORE NEW LAWS ON OCT 17

I HAVE MAJOR BACK SURGERY PENDING OCT 17 AND WILL HAVE LONG RECOVERY (AND NO MONEY)

1.Denton County Tax
I have indication (from a letter sent by an arbitration company offering services) that I have been sued by NOB, LLC Can't find any info on them--even who they are on the net.

Cost of attorney $1,700

FOR BOTH OF THESE ISSUES (ABOVE & BELOW) AM I BETTER OFF PAYING THE TAX HOPING FOR THE BEST ON THE REMAINING CREDITOR FOR STATUTE OF LIMITATIONS AND PREVENTING A BANKRUPTCY ON MY CREDIT (HAS GONE FROM 520-600 CURRENTLY)

OR

DECLARING CHAPTER 7?

HELP FROM ANYONE GETS MANY THANK YOU!

2.Credit Card Debt from spouse sole name on accounts was me (she was not on them but used the cards without my knowing)
I settled with 3/4 of creditors until I was RIFed from my job
Remaining debt was more then 4yrs ago cept one--Citibank

I know the account was charged off in 5/2002 think the last regular payment was between 8/2001 and 1/2002 but I have no documentation as of now to show last payment made.

IS STATUTE FROM LAST PAYMENT OR THE CHARGE OFF DATE?
WHEN CONTESTING IF SUED WHAT WILL THE COURT REQUIRE OF ME TO SHOW THE DEBT WAS PAST THE STATUTE OF LIMITATIONS?

[zeldadll]

Staci--

Pending balance about $300

Cards are good for many things (Rent car etc)

Mostly a running credit -vs- BK and restablishing former is much better

[StaciMM]

Regarding the 3-4 year old creditors. SOL varies by state, and whether its written contract, verbal, etc. I really don't know much about that area. www.creditforums.com/forum might be better info on that.

Regarding the Denton County tax, has your attorney said it is something that can be discharged? Federal income tax is not too easy to discharge, I don't know about other taxes. You can also find out information at that forum regarding judgements, getting them vacated if you weren't served properly, etc.

[zeldadll]

SOL in TX is 4yrs

Attorney says yes ot can be discharged but I'm not sure that is really the case

[zeldadll]

I have posted this question on about 4 forums, I'm surprised no one has an answer to this. It seems a basic question.

Anyone know?

[StaciMM]

Its up to the individual credit card companies, so unfortunately no one can predict what they will do.

[zeldadll]

Thanks Staci

This is basicly what I found for anyone else out there looking for the answer to this


QUESTION: May I keep a credit card if I do not owe money on it?

ANSWER: If you do not owe a creditor any money, you don't list it in your petition, and the creditor will most likely allow you to keep the card. Sometimes though the creditor may learn of the bankruptcy and revoke the card.