Using new cards just before filing.

[justbroke]

I've recently applied for some new cards (walmart, bestbuy,macys) who have issuers that I will not be discharging. My hope is the more zero balance cards I have the more likely I will be able to keep some of them. So I've just got these cards and I really should use them so they don't cancel the accounts which is what they will do if I don't try to use them for a few months. Macys did this to me a few months ago.

You will need to list all your creditors on your petition. It's a 99.99% chance that all your accounts will be closed because of the Bankruptcy, regardless of whether you listed the account or not.

Since you know that you are insolvent, and visiting bankruptcy forums and may have even talked to a BK attorney, you shouldn't even be thinking of using a credit card.

So is it alright to charge say $10 ea, pay it and not list them when filing since they would be paid off and the preference payment is only $10??? Is that legal? Would trustee find out or care? I'm just trying to have as many tools as possible for when I rebuild my credit.

I am just going to say this flat out. No. It is not okay. While it's only $10 and not "that much", I take the path of least resistance.

It reads like you just want to charge in order to keep the cards. You need to think differently. You are filing bankruptcy. Don't worry about cards. You'll probably lose them all anyhow.

If it's credit that got you into this mess... why would you perpetuate it?

[mike258]

As long as the account has a zero balance on the day you file, you do not have to list it on your petition.

You are filing bankruptcy. Why do you want to keep any credit cards? My advice...get through bk first, rebuild after discharge. Once you are discharged, you can easily open up a secured mastercard at a credit union to help you rebuild. That's all you need. A year after discharge, get an unsecured account or two.


Do not expect ANY account to survive bk...ones that do are few and far between...and usually get closed when the issuer does an account review and sees that you filed for bk. Check the card agreement from any issuer. Every single one says that you are in default if you file for bankruptcy...whether you include them, or not.

[mamaluv]

More than likely they will find out about your BK and close them anyway....regardless of having a 0 balance. I had quite a few 0 balance cards...none of them survived.

[BBW]

First I want to say I'm sorry for posting so many questions in such a short period of time. But as I learn more I will do my part to give back my answering others questions.

I've recently applied for some new cards (walmart, bestbuy,macys) who have issuers that I will not be discharging. My hope is the more zero balance cards I have the more likely I will be able to keep some of them. So I've just got these cards and I really should use them so they don't cancel the accounts which is what they will do if I don't try to use them for a few months. Macys did this to me a few months ago.

So is it alright to charge say $10 ea, pay it and not list them when filing since they would be paid off and the preference payment is only $10??? Is that legal? Would trustee find out or care? I'm just trying to have as many tools as possible for when I rebuild my credit.