Credit card question for chapter 7 filers.

[Michellemg]

Hello, everyone. I am wondering if you have to show your credit card statements for cards that you do not have a balance on when filing for chapter 7.

[IBroke]

Hello, everyone. I am wondering if you have to show your credit card statements for cards that you do not have a balance on when filing for chapter 7.

No, you don't because those accounts should be left out of the petition in the first place. $0 Balance = No debt = Not part of BK.
Unless you paid these former creditors more than $600 (each) in the previous 90 days before filing, you're fine.

[Fallonedward]

How many CC statements should you have in your possession at time of filing? If you do not have that number what can you do to get copies?

[tobee43]

How many CC statements should you have in your possession at time of filing? If you do not have that number what can you do to get copies?

you don't need them at all....just the account numbers and the correct addresses are needed.....you don't even have to put in amounts...you can put in the amount column..."unknown"....or even $1...it covers the entire account. i used unknown on many since late fees, etc., may not show up in either statements or current credit reports.

[chriselle]

you will not need credit card statements. all information on credit cards and money you owe are in your petition. What you might be more concerned are your BANK statements. those the trustee can request up to 2 years.

[Fallonedward]

If I currently only have 6 months worth of bank statements should I request 2 years worth now?

[tobee43]

If I currently only have 6 months worth of bank statements should I request 2 years worth now?

the petition generally required 6 months of bank statements not 2 years.

however, that does not mean if the trustee has a question you may need to supply more...but it would be highly unusual or never 2 years for bank statments unless there is a business or complex situation.

2 years for your 1040's is most common...(your tax returns)

[tcreegan]

Hi all,

Different districts and different trustees want different documents, you need to find out what is requested in your district. A call to the court clerk (or visit to the website) and you can find out what documents are requested in the filing. A call to the trustees office will give you the rest of the documents you are going to need. Some folks need very little (our district/trustee) some need everything including the kitchen sink.

Hopefully your district/trustee is as low-key as mine!

Tom in Colo

[IBroke]

My attorney asked for 3 months of bank statements. That was in the Florida Middle District.

[Fallonedward]

Tobee, thanks my situation is not complex. My only assets are my cars and house and I will be able to save those

the petition generally required 6 months of bank statements not 2 years.

however, that does not mean if the trustee has a question you may need to supply more...but it would be highly unusual or never 2 years for bank statments unless there is a business or complex situation.

2 years for your 1040's is most common...(your tax returns)

[LaurieM]

Your creditors, if they exercise due diligence in their lending practices, will run periodic credit reports on you. If/when they discover that you have filed bankruptcy, they will more than likely cancel your credit privileges, regardless of whether or not you have balances which are included in your bankruptcy. That's not to say that, post-filing, your mailbox won't be filled up with new credit cards offers, probably some even from the creditors who cancelled your credit... why? so they can charge you rates much higher than you were paying, because your having filed bankruptcy tells them you are a higher credit risk. A bankruptcy petition is meant to be a snapshot of your finances on the day you file - what you own, what you owe, what your current and six month historical income is and what your current expenses are. If you don't owe a given creditor on the date of filing, it would then make sense that this creditor wouldn't be listed on the bankruptcy document.

[tobee43]

Tobee, thanks my situation is not complex. My only assets are my cars and house and I will be able to save those

to is correct to say every district is different and in ever district every trustee is different.

while ibroke was only required 3 months of bank statements, someone i know in the exact same district was required 6 months!! go figure....and it's confusing.

you didn't say whether you are going pro se or not. however, unless your really up in the district and COUNTRY...by the way in florida is also changes county to county......it's best to seek an atty's advise to make certain all your little ducks are in a roll.

[tobee43]

Your creditors, if they exercise due diligence in their lending practices, will run periodic credit reports on you. If/when they discover that you have filed bankruptcy, they will more than likely cancel your credit privileges, regardless of whether or not you have balances which are included in your bankruptcy. That's not to say that, post-filing, your mailbox won't be filled up with new credit cards offers, probably some even from the creditors who cancelled your credit... why? so they can charge you rates much higher than you were paying, because your having filed bankruptcy tells them you are a higher credit risk. A bankruptcy petition is meant to be a snapshot of your finances on the day you file - what you own, what you owe, what your current and six month historical income is and what your current expenses are. If you don't owe a given creditor on the date of filing, it would then make sense that this creditor wouldn't be listed on the bankruptcy document.

laurie...i'm not certain where this fits into the OP's question......we all know or should how the banks rip you off with respect to raising interest or offering high interest credit cards.

as soon as 99.999999999% i would guess to say find out you had a bk they close your account, even tho you had zero balances and they were not listed on your petition at the time of filing. we had MORE zero balances than we did cards WITH balances. they were closed in a NY minutes once the discharge and order of no asset distribution was recorded.

those snapshot...incedentially...are usually so incorrect they should be illegal. even tho we had lived in the same house for 33 years they had our main address as somewhere we lived 35 years prior as our primary address. they listed mortgages we never had, they listed cc's we never had.

interesting point about listing a creditor NOT on your credit report...since most list creditors open and closed for the past 7-8 years....our atty wanted to list them ALL....i said NO WAY.....we have 42 pages of credit for our 40 year credit history....all perfect with the exception of our filing....why in the world would be list closed accounts???

i won that argument....i didn't want 42 pages submitted to the court...even on the closed accounts...it turned out to be 1.5 pages submitted,

[doni49]

those snapshot...incedentially...are usually so incorrect they should be illegal. even tho we had lived in the same house for 33 years they had our main address as somewhere we lived 35 years prior as our primary address. they listed mortgages we never had, they listed cc's we never had.

Tobee, it sounds like you're talking a about your credit report as being the "snapshot". When Laurie mentioned snapshot, she was referring to the BK petition.

[backtoschool]

Tobee, it sounds like you're talking a about your credit report as being the "snapshot". When Laurie mentioned snapshot, she was referring to the BK petition.

I think both Laurie and Tobee are correct. Banks will close down credit cards after you file, even if you do not include them in your filing because the card is 0 balance. Most banks due periodic account reviews and check your credit reports to see if there is any risky behavior they should be aware of, and when they see the bk filing, they will close the account. Tobee is right in saying that credit reports contain incorrect information most of the time.

If the OP's intent was to try to keep some cards out of bankruptcy, I would have to agree with Laurie that this most likely will not happen. The vast majority of creditors will close when they see a bk on the credit report.