Keeping One Credit Card

[marko56]

Hi,
I plan to file chap 7 in another month or so and was wondering if I could exclude from reporting on one card with a low balance in order to maintain it.
What is the likleyhood of the credit card company cancelling me after I file even though I won't report it and will continue to make payments?
Thanks

[mmcconn2]

if you have a card with a balance it must be disclosed on your BK petition, and most likely the credit card company will freeze the account once they are notified you are filing BK. Thats not to say they will not let you reafirm that account. The best thing would be to try and pay off that balance before you file. Good Luck

[HHM]

Although you are legally required to list all creditors and will be asked, under oath, if you have listed all creditors, its not uncommon to leave off a credit card here and there. However, when you say a small balance, how small?

Also, as mmcconn2 pointed it, its also not uncommon for credit card companies to leave your account open after BK. If its only a small balance, you might as well list it because its not a big loss, the CC company will likely keep the account open because they can charge you more in interest.

[marko56]

[QUOTE=HHM]Although you are legally required to list all creditors and will be asked, under oath, if you have listed all creditors, its not uncommon to leave off a credit card here and there. However, when you say a small balance, how small?

About $1,560. I probably can't pay the balance off. Could I call the issuer and tell them what I plan to do and see if they'll let me pay off?