Can I keep one credit card?

[Danielle1981]

I have a low limit Orchard bank card ($300) I've never charged anything on it so it's not included in bankruptcy....but do you guys think they'll let me keep it to rebuild credit on it or do you think they'll cancel it? I mean I'm declaring bankruptcy but not on them and I intend to use it and pay it off every single month.

[Minnymouth]

Orchard bank is bankruptcy friendly.... they just might let you keep it open since you are not filing on them......

If you don't owe them anything, I wouldn't even list it.............. you have no debt with them..........

[Danielle1981]

I didn't list them at all because I applied for it expecting not to get approved but they approved me for $300. I knew I was filling bankruptcy so I decided not to put anything on it until after I get a discharge. Although I did pay them I think an annual fee of $59.00.

[Danielle1981]

I'm also keeping my sprint cell phone since I've had it for 5 years and have never had a late payment with them and I'm keeping my car. I know the car won't mind because I talked to Ford and they said just to include it in things I'm reaffirming and stay current on the payments. I'm hoping Sprint won't cancel me or ask for an outraggeous deposit. I doubt it because that is the one thing that is current (it's my only phone).

[Danielle1981]

Oh well....I mean what can I do? Maybe I should just go for a secured card if they close it. Gee....I was hoping they would let me keep it.

As for the interest.....they are paid in full every month so far. So they don't collect interest from me.

[Danielle1981]

I'm really actually kind of sad now. How am I ever going to re-establish credit? I mean I have student loans and those are current and paid ahead....my car is paid up but I have like 1 payment left after the discharge. Doubt one payment is going to help my case. And nothing else....well utilities, phone, and cable that is always up to date.

[Danielle1981]

I went to look for secured cards and it doesn't look like there's a lot out there. Wells Fargo has one but you have to be one year out of bankruptcy. Maybe I should try an auto loan since my car is about ready to go to the big car heaven.

[pink_amulet]

I'm really actually kind of sad now. How am I ever going to re-establish credit? I mean I have student loans and those are current and paid ahead....my car is paid up but I have like 1 payment left after the discharge. Doubt one payment is going to help my case. And nothing else....well utilities, phone, and cable that is always up to date.

Since you have no balance...you DO NOT have to include it on your BK!!!!
They may close it, on their side, due to the BK, but DO NOT OFFER them the chance, by added them to your BK!!

Let it slide by, and maybe you will be fine....worse case they do close it.. Since there is no balance, there will be no "bad blood" between you!
So if they do cancel it..... since you were in good standing.... A. see if you can reopened the account or B. apply for a new account once you are discharged.

Good luck....
Don't get discourged !!

[AMISLANDER]

Right on...

I did not include my Dillard's card with my ch. 7...it had no balance...I have used it since discharge & am paying a little bit to build up some kind of credit and there is no problem.

[AMISLANDER]

Wow!!!!

you're lucky AMIS -- all of my Zero credit cards cancelled me, including Exxon, Macy's, Home Depot & JC Penney. Didn't owe them a penny and they were never named in the BK.

So how do they figure out to close you out when the cards aren't included???

I guess I got lucky on one thing...

[Danielle1981]

I think that is the one company I didn't have business with was HSBC. Oh well.....Kind of sad cause I just finished paying $59 for it and it's been less than a month!

See that really sucks! If you have good credit with a company I don't see why they'd do that. I mean since you can't declare bankruptcy again shouldn't they be able to rest a little easier since you can't declare bk again?

[anonymuse]

So how do they figure out to close you out when the cards aren't included???

I guess I got lucky on one thing...

A lot of cc regularily pull your credit report to see your status and cancel accordingly.

[Sammy]

I have an AMEX card in my own name/credit that I use ONLY for business travel. I get reimbursed by my employer and pay it in full as soon as I received the funds. Knowing Amex, I won't be surprised if they close it even though I don't plan on listing them ($0 balance). The problem is, it is darn near impossible to travel w/o a CC and I'll need about a $3k limit for my typical business travel. If I can no longer travel due to no CC, I may be out of a job....

Any suggestions?

Thanks!

p.s. - I also have a Citibank card in my name with $0 balance, but Citibank is one of the creditors (in my wife's name) that will be listed on the BK.

[Danielle1981]

No idea....I didn't think they'd cancel me since they had a zero balance. And I don't get this....I used it after the bk date and I should owe for those charges right? They said they wrote it all off!!!! WTF??? I tried arguing with the guy and he wouldn't put them back on.

[SinkingFast]

No idea....I didn't think they'd cancel me since they had a zero balance. And I don't get this....I used it after the bk date and I should owe for those charges right? They said they wrote it all off!!!! WTF??? I tried arguing with the guy and he wouldn't put them back on.

If they had let you pay them that could result in 2 things that they didn't want to mess with.

Definitely,......... Violation of the Automatic Stay protection extended by BK.

And possibly accepting a preferential payment from you. The Trustee could come after them.

The Creditor doesn't want either.

It's not uncommon for Creditors to close an acct with them even tho you are current or owe nothing. Many CC's have a Universal Default clause in their contract. If you're late, miss a payment, file BK, or have a derrogatory comment posted by another Creditor, they can close your acct.