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Can you keep any credit cards on Bankruptcy

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BonnieBlue

Junior Member
What is the name of your state? Ohio If you file bankruptcy on old credit cards you cant pay on, can you have a new credit card you can have only for emeegy, say if you need emergency car repairs, but never use the card? Would they take that card away too and leave nothing for emergecies. I dont have an emergency card but thought it might be good to try to get one.
 


bigun

Senior Member
Once your bk shows up on your credit report, many cc companies will automatically cancel your cards.
 

Betty

Senior Member
BonnieBlue said:
What is the name of your state? Ohio If you file bankruptcy on old credit cards you cant pay on, can you have a new credit card you can have only for emeegy, say if you need emergency car repairs, but never use the card? Would they take that card away too and leave nothing for emergecies. I dont have an emergency card but thought it might be good to try to get one.
It sounds as if you have already filed or are planning on filing bankruptcy on all your "old" credit cards & want to know if you can get a "new" credit card after bankruptcy. Some banks will issue a credit card after a bankruptcy - some secured cards & some unsecured. A secured card is backed by a savings/security deposit you make to the bank & an unsecured is not. If you are filing/have filed for bk, you probably do not have the money to make a security deposit for a credit card. The banks that will issue an unsecured card after a bk usually have application & processing fees, high interest rates & sometimes an annual fee. Also, if you would need to use the "emergency card", can you afford to pay off this card?
When a person declares bk, and wants to keep a card (one they already have) - this is sometimes done but it is up to the creditor if they want to allow this.
 
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BonnieBlue

Junior Member
Betty said:
It sounds as if you have already filed or are planning on filing bankruptcy on all your "old" credit cards & want to know if you can get a "new" credit card after bankruptcy. Some banks will issue a credit card after a bankruptcy - some secured cards & some unsecured. A secured card is backed by a savings/security deposit you make to the bank & an unsecured is not. If you are filing/have filed for bk, you probably do not have the money to make a security deposit for a credit card. The banks that will issue an unsecured card after a bk usually have application & processing fees, high interest rates & sometimes an annual fee. Also, if you would need to use the "emergency card", can you afford to pay off this card?
When a person declares bk, and wants to keep a card (one they already have) - this is sometimes done but it is up to the creditor if they want to allow this.
No I havent filed I cant afford to do so. I just thought since there is so far only one bad credit mark,and old one on my credit report I could possibly try to get a new card just for emergencys but not use it, and then later on try to find a way to file for bnkruptcy but still be able to keep only the new card, and file bankruptcy only on the old cards.
 

wayne-o

Member
you would have to list the new card on your bankruptcy...you are not able to pick and choose which creditors you are not going to pay. It is possible to "re-affirm" the new card, but there is no guarantee the creditor will keep the account open. It does not give them a "warm fuzzy" when you file bankruptcy.
 

Ladynred

Senior Member
you would have to list the new card on your bankruptcy
Not unless it had a balance on it. No balance = no DEBT to include or be discharged and absolutely NO reason to list it on the bankruptcy schedules.

Considering that all those accounts you're stuck with were the result of identity theft and spousal abuse, AND they're 14 years old, you might be able to get a card for emergencies. Bank of America has a secured card, you give them $99 and they give you a $500 (I think) limit. It's a pretty good deal if you can get it.
 

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