After chapter 7 will I be able to keep my credit card accounts with $0 balance to help rebuild my credit score?
Tuesday, March 2nd, 2010 at
7:27 pm
I have a past repossession due to job loss for over 34k and they are charging me $7 interest a day. I have 6 credit cards with chase, capital one, and a home depot card, these will not be included in the chapter 7 because I don’t own any on these cards. Thanks for you help.
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Tagged with: Chapter 7 • Credit Cards • Rebuild Credit
Filed under: House Repossession
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Even if you do not owe a balance and they are not included, the credit cards companies check everyone’s credit report periodically. They will discover that you filed bankruptcy and will most likely close the accounts.
My guess would be that once the bankruptcy judgment appears on your credit statement… the lenders will close your lines of credit. You won’t lose these in the bankruptcy, but they’ll probably be closed once your bankruptcy is completed.
It’s not a matter of will you be able to keep them it’s more a matter of will your creditors cancel them as soon as they find out your have filed chapter 7.
All credit card companies look at their customers credit files at least once a quarter to see how they are paying other creditors, once they see your chapter 7 it’s more then likely they will cancel your cards.
You can always rebuild with others like First Premier, Orchard Bank, H.S.B.C. and Capital One.
Yes your cards will be cancelled thats 100% certain and you will be required to rebuild your credit with secured cards and new payment track records
?redit repair work?d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-free.totalh.com