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Keep cc's after ch7?

Submitted by on Wed, 09/24/2008 - 07:44
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If you have a $0 balance on a credit card when you file ch7, can you keep that cc after the chapter 7? Or will the cc company revoke your privileges?


I think many of them will revoke, but it probably depends on the creditor. We had two accounts with a zero balance when we filed ours - a Lowe's account (paid off monthly and always on time), and a Kohl's credit card (also always paid off and on time). Shortly after we filed BK, Lowe's closed the account, and even though I called them to try to get them to reconsider, they wouldn't budge. It has made it very difficult for us since my husband is a contractor and has to buy parts and supplies for jobs up front and then doesn't get paid for them for weeks or longer. The Kohl's account, however, is still open, which is surprising to me since it's owned by Chase, who I had two other credit cards with that were included in the BK. But it's only been about two and a half months since we filed, so I guess it could still get closed.


Submitted by alias1958 on Wed, 09/24/2008 - 15:48

alias1958

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CC's randomly do account reviews every so often. The chances are that if they ever pull your credit during a review, and they see you filed BK, they will probably close your account.

That's not true for every CC though, because every company has different policies. More often than not, though, they will close the card if/when they find out.


Submitted by DebtCruncher on Wed, 09/24/2008 - 18:30

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