Re: filing for bankruptcy

Posted by LadynRed (199.91.33.254) on May 16, 2003 at 14:04:30:

In Reply to: filing for bankruptcy posted by anon on May 16, 2003 at 10:27:23:

First of all, you can't NOT list a debt that you know about. People do forget or miss creditors, but to itentionally leave one out hoping to keep it isn't wise. You CAN ask the Trustee if you can keep it. If its a small debt and keeping it would not put your 'fresh start' in jeopardy, the Trustee may let you keep it. My sister was able to do this with 2 very small accounts in her bankruptcy.

On another note, even if you don't list it, there is no guarantee that the creditor won't cancel the card anyway when they see the BK on your credit report. You'd then be left with the debt and a useless piece of plastic !

As for how or why you incurred the debt.. no, in general they don't care. The only time they might is if you charged up huge amounts on expensive items and then turned around and filed bankruptcy, then they would likely pitch a fit.

Once you get your discharge, you'll likely be bombarded with credit card offers.. most of them horrible, but some are ok. You just have to pick and choose VERY carefully. Your best bet is a decent secured card and use it sparingly but always pay it on time and in full.

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