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Can I keep a credit card if I file bankruptcy?

You cannot borrow any money without court permission IF you file a chapter 13 bankruptcy while your chapter 13 bankruptcy payment plan is still operating, so the answer for that specific time frame would be NO. However, if you file a chapter 7 bankruptcy, then you may keep any credit card you have if the bank issuing the credit card will allow it. Frequently, the banks ask you to keep the card, but want you to sign a reaffirmation agreement in order to repay the balance and keep the card. Note that if you do not owe a balance on the card when you file bankruptcy, then you do not need to list the creditor and could keep the card without notifying the creditor. However, if the creditor sweeps your credit at a later date, then it may notice the bankruptcy and cancel your credit card privileges. Finally, please note that I have had so many clients tell me that after they filed a bankruptcy and received their discharge they received unsolicited pre-approved credit cards because they filed bankruptcy, I believe that you probably can get credit cards right after filing bankruptcy for necessary purposes without a lot of problems.

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  • Can I go to Jail for not Paying my Bills?

    No, not unless you committed a crime in the creation of the debt (for example, fraud). Simply borrowing money and not being able to pay it back is not a crime. Many creditors representatives will tell you lies on the telephone and say that they will have you put in jail. Perhaps they are too ignorant to know they are wrong or that it is illegal for them even to say that. See More Bankruptcy Q&A