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HCLegal
HCLegal, Attorney
Category: Bankruptcy Law
Satisfied Customers: 423
Experience:  I have filed over a thousand bankruptcy cases.
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I have three questions: 1) I paid off student loans with

Resolved Question:

I have three questions:

1) I paid off student loans with convenience checks from a credit card. Will this be an issue if I file bankrupcy?

2) I recently purchased a vehicle. If I keep up with my car payments will it be likely I can keep the car?

3) If I have a credit card with zero balance and file bankrupcy- will the credit account stay open?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  HCLegal replied 2 years ago.

HCLegal :

Hello and thank you for your question here on Just Answer.

HCLegal :

to answer your questions....

HCLegal :

1) it will not be an issue but you will have to wait awhile before you file your bankruptcy.

HCLegal :

If use your credit cards and then immediately file bankruptcy, the credit card company can file an adversary proceeding stating that you incurred the debt fraudulently, in that you incurred the debt knowing you were going to file bankruptcy and not pay it back.

HCLegal :

You should wait at least 90 days, but the longer the better.... I would say at least 180 days.

Customer:

Thanks for the advice on that

HCLegal :

2) Yes, as long as you continue to make your payments you will be ok.

HCLegal :

3) If you have a credit card with a zero balance you would not need to list them on your bankruptcy schedules.

HCLegal :

It may or may not stay open, it just depends on the creditor.

Customer:

ok

HCLegal :

American Express will close your account as soon as they find out about the bankruptcy.

HCLegal :

others it just depends.

HCLegal :

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HCLegal, Attorney
Category: Bankruptcy Law
Satisfied Customers: 423
Experience: I have filed over a thousand bankruptcy cases.
HCLegal and other Bankruptcy Law Specialists are ready to help you

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