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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31672
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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my wife and i are considering bankruptcy. i was told by one

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my wife and i are considering bankruptcy. i was told by one person, that we would have to list ALL of our credit cards. we have a few low balance cards we use for everyday things, gas, food, etc. we dont want to lose them. i was told by another person, that we could only list the cards we want to get rid of. which is true?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 8 years ago.

If you owe money on a credit card at the time you file bankruptcy, you must list the card as a debt. Remember, the schedules are filed under penalty of perjury: perjury in connection with your case can lead to denial of discharge of all of your debts. It is also a federal crime.


If you don't owe anything on the card, you don't have to give the credit card company notice of your bankruptcy. Note, however, that they may find out through other means and cancel the card as a precaution. American Express is notorious for this.

Most credit card companies will allow you to keep their credit card for use after bankruptcy if you agree to reaffirm the balance on the card and enter into a new agreement, signed after the bankruptcy filing. The decision is up to the creditor, but most creditors want to avoid the loss incurred when the debt is discharged, and want your future business.

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