More details to this question:
What is the difference between reaffirming a credit card debt vs not including the debt in Chap 7 bankruptcy. Im employed by the dept store that issued the charge, therefore I would like to keep the charge open and continue to pay. Im an executive in the store and would like to keep my job secure.
15 ANSWERS
First, you HAVE to list every debt in your bankruptcy. Second, the employer cannot fire you because of the bankruptcy filing. Finally, you can reaffirm the debt if you are still concerned about it.
Answered on Aug 11th, 2011 at 11:07 AM
Bankruptcy Attorney serving Concord, CA
at
William Rubendall Attorney at Law
Update Your Profile
All debts, including credit cards, must be listed in the bankruptcy schedules. You can choose whether or not to reaffirm a given debt. For example, if you are employed by the company that issued the charge card, you may want to continue paying that debt.
Answered on Aug 11th, 2011 at 10:13 AM
You can reaffirm any debt. Usually reaffirmation agreements allow you to keep property that might otherwise be repossessed. If you make arrangements with the credit card company to reaffirm the obligation, then you may be able to retain the open account. However, most credit card companies will not offer a reaffirmation agreement. If you fail to list the card and a review of your credit history shows the filing of a bankruptcy petition, the creditor will close the account to further use unless some prior agreement has been reached between you and them. The bankruptcy code requires you to list all of your creditors.
Answered on Aug 11th, 2011 at 8:39 AM
Bankruptcy Attorney serving Livonia, MI
at
Charles J. Schneider, P.C.
Update Your Profile
There is no such thing as not including a debt in a bankruptcy inasmuch as you are signing your bankruptcy petition under oath and under the penalty of perjury that you have listed all your debts, income, assets, and expenses. Your failure to do so can lead to a denial of your discharge of all your debt. In addition, even if you disobey the law and don't list it, it is likely the credit card company would find out about your filing thru a National Data Clearing center and cancel your card and debt. Reaffirmation agreements must come from that creditor. It is unlikely that the creditor will send you a reaffirmation agreement for the balance owed on your account as it is not worth it for them to do so. It is not the responsibility of your attorney to draft one as that would be representing the creditor and not you.
Answered on Aug 11th, 2011 at 7:42 AM
Yes, you can reaffirm your credit card debt. To do so, you need to enter into a written reaffirmation agreement and have the agreement approved by the Court. You are required by law to list all of your assets and all of your debts in your bankruptcy schedules. It is never proper to intentionally not list a debt.
Answered on Aug 11th, 2011 at 7:42 AM
Samuel Lee Tucker
Problematic. You have to include all of your creditors in your schedules. Generally, credit card debt is not reaffirmed. Can you be up front with your employer. There is nothing preventing you from continuing to pay your employer credit card as and when due, but do not believe you can not to disclose the bankruptcy to your employer ultimately.
Answered on Aug 11th, 2011 at 7:20 AM
judith runyon
All debts must be listed in your bankruptcy. All creditors must be treated equally in bankruptcy. You don't reaffirm credit cards, but if you want to continue paying it, you may, but the creditor may still close your account.
Answered on Aug 11th, 2011 at 5:16 AM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
at
Mankus & Marchan, Ltd.
Update Your Profile
In bankruptcy you must list all assets and ALL debts; you cannot to chose to exclude any. You can chose to reaffirm any debt you wish to pay, including credit card debt, although some bankruptcy judges call you in to testify that you are reaffirmming a debt knowingly and voluntarily.
Answered on Aug 10th, 2011 at 4:40 PM
Bankruptcy Attorney serving Hayward, CA
at
Carballo Law Offices
Update Your Profile
You cannot reaffirm your credit card debt because that would be a preference. That means you would be preferring one unsecured creditor over the others. You can certainly pay that debt and any other debt you wish to pay voluntarily but threatening to dismiss you because you do not pay a debt would be a violation of the automatic stay and the discharge injunction after you get your discharge. question, please just reply to this email. The original > content and subject should not be modified, otherwise your answer will not > be valid.
Answered on Aug 10th, 2011 at 11:32 AM
Debtor's Rights Attorney serving Atlanta, GA
at
Theodore N. Stapleton, P.C.
Update Your Profile
You must include all debts in your chapter 7 filing you cannot pick and choose who you file bankruptcy against. I am happy to discuss these issues with you.
Answered on Aug 10th, 2011 at 11:31 AM
Bankruptcy Chapter 7 Attorney serving Boulder, CO
at
Law Office of Paul Stuber
Update Your Profile
You are required to list all debts on the petition. If you do not owe anything on a card then you do not have to list it, but you must list all debts. Reaffirmation agreements are meant for secured debts. People often reaffirm on a home mortgage or a car loan in order to keep the item secured. Even if you do not list a credit card on your bankruptcy petition the card company will find out about the bankruptcy and may cancel your card. None of the above means that you cannot contact the credit card company and start again a card with them. In fact you will be given opportunities just because you filed bankruptcy. You may become a better risk on an unsecured credit line because you have discharged your debt and you cannot file chapter 7 bankruptcy again for 8 years. I am unsure how the store will deal with an employee in this situation. I would suggest you talk to someone in authority about the stores policy on bankruptcy with employees.
Answered on Aug 10th, 2011 at 11:31 AM
Glen Edward Ashman
Your post tells me that you are doing something dangerous - filing without a lawyer. It is highly unlikely that a creditor will permit you to use the card even if you reaffirm, and your employer is NOT the creditor. All major store cards are owned by banks. So your employer is unaware of the case anyway. Additionally, no court is likely to allow you to reaffirm an unsecured debt. Get a lawyer before you make other missteps.
Answered on Aug 10th, 2011 at 11:31 AM
First off, I cant see a court anywhere approving a reaffirmation on a credit card. A basic premise of BK is that like situated creditors are treated equally you cant refuse to pay on this visa, but pay on another mastercard just because. Second, you do not have any choice in whether you list a debt or not. You must, by law, include every debt you owe. You also will be asked that question under oath at the 341 meeting of creditors. Tread lightly if you think you can simply fib. Repercussions start at denial of entry of discharge for filing knowingly false papers, and go up to jail time for perjury.
Answered on Aug 10th, 2011 at 11:30 AM
Bankruptcy Attorney serving Seattle, WA
at
Symmes Law Group, PLLC
Update Your Profile
No, this is an unsecured debt and must be included in your bankruptcy discharge.
Answered on Aug 10th, 2011 at 11:30 AM
Bankruptcy Decision Attorney serving San Diego, CA
at
Law Office of Daniel G. Shay
Update Your Profile
All debts must be listed on the BK Petition. You cannot leave the debt out. Paying the debt off prior to filing could be seen as a preference and could be a problem too. Further, it is very rare for a Judge to approve a reaff on a CC. But, maybe you have a good reason. I would contact your HR dept and see if it would really matter. My bet is no.
Answered on Aug 10th, 2011 at 11:29 AM