QUESTION
Is a credit card affected if I do not list it as one of my creditors?
Asked on May 21st, 2012 on Bankruptcy - Florida
More details to this question:
If I file bankruptcy and want to keep 1 credit card that I use for gasoline, is it affected if I do not list it as one of my creditors? It is current and paid each month.
2 ANSWERS
Burton J. Green
No, you do not need to list a credit card that has a zero balance when you file. You may have to disclose the payment to the creditor in your statement of financial affairs. As a practical matter, even when you do not list a particular credit card because you have a zero balance, when the bank learns of your bankruptcy it normally cancels your card. That may not be the case with a gasoline charge card.
Answered on Jul 10th, 2012 at 1:52 PM
Criminal Defense Attorney serving Deltona, FL
at
R. Jason de Groot, P.A.
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You must list all assets and all debts when filing bankruptcy. However, if there is a zero balance, nothing is owed and there is nothing to be discharged. You do not need to list debts that do not exist.
Answered on Jul 05th, 2012 at 4:00 PM