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  1. #1
    Join Date
    Dec 2007
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    1

    Default Using A Credit Card During Bankruptcy

    I'm currently in chapter 7. I have a credit card that had a 0 balance and was not included. Can I use this card or will it be considered fraud? If so do they monitor my credit for changes?

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
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    98,846

    Default Re: Using A Credit Card During Bankruptcy

    From a strictly legal (and ethical) perspective, no you may not. Also, if you recently paid down the card in order to attempt this, the payments may create issues of improper "preference" between creditors. Also, many credit card companies will revoke cards when they learn that the card holder has declared bankruptcy, which can jeopardize your discharge.

  3. #3
    Join Date
    Feb 2009
    Posts
    2

    Default Re: Using A Credit Card During Bankruptcy

    I am new to the Chapter 7 world, if you had a credit card with a 0 balance and never have used it, how or why would that CC company have a reason to revoke or cancel it?

    Again i am a newbie, just trying to find all the answers.

  4. #4
    Join Date
    Mar 2007
    Posts
    9,096

    Default Re: Using A Credit Card During Bankruptcy

    Because, when you file, the judge will look at any charges made within 6 months of the filing that are included.

    In other words, you can't run up all your credit cards and then declare bankruptcy. The judge may not allow them to be included in the BK.

  5. #5
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Using A Credit Card During Bankruptcy

    Quote Quoting gogetter76
    View Post
    I am new to the Chapter 7 world, if you had a credit card with a 0 balance and never have used it, how or why would that CC company have a reason to revoke or cancel it?

    Again i am a newbie, just trying to find all the answers.
    The original poster never said they didn't use the card - only that it had a 0 balance at the time of bankruptcy.

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