Concerned About Credit in Bankruptcy
A San Jose bankruptcy attorney has an example of one bankrutptcy inquiry with regard to credit card debt...
Many Bay Area consumers in debt worry about being able to keep credit cards that are paid off while filing bankruptcy on those that are not. For example, one such bankruptcy candidate in our San Jose bankruptcy law firm asked just yesterday:
"I want to file for bankruptcy, but want to be able to keep a couple of my credit cards. If I have 2 credit cards with the same company and one is paid off and the other is going to be part of my bankruptcy, will they cancel the paid off card?"
Unfortunately there is no concrete answer for this bankruptcy scenerio. While they may have no reason to cancel the one that is paid off, they can still cancel it. Some credit card companies even run quarterly credit checks and if they see a certain amount of debt, or find out about the bankruptcy, they will close the account. In short, it's completely up to the credit card company.
This is why speaking to a qualified, educated bankruptcy attorney is crucial to informing yourself on all of the options involved in filing bankruptcy. Consulting with an attorney means your specific circumstances, which may or may not "fit the mold" of other bankruptcy candidates can be addressed and all of your questions answered.
If you do have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
