Can I keep a credit card account after bankruptcy?

Can you keep a credit card after filing for bankruptcy? Do you have to list the cards you want to keep in your bankruptcy?

If you owe a balance at the time the bankruptcy petition is filed, you must list the debt. The number one rule of bankruptcy is full disclosure of all assets and debts. This applies regardless of the amount of the debt or value of the asset. If you are worried that you cannot live without a credit card there are a few options.

A credit card with a zero balance does not need to be listed and can be used after you file the bankruptcy petition.

Debtors often find that their concerns about obtaining a credit card after bankruptcy are unfounded. In fact, many who have recently filed for bankruptcy immediately receive offers for new cards in the mail. This seems counter intuitive, after all, didn’t you just stick it to the credit card companies? Why are they willing to offer a new card?

You can’t file bankruptcy every day. Given your fresh start and inability to re-file for another bankruptcy for years, do not be surprised if you even receive solicitations from your old credit card companies! They know that you can’t shake them in bankruptcy for quite some time and with zero debt, you’re an attractive candidate.

Although the new offers may come with slightly higher interest rates, if you use the cards wisely you can begin to rebuild your credit almost immediately by making timely payments and paying the monthly balances in full.