It is always a good idea to list all of your credit cards in chapter 7 bankruptcy. There are two reasons for this.
The first is that when you file chapter 7 bankruptcy all your credit card companies will know about it, whether or not you list them. If you do not list them, they will block your card and there is no way they will make a deal with you.
On the other hand if you list them, they will contact you to see if you want to keep the credit card, howbeit at a much reduced balance owing. Obviously you do not need to make a deal with them since your goal is to discharge the debt and never pay it again.
If this is a credit card that is important to you and you want to keep it after bankruptcy, that is very possible but only if you list them.
For example if your balance on a credit card is $5,000, it is possible to have them reduced it to only $1,000.
First, the card company gets to keep your business in the hope of you running up your card balance again. For you, this gives you the convenience of having a card you can use for hotel and airline reservations. It also helps you quickly reestablish good credit.
There are certain things you can do to get the best possible reduction in the card balance after you have filed bankruptcy. We are talking about even reducing it to as little as $200, from a high of say, $5,000.
If keeping a credit card after bankruptcy is important to you, then this may be one good reason to choose our full-service product. We give all our full-service customers access to step-by-step information on what they need to do after filing bankruptcy, to get the card companies to deal with them on your own terms.
Disclaimer: Please note we are not lawyers and so we cannot give you legal advice. Further, any literature on the site is general in nature and not intended to address your specific situation, nor is it intended to recommend a course of action for you. If you need legal advice, consult a licensed attorney.