Can You Keep a Keep a Zero Balance Credit Card When You File Bankruptcy

Are you allowed to keep credit cards that have a zero balance when you file #chapter7bankruptcy or #chapter13bankruptcy ?
As I discuss in this video, if your balance is zero you are not required to include former creditors when you file a bankruptcy in the Atlanta area. For example, if you have a Capital One or a Citibank credit card but the balance is zero, you would not include Capital One or Citibank as a creditor in your case. #atlantabankruptcy
If you file Chapter 7 no one will ask you to hand over your zero balance credit cards. Some creditors will be happy to keep you as a customer, while others (like American Express) will likely cancel your account.
You can assume that all lenders with whom you have an account will find out about your bankruptcy filing - credit card lenders have access to your credit report files so your account will be flagged.
Many credit card lenders will be happy to have you as a customer since you are a better credit risk after filing bankruptcy than before. Sometimes this applies to credit card lenders who you did include in bankruptcy. The credit card business is extremely profitable so anyone who is a reasonable risk is a desirable customer.
Chapter 13 is a different story because you will be asked to hand in or destroy your credit cards if you file bankruptcy. Chapter 13 is a multi-year payment plan and you are not allowed to incur new debt while funding your plan - unless you get special permission.
If you think you might need access to unsecured credit, you will have to decide if the benefits to Chapter 13 outweigh the burden of not having a credit card for emergencies.
If you need answers to questions about how Chapter 7 or Chapter 13 bankruptcy can affect you, please call our office at 770-393-4985. We are happy to answer your questions.
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[@dianecelento4974]

Always valuable information on this channel.

[@stevemizera3891]

I had all 13 cards cancelled. Most had zero balance. A few I overpaid intentionally but the cancelled and sent the money back.

[@atlantabankruptcy]

Was this in a Chapter 7?