CC while bankrupt

rassman1

it looks like i will be going bankrupt due to divorce, but thats not my question, if i have 4 CC and clear 3 of them before i go bankrupt and default on the biggest CC, would i be able to still use my other 3 cards?

Sorry if this is the wrong thread, if so please move to CC thread, didnt want to double post.

freddy911

No, you must surrender all your cards to the OR and its most likely all accounts will be closed. Also by paying of 3 cards and leaving 1 with balance your are breaking the law by proffering creditors.

rassman1

freddy911 wrote: »

No, you must surrender all your cards to the OR and its most likely all accounts will be closed. Also by paying of 3 cards and leaving 1 with balance your are breaking the law by proffering creditors.

so would the cleared cards be closed with a banrupt statement or just closed, just wondering how that would affect my chances with those companys after the bankruptcy period?

freddy911

Closed with a bankrupt statement? not sure what you mean by that? if there is no outstanding balance then no default can be issued against the account, it will simply show as closed and no outstanding balance.

meer53

I work for a bank and we receive updates of bankruptcies. As we don't offer banking facilities to customers who are bankrupt, accounts are closed. I can't comment for other banks but i would imagine they all work the same.