Q: If I file for bankruptcy can I keep a credit card ?
A:
You should be able to keep credit cards with zero balances at the time you file. However, that depends upon the creditor.
If you owe the creditor less than $600 and really want to keep the credit card, you may wish to consider paying it off before you file.
If you owe the creditor more than $600, please be advised that paying a single creditor more than $600 within 90 days before a bankruptcy may be avoidable as a preferential transfer. In such cases, I would question whether keeping a particular credit card is worth it.
A: I agree with Mr. Hahn, however, it should be noted that the credit card issuer may still cancel your account if you file bankruptcy, even if there is no balance on the card.
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