Q: Are the frequent flyer miles I earned through a credit card protected if I file bankruptcy?
A:
Frequent flyer miles are not on the Arizona exemption list, but depending on circumstances, you may be able to use other exemptions called a 'wild card'. This is the first of hundreds of questions you should be asking so it is best to talk to an experienced bankruptcy attorney in order to determine your rights and obligations. Most offered free consultations.
Make sure no one tries to strong arm you into signing up with their office. I just got off the phone with a lovely lady who said she met this morning with a large advertising law firm. She said they demanded that she sign up with their office before she would be allowed to leave. When she refused they were very rude, what a horrible way to treat anyone. Moral of this story - never, never, never let anyone force you into a decision before considering all the issues and talking to several experienced attorneys about your situation.
Bankruptcy is very complicated and it is important you understand the big picture before jumping off what could be a very high cliff with rocks down below. Normally you cannot get out of bankruptcy once you file and even if you are able to dismiss your bankruptcy it will still be on your credit.
A: You can use your wild card exemption to protect your FL miles.
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