Legal Question in Bankruptcy in Illinois

Closed accounts

If a credit card account has been closed voluntarily (to reject an increase in APR) and is still being paid off, can it be included in a bankruptcy?


Asked on 1/27/07, 9:09 pm

1 Answer from Attorneys
Terrance Leeders Leeders Law

Re: Closed accounts

Thanks for writing.

Any debt you owe, with any type of balance needs to be listed on your bankruptcy petition. If, however, you have no balance on the account, then it would not need to be listed. Take caution though, even if you have a zero balance, the company may decide to close it once they learn of your bankruptcy. Contact me to discuss what debts are discharegable and which are not. I offer free consultations.

Thank you.

Sincerely,

Terry Leeders

Read more
Answered on 1/29/07, 10:12 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Illinois