Legal Question in Bankruptcy in Texas

Re: Credit Cards

Short answer -- it is likely you will be able to use the credit card you referred to after your bankruptcy case is completed.

If I understand your question correctly you recently applied for and received a credit card. You have not yet activated the card and used it. If this is the case I advise you to activate the card and charge a small purchase (maybe go out to dinner or buy some groceries $50/max). Then in two weeks call the credit card and payoff the amount you charged in full. After you file for bankruptcy you are essentially prohibited from charging any of your credit cards. In addition all your debts must be listed in your bankruptcy paperwork. However, the new card you received will not be listed since the balance is zero. My experience tells me that most of the time since the credit card companies use computerized systems to code an account "bankrupt" your new credit card should "survive" the bankruptcy. It will not be coded and after your case is closed you will have the card to help reestablish your credit. A good lawyer can provide you with other strategies for keeping use of one or more credit cards after bankruptcy. ph. (972) 231-5500

Re: Credit Cards

You should not apply for credit during your bankruptcy without the Trustee's permission. If you have the card, you need to list the account as either a debt (if you owe money on it) or as an asset.