Can I keep my credit cards after filing for Chapter 7 Bankruptcy?

In Washington, filing for Chapter 7 Bankruptcy may allow for discharge of some unsecured debt, such as credit card debt. However, in order to keep your credit cards after filing for bankruptcy, you must reaffirm the debt by signing a reaffirmation agreement with your creditor. This agreement must be approved by the court. If you decide to reaffirm the debt, you will be bound by the same terms and conditions of your credit card agreement as before your bankruptcy filing. This includes the same interest rate and repayment agreement as before, as well as any fees or penalties that may have been added. This means that you may still be responsible for repaying the entire debt balance if you are not able to make the required payments. If you do not want to reaffirm the debt and would like to completely get rid of the credit card, you may be able to have the debt discharged in your bankruptcy. Discharging the debt means that you are no longer responsible for repaying the debt. However, this will reflect negatively on your credit report and may make it difficult for you to get new credit in the future. Ultimately, it is important to understand all of the consequences before deciding to keep your credit card after filing for Chapter 7 Bankruptcy. A financial advisor or bankruptcy attorney can help you decide which option is best for your situation.

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Can I keep my credit cards after filing for Chapter 7 Bankruptcy?

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