Comments on: Filing for bankruptcy – Am I required to list my joint credit card account? http://howtogobankrupt.org/filing-for-bankruptcy-am-i-required-to-list-my-joint-credit-card-account.htm Mon, 06 Feb 2012 00:00:45 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: OC1999 http://howtogobankrupt.org/filing-for-bankruptcy-am-i-required-to-list-my-joint-credit-card-account.htm/comment-page-1#comment-5296 OC1999 Mon, 01 Feb 2010 19:13:00 +0000 http://howtogobankrupt.org/filing-for-bankruptcy-am-i-required-to-list-my-joint-credit-card-account.htm#comment-5296 The short answer is YES. You must list ALL of your debts you are liable for. This includes accounts you are the sole account holder, as well as Co-Signed or Joint accounts. You don't get to pick and choose what accounts you want to list. You will be removed from the account, making your son the only one liable for any debt on the account. While it is hard to say exactly what the creditor will do, there is a very good chance that they will close the account once you file. You have to remember that bankruptcy is a last resort. The thought that you want to keep an account open for "emergencies" is not going to help you. As soon as your BK is discharged you will have several offers of new credit, although at higher rates and fees. Looking into a secured card is also another choice. The short answer is YES. You must list ALL of your debts you are liable for. This includes accounts you are the sole account holder, as well as Co-Signed or Joint accounts. You don’t get to pick and choose what accounts you want to list.

You will be removed from the account, making your son the only one liable for any debt on the account. While it is hard to say exactly what the creditor will do, there is a very good chance that they will close the account once you file.

You have to remember that bankruptcy is a last resort. The thought that you want to keep an account open for "emergencies" is not going to help you. As soon as your BK is discharged you will have several offers of new credit, although at higher rates and fees. Looking into a secured card is also another choice.

]]> By: I love the wwe divas http://howtogobankrupt.org/filing-for-bankruptcy-am-i-required-to-list-my-joint-credit-card-account.htm/comment-page-1#comment-5297 I love the wwe divas Mon, 01 Feb 2010 19:13:00 +0000 http://howtogobankrupt.org/filing-for-bankruptcy-am-i-required-to-list-my-joint-credit-card-account.htm#comment-5297 The only way you can keep an account open if it has no balance on it. Then its up to the card company if they will let you keep it. OC is right your son is stuck with the joint debt. The only way you can keep an account open if it has no balance on it. Then its up to the card company if they will let you keep it.
OC is right your son is stuck with the joint debt.

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