Credit Cards in Bankruptcy

Credit Card Debt in Chapter 13 Bankruptcy

How much of your credit card debt you must pay through your Chapter 13 bankruptcy plan depends on a number of factors. Whatever amount is left at the end of your repayment period will be discharged (wiped out).

Can I Keep a Credit Card In My Chapter 7 Bankruptcy?

You'll likely have to give up all of your credit cards if you file for Chapter 7 bankruptcy, but you can start rebuilding your credit once your case is closed.

Recent Luxury Debts and Cash Advances: Can You Get Rid of Them in Bankruptcy?

If you file for bankruptcy, you might not be able to get rid of recent cash advances or credit card charges for luxury items. For cases filed between April 1, 2019, and March 31, 2022, the presumptive fraud limits are $725 for consumer debts owed to a single creditor for luxury goods or services incurred within 90 days of filing for bankruptcy and $1,000 for consumer credit cash advances obtained by an individual debtor within 70 days before filing for bankruptcy. (11 U.S.C. § 523(a)(2)(C)(i)(l).)

Using Your Credit Cards for Luxury Purchases Before Bankruptcy

If you use your credit card to buy luxury goods before you file bankruptcy, you run the risk of having to repay the debt.

I just put some big charges on my credit card. Should I wait to file for bankruptcy?

Learn what you should know about filing for bankruptcy after recently using your credit cards.

Can I Run Up my Credit Card Balances Before I File Bankruptcy?

If you run up your credit card balances right before filing for bankruptcy, the debt might not be wiped out by your bankruptcy.

Do I have to surrender credit cards at my bankruptcy 341 hearing?

In general, you are not required to surrender your credit cards at your bankruptcy 341 hearing (also called the meeting of creditors). Depending on where you live, certain bankruptcy courts or trustees may still ask you to turn them over.