Hello all, I am filing a chapter 7, and I want to keep my Citibank World Platinum, I am current, and have an excellent history with them, but my lawyer told me I had to include everybody in the chapter 7. I want to keep my citi card, and not screw it up, I also want to keep the account open. Would Citi let me, or should I just say screw it and discharge their debt as well, my limit is 7k, and I have the no preset spending limit over that. Is it possible if I call citi and offer to keep making payments, that they'll keep the account open. I know during the next AR they'll find out when looking at my credit bureau report that I filed a ch7, and I dont want my account closed b/c of that. BUT..if they are going to close my account b/c I filed chapter 7..then I'll discharge them as well and say the hell with it. What I am basically asking, is will CITI let me keep the card, as long as I dont screw them, and if they wont, then I'll write that off as well. Any experiences/suggestions?
If you're going to "screw" anyone, as you've put it, make sure it's not Amex or Citi. Otherwise you will never get them again, even if your FICO scores 900 and you make a Million every year. They keep blacklists for every unpaid dollar they ever had to write off. Saar
Your lawyer is right about having to list all creditors in your bankruptcy schedules. If you pay off the card before you file, you won't have to list them BUT you must wait several month to file after it is paid off. Otherwise, the trustee may look at the payment as a preferential transfer made while you were insolvent and require that citibank pay back the money for distribution to other creditors (or more likely to pay trustee fees!). You should talk to your lawyer about the timing of your filing if this is what you decide to do. Even if you are successful in keeping the card off your schedules and working around the rules prohibiting a preferential transfer, citibank might still close the account because of the bankruptcy. I doubt that calling them in advance about this is a good idea. You would only be waving a big red flag in their face. I also doubt that anything they tell you (or reassurances you get) will alter what happens after an account review. Further complicating the situation is the bill in Congress to restrict Chapter 7 that is very likely to become law soon. So there may be some urgency in moving ahead with the filing so that you can get a complete discharge of your debts. You should talk to your lawyer about the best way to balance all of these concerns.
What happens if Citibank is not listed on the schedule? It's not on my credit report, because they had my ssn wrong the last 4 were transposed...what happens if I omit them on the schedule, honestly, is there any way the trustee can find out.?
Don't risk doing that. You could be denied a discharge for making a false statement (by omission) on your schedules). It's also perjury.
