Can you exclude good tradelines w/no lates and in good standing from a chapter 7 bankruptcy schedule? This a question for a friend who has a permanent disability and is now on a fixed income, but wants to keep her car loan and one credit card which she makes current payments. My good news, I have no credit which is as bad as bad credit. I applied and received a Kay's Jewelry Card. Does anyone know how long this will take to report on my reports?
She cannot selectively exclude items from her bankruptcy, however she may choose to reaffirm. The bank financing the car loan shouldn't be a problem, however there is no guarantee that a credit card company will want to keep her as a costumer once she files, regardless of payment history.
You do not have to iclude any cc in your CH 7 as long as it has a zero balance at the time you file.If you do have any balance it must be included with your filing.
Thanks for your reply. I am just trudging along with her. I just printed out all of the info for Chapter 7 from this website and another forum. That way she can have a informed decision.
