Expert: Terry Leeders - 6/18/2008

Question
MY WIFE AND I ARE FILING CHAPTER 7 BK IN CALIFORNIA, NO PROPERTY JUST UNSECURED CREDIT AROUND THE 1st WEEK OF AUG. WE EACH HAVE ONE CREDIT CARD THAT WE HAVE CONTINUED TO USE FOR GAS AND FOOD AND HAVE NOW LEARNED THAT SINCE THERE IS A HIGH BALANCE ON THE CARDS WE WILL HAVE TO CLAIM THEM. WE ARE STILL MAKING THE MIN PAYMENTS ON THE CARDS AND WILL DO SO TILL THE BK IS DONE.  WE HAVE NOW STOPPED USING THEM COMPLETELY, BUT WHAT WILL HAPPEN WITH THEM IN THE BK, WILL WE BE RESPONSIBLE FOR THE ENTIRE BALANCE OF THE CARDS ??

Answer
All debts need to be scheduled in bankruptcy.
It would be up to the creditor if they wish to extend credit to you in the future.  Be careful, recent usage on a card can draw an adversary objection in your case, so speak with your lawyer about the issue to advise you when to file to help avoid any objections.  Otherwise, the debt should be discharged in the case.