January 26th, 2007 by Questions
What is the minimum length of time one can hold a credit card before including it in a bankcruptcy.
January 28, 2007 at 6:44 pm, A licensed trustee said:
This is a very unusual question – there is no minimum limit. If you owe any money on the card when you file the debt must be disclosed. Further, even if you don’t any money on the card when you file bankruptcy you are required to surrender it to your trustee.
I should warn you if you are thinking of using a brandnew credit card to pay off some other debt you could get yourself in trouble. Using the card in this way (knowing that you are about to file bankrutpcy) could easily be construed as fraudulent – that’s not a good way to get started.
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