Lawyer & Lawyer

Can you keep the credit cards after filing the bankruptcy?

 

This question is hypothetical in nature and the ‘yes’ answer is circumstantial in Indianapolis like in any other city. Sometimes, you can keep the cards if the bank agrees and allows you to keep it. On the other hand, the court will evaluate your ability to maintain the card and pay off the credit bills on time. However, most of the people end up losing their cards when they make the application and this leaves them in an unfamiliar territory. If you are one among them, then you will have to learn to manage with all the emergency expenses without the help of a credit card purchase. Btu in some cases where the credit purchases are needed for work purposes, it is allowed but if the person is known to use it for any other purpose, he will lose the possession of the same.

 

Can you file it for the second time?

 

You can file a second bankruptcy Indianapolis after completing 8 years from filing the first plea. However, you need to have a solid genuine reason for filing it for the second time which will otherwise be rejected right away. A medical emergency is an acceptable reason to file it again. The 8 year period is for you to file a second chapter 7 but if you want to file a chapter 13 after 7 then you will have to wait for a smaller period of 4 years to make the filing.

 

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