CAN I KEEP MY CREDIT CARD ?

[mlw1027]

Through a business partnership souring and having to evict a tenent from our home last month, my husband is forced to file for bankruptcy. The lawyer is going to file chapter 13, as we have too much income for chapter 7. My question is that I would like to keep my Amex card out of the filing. It is the only card I have in my name ( I am not a co-signer on my husbad's debts and he is not on the Amex card.) and I have a stellar payment history. Even though the other debts are not in my name, but since we share a household, I cannot escape joining in on the petition. Secondly, 2 months ago I took a large cash advance to help with the bills that we came to the conclusion is only a bandAid on a gaping wound. My husband stopped using any credit cards more than 2 months ago, most were business related, but the lawyer says we must wait 3 months from this week because I have used the Amex card. If I continue to pay the Amex card, but refrain from using it, will they ignore any inquiry from the court or will contacting them to explain the situation help? I truly do not want to default on money that I have borrowed in good faith.
Thanks for any insight. M.

[Eagle]

You wil have to list the card on the bankruptcy petition unles, maybe, you have a zero balance on it. You may want to ask your lawyer about this (having a zero balance). Amex will eventually fine out you have a bk on your record because the periodically (like other credit card companies) make inquiries on your credit report.

[mlw1027]

So do you think it is a good idea to continue to pay toward my Amex balance, but not use it, and contact them that I fully intend to pay everything back or stop paying as per the lawyer? I guess I run the risk that they will close my account with this backruptcy information that I supply to them. If the trustee sets an amount that Amex will be paid, I guess Amex will be happy I paid them back in full and then close my account. M.

[Eagle]

No, if you pay Amex & not the other creditors you will be favoring one creditor over the others.