Can I file bankruptcy on my divorce attorney and keep my credit cards?

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Can I file bankruptcy on my divorce attorney and keep my credit cards?

Asked on December 19, 2011 under Bankruptcy Law, New Jersey

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

When you file bankruptcy, it affects ALL your debt, all your loans, and all your open or revolving accounts (e.g all your credit cards)--you cannot selectively file bankruptcy only on this debt or that debt. Instead, bankruptcy will affect all your credit, all your debt, all your obligations, etc. That's not to say it's the wrong option for you--for example, if you file bankruptcy because you can't afford your debts, you may be able afterward to obtain a secured credit card (one where you put up some money to secure it)--but you need to factor  in the entire, broad-based impact into making your decision.


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