Can you file bankruptcy on only one charge card and leave the rest of your debt in tact?

UPDATED: Apr 15, 2013

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Can you file bankruptcy on only one charge card and leave the rest of your debt in tact?

Asked on April 15, 2013 under Bankruptcy Law, Illinois


S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Although you could file bankruptcy on only one credit card, this would defeat the purpose of filing for bankruptcy.  All of your creditors with whom you have an outstanding balance should be listed on your bankruptcy.  If you want to pay all of the other creditors, you would indicate on your bankruptcy that you want to reaffirm the debts.  That means you continue making payments. 

If you were to only list one creditor, that would give an inaccurate picture of your financial situation.  You have to list your income and expenses.  If your income and expenses are sufficient to pay that one creditor you want to list without listing all the other creditors, the trustee might not approve / discharge your bankruptcy.  If you list all of your creditors and your income and expense declaration shows insufficient income to pay all your expenses, debts, etc., then your bankruptcy should be approved by the trustee and discharged.

When you file bankruptcy, the bankruptcy court sends notices to all the creditors you have listed.  Your bankruptcy is only effective with the creditors you have listed.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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