When I ask a client how much credit card debt he or she has, I often get a confused look followed by: ” Do you mean just the debt I want to include in my bankruptcy?” or “Do you mean just the debt I am behind on?” or something similar. No, what I mean is – how much total credit card debt do you have. This is an important question as it may affect the advice I give you for your particular situation.
Additionally, if you decide to file for bankruptcy, you cannot pick and choose which creditors to include in your case. You MUST list EVERYONE you owe money to – even if it is a debt you want to continue to pay – like your home or car. If you don’t list a creditor, that debt may not be discharged. Further, you are signing your schedules under penalty of perjury that you have listed ALL of your debts. If you didn’t list all of them, you are committing a bankruptcy crime.
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