This is one of the questions that our Arizona bankruptcy lawyers often are asked. Many people who need to declare bankruptcy have a favorite credit card that they want to keep even after they have filed for bankruptcy protection.
Unfortunately, you can not pick and choose which debts you are wanting to include in your bankruptcy. Thus, in a word “No” you can not keep one of your cards when filing for bankruptcy in Arizona. We understand that it makes no sense, if you want to pay back some of your debt, it just isn’t fair to your other creditors.
An example of how this might work is: You have a balance that you want to Discharge on your Mastercard but want to continue to pay the personal loan that you borrowed from your work’s credit union. That is not something that you can do. Picking and choosing debts to include in bankruptcy is not allowed.
Credit Cards with Zero Balance in Bankruptcy
Often, people will tell our experienced bankruptcy attorneys that they chose not to include a creditor on their bankruptcy because the card had a zero balance. Just because they don’t owe money on a card does not make it a card that they can choose not to include.
In fairness, usually they are wanting to hang on to that credit card because it is $0 balance and they hope it will help them re-establish their credit after filing bankruptcy. Unfortunately, the lenders (issuers of the credit card) don’t look at this the same way. Most often, the lenders subscribe to services that follow and update current bankruptcies that are filed. Thus, the lenders compare bankruptcy filings to their own database. Any active account that the lender might have (Even with a $0 Balance) that matches up to a bankruptcy case will lose borrowing privileges. Your credit card will be canceled, even sans a balance.
Can I Exclude a Credit Card when Declaring Bankruptcy? It’s an Important Card.
So, what if I just exclude a card and don’t tell anyone about it? Will that allow me to keep a credit card when declaring bankruptcy? Once again, no matter how important the credit or department store card might be, excluding the account and/or the card is simply not an option. We feel that you should use one of the federal debt relief programs: Chapter 7 or Chapter 13 in order to start a new debt freeChapter of your life.
Declaring bankruptcy stops wage garnishments from creditors where they are in the process. However, you won’t necessarily get any of the money back that has already been taken from you through the garnishment. The idea is to stop a garnishment before your creditors take action against you. That is the best way to assure that you won’t lose any of your hard-earned money in a garnishment.
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Create a budget.
Spend Any Extra Money You Have… On Your Debt
We believe that the explanation above is clear, but we will break it up for you. Basically, a discharge declares that the debtor is not legally required to pay any debts that were discharge in court or through an attorney. Also,you will not be fully relief you from all your debts. However, the debts that were discharge, the creditors will stop taking any form of collection action on the discharge debts. That means no more phone calls or letters from the creditors. The discharge only focuses on debts, not a bankruptcy trustee. You need to have that very clear. A bankruptcy trustee will still be sending you a demand letters. Talk with your 
If you believe you need to claim bankruptcy in the state of Arizona, you need the guidance of a bankruptcy lawyer from a reputable 
Although it may not be easy, and you must be careful at all times, buying a home after filing for an Arizona bankruptcy is entirely possible. You have to be vigilant and make sure that all of your finances are in order. You should always keep in mind the troubles you went through before and during the bankruptcy. This is the only way that you can really avoid doing it again. You also need to be patient. You may think that once you file for bankruptcy, your troubles are over, but in order to prevent it from happening again, you can’t go back to your frivolous ways. Save your money, take time to gather yourself and your funds, and soon you will be perfectly capable of buying a home once again.