Submitting a List of Creditors
When you file for bankruptcy you are required to submit a list of creditors you want to include in the filing. In many cases, it's up to the debtor whether or not to add a creditor with a zero balance. It's not out of the ordinary to have a credit card or loan with a zero balance. It may not be necessary to add them to your filing, but in your best interest you could add the creditors in case you accumulate fees or interest during the current billing cycle.
They Will Find Out About Your Bankruptcy
Whether you add the creditor or not, it is likely they will find out about your bankruptcy filing. In this case, they may choose to close your account, even if you are in good standing. This may include a line of credit with a zero balance but any privileges associated could be terminated. If you have a credit card with a zero balance, the account could be closed by the credit card company, meaning you would be unable to continue using the card even after your bankruptcy has been discharged.
Contact Your Creditor Before Filing Bankruptcy
If you would like to keep your account that has a zero balance, it's recommended to contact the creditor before you begin the filing process. During this time, you can find out from the creditor if their policy allows you to keep the account. Some creditors may make an exception but it is best to contact them to determine what happens to the account. If you decide to add the creditor after the bankruptcy process has started due to fees that have accumulated on the account, you could be charged an additional fee to add them to your petition.
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