When filing for bankruptcy, many times it is asked if you have to list all of your creditors in your report. To answer it simply, yes. A debtor needs to list all of their creditors as well as give them notice. This is required by the bankruptcy code. Congress has deemed it necessary because if you are receiving a discharge for your debts, it is only fair that your creditors are made aware so that they can participate in the case if they so choose to.

Even when you do intend to repay the debt, you need to list it in your bankruptcy petition. Also, when you omit a credit card company from the list because you would like to keep using the card, it does not promise that you can continue using the card.

Most major credit card companies use a nationwide database listing those individuals who have filed bankruptcy, and will cancel an account, even if there is no balance owed. In short, listing a creditor on your petition does not keep you from paying those you wish to pay after filing for bankruptcy. All creditors, even if you have intention of paying them back, should be formally notified of your bankruptcy petition so that they have time to act if they choose.

The Bankruptcy Code is made to ensure that if you can discharge a portion or all of your debts, each one of the creditors will be treated equally and with fairness. Failure to list all creditors in considered bankruptcy fraud and perjury, and punishment includes fines and imprisonment. You can’t be promised that your creditors will not find out about your bankruptcy just because you have failed to list them. If found guilty of perjury, your bankruptcy petition could be denied and your debt will not be forgiven.