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Many bankruptcy filers are wondering whether they are entitled to keep one or several credit cards for emergencies backup. In general, you may not beca

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

use your credit cards will be cancelled regardless, since you file the bankruptcy. The credit card issuers tend to punish their card holders for fillin

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

g any kind of bankruptcy; in most cases, the credit cards of bankruptcy filers will be terminated once they file for a bankruptcy. But there are some e

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

xemptions where terms and conditions will be applied to enable the bankruptcy filers to continue holding their credit cards.

There are some exceptions

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

applicable only to chapter 7 bankruptcy filers. Some credit card's issuers will allow you to keep your credit card but with a sized down credit limit,

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

and in return you need to repay them for some of your debts. In fact, some companies will automatically send you or your attorney a proposed reaffirmat

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ion agreement, a contract between you and your creditor that you will pay all or a portion of the money owed, despite the bankruptcy filing, in exchang

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

e for a minimal amount of new credit.

Beside the sized down credit limit, a chapter 7 bankruptcy filers may allow to keep their credit cards by some o

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

their card issuers but the interest rate will be revised to a higher than the normal interest rate. But, if you can always pay your credit balance in

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

full each month, you will never incur a finance charge, and the high interest rate won't hurt you.

Other than chapter 7 bankruptcy filers, all credit

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

cards must be given up at the filling of bankruptcy. However, there are credit card holders who have maintained their credit cards at zero balance for

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

a long period of time do not report their credit cards during the filing. This action can be considered illegal since in effect your preference on one

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

reditor (your credit card issuer) over other creditors, because repayment ordination is a trustee job.

If you are not eligible to file under chapter 7

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

or even you are filling under chapter 7 but you didn't manage to get approval from your credit card issuers to keep your credit cards, the best thing

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

is report all your credit cards and give them up. In most cases, your need to wait until the bankruptcy filing has cleared and then work with a debt ma

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

nagement consultant to rebuilt your credit step by step. Of course, in the months and years after the bankruptcy filling, you may not be eligible for t

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

p-tier or even middle-tier credit cards.

But with some efforts and fiscal strategy such pay your monthly credit balance in full and on schedule will h

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

elp you to rebuilt your good credit record and you can begin to erase the stigma of the bankruptcy; and eventually put you back in the realm of good to

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

high credit score.

In Summary

In most cases, bankruptcy filers need to give up their credit cards. But, there are exceptions for ba

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

nkruptcy filers in chapter 7, the debtors who file their bankruptcy under chapter 7 may allow to keep their credit cards with some terms and conditions

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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