Question regarding a credit card account before I file.

[NeedOptions]

I had one of those buy now pay 18 months later w/no interest and no payment promos with Sony Style (GE Money Bank account) and now the first payment is due on June 20th. I have a balance of $1500 and haven't paid a single cent yet as no payment was due. Do I need to make a payment on this? I plan on filing for Ch. 13 in 3-4 months. Obviously, at the time of purchase, I was not planning on filing for Ch. 13. Will GE Money Bank try to come after me for this and file some sort of appeal? Thanks.

[NoTomatoCan]

While on the surface it does look bad (buying something on credit and never paying back anything), I am not sure that it really is that big of a deal. I don't think there is anything statutory for you to be concerned about.

Hard for GE Money to argue bad faith or fraud when it was 18 months ago. A LOT can change in someones financial situation in 18 months. GE (and every other lender) knows this.

I would say make a payment if this is really eating at you, but you probably don't have anything to worry about. (I had similar situation with Home Depot - but for a lot more $$, and no concerns - mine was 18 months as well)

Should also mention that I was paying the account (minimum payment of about $10 per month) up until the grace period ended, which raised minimum payment to about $350. It also coincided with when we stopped paying other CCs.

[momofthree]

Honestly, I would make 1 payment to show good faith.

[NoTomatoCan]

Honestly, I would make 1 payment to show good faith.

Honestly, if the $50 or $75 minimum payment buys you some comfort and piece of mind for the next 3-4 month until you file, that probably is a good investment. Lord knows there are enough other things to stress over while going through BK.

[blessed]

The 12-month same as cash furnace and a/c unit coming due is what pushed the button for us to file. We had every intention of paying it off with our income tax refund but didn't get enough to make a dent. We didn't pay a dime on it.

Looking back, sure I feel bad. But I didn't do this on purpose. If I had done it on purpose there is a whole list of things I could have bought (things I need like new tires) before filing.

Do what you want for the peace of mind but I think you're flushing money down the toilet by making any payments.

[NeedOptions]

Thanks guys. I'll have to think about paying. I may just make one payment.

[pepperoncini]

I had a similar thing with Lowe's - $2500 balance.

I paid two payments.

[keptdigging]

Borrowing money and not making the payment due the next month shows something about your intent when you borrowed in the first place. That's why "never made a payment" is a big deal. 18 months LATER? Shows nothing. It's about intent when you borrowed.

So I don't see why there'd be any need to make a payment.

Caveat: I'm not a lawyer. And, well, if you've got no better use for the cash I guess it can't hurt to make a payment or two. Believe me I understand the "worry" factor.

[Universal]

Just for my own peace of mind, I probably would make a payment. Depends on what else I may need the money for though. If I knew I was going to need something soon, that I may not be able to buy due to lack of funds after filing, then I would probably purchase the other item and let the payment go.