Bank of America CC

[jribe]

Looking for anyone that has had experience with BOA in Bankruptcy filings. My husband has a CC with them, and our attorney gave us some misinformation as far as purchases on the card. He had said as long as purchases weren't over $900 -it was safe. And we would just wait 90 days after last use.

So my husband bought some software he needed for his business, paid for some auto insurance, a cell phone bill, and some groceries - thinking we'd be okay. Now i'm worried after hearing that it's *per creditor* not per purchase.

Last purchases were this month, and we won't be filing until May 1st at the earliest. We are still current on the card- but they will raise the rate to 30% since we used the card. We are planning on making the January minimum payment- which will be around $500.

My husband isn't making any money right now, and my income can cover the other bills- rent, groceries, utilities, 1 car, and insurance; but really really can't afford any of the CC's.


So i'm stressing! My attorney is out until the beginning of the year..

I'm just wondering if anyone has had BOA file adversary proceedings against them in a similar situation?

Our attorney already said that he doesn't handle those- and said average cost is about $5000 to fight it. eeek!

[justbroke]

Why are you worried? if you're filing in May, you will have your 90 days!

Yes, APs are mini-lawsuits within the process and can get real expensive. I've read of one in which the lawyer billed $200K. (Don't worry, they aren't generally that bad.)

You should be fine if you stop using the cards, say... now. I would also make a payment, but it doesn't have to be the full minimum.

Please consult with your lawyer before doing anything that I post. He has the best view of your personal situation, and should know the Court and Trustee real well.

[jribe]

Why are you worried? if you're filing in May, you will have your 90 days!

Yes, APs are mini-lawsuits within the process and can get real expensive. I've read of one in which the lawyer billed $200K. (Don't worry, they aren't generally that bad.)

You should be fine if you stop using the cards, say... now. I would also make a payment, but it doesn't have to be the full minimum.

Please consult with your lawyer before doing anything that I post. He has the best view of your personal situation, and should know the Court and Trustee real well.

thanks. our attorney basically said don't worry about it, and don't make any more payments. His thought is that that's just throwing away your money. I'm just worried about getting objections- especially since our attorney said he doesn't do those proceedings.

We really had the intent to pay the charges- but our situation has changed. I guess i'm just a worrywort type of person, so i'm stressing.

The software for my husband was $5,000- but he literally can't do his job without it (he's in estimating).

Would it make any sense to make partial payments until we file? I can't afford the full minimums after i pay them all in Jan.

[TEW]

I had a BOA CC they did not give me a hard time. We were living with that card for months.

[philslyn]

if you intend to file Bk why pay the bills? thats reason why you are filing bk coz you cant afford it! if you intend to file by May.. then u should be Ok.
just dont use any of your credit cards anymore yes it was 5k but it wasnt a luxury coz the intention was to use it to make a living. now due to the economy crisis its understandable that it will go not so smooth.
not sure what kind of software it is.
anyway as long as both of your income meets the median income for chapter 7
and can show that your income is just enough or not even enough to cover neccessities such as food, car, insurance, and rent. then u shud do ok. dont be scared. what they gonna do if they wanna object? force you to an agreement?
then what? isnt it you cant make the payment? so therefore worst come to worst they will take the software back. thats all.

[jktrading]

thanks. our attorney basically said don't worry about it, and don't make any more payments. His thought is that that's just throwing away your money. I'm just worried about getting objections- especially since our attorney said he doesn't do those proceedings.

We really had the intent to pay the charges- but our situation has changed. I guess i'm just a worrywort type of person, so i'm stressing.

The software for my husband was $5,000- but he literally can't do his job without it (he's in estimating).

Would it make any sense to make partial payments until we file? I can't afford the full minimums after i pay them all in Jan.

You're not so much "throwing away your money." You are paying insurance against objections. Yes, it makes complete sense to make partial payments. That is showing that you are trying.

You do have a BK attorney at this point, so that in itself may be able to show you knew you were going to do the BK. Charging anymore at this point would not be the best for you.

What do you mean the attorney doesn't handle objections? Is he an attorney or some paralegal filling out forms? I've never heard that before about an attorney not handling objections. You need someone who does it all and understands what they are doing. From what you've said, it doesn't sound like you've found a good one.

Maybe you should go to your state bar website and look up a good attorney that specializes in BK specifically.

[Doghouse]

You saw an attorney with the complete intention and decision that you'll file for BK in about 4 or 5 months and then you go out and charge over $5000 for software plus other charges???? This isn't pre-bankruptcy planning. It's abuse pure and simple. But hey, who's to know (wink, wink) as long as you do make some payments the next couple of months to show attempt to pay.

[magyar123]

Try to make at least the minimum payments to BoA. If you have checking/savings accounts at BofA close them & go with a different bank. When you do make at least the minimum payments to BofA pay with money orders.

[AngelinaCatHub]

You saw an attorney with the complete intention and decision that you'll file for BK in about 4 or 5 months and then you go out and charge over $5000 for software plus other charges???? This isn't pre-bankruptcy planning. It's abuse pure and simple. But hey, who's to know (wink, wink) as long as you do make some payments the next couple of months to show attempt to pay.

[Mi Bankruptcy]

Although I agree somewhat with hub and doghouse. Here's the statement that could save you.

"We really had the intent to pay the charges- but our situation has changed. I guess i'm just a worrywort type of person, so i'm stressing."

If you can prove that your intent was to pay for the card.. It shouldn't be a problem. If you are confident in your attorney, and your attorney is confident this wont be an issue.. I wouldn't worry about it.

[jribe]

he was working for a company where he was an estimator. there for 3 years. long story short- he was being harrassed, and physically threatned by another employees (at a very small company) and the owners would do nothing about it. I make a lot more than he does, and we could survive without his income. Our decision was for him to start his own estimating business, where he could charge about $40 an hour for the work. To do the estimating- he needs this software. If things work out with the business we may not need to file. But if they don't, his job isn't very easy to find. We would have to move- which would mean me leaving my good paying job. Wouldn't make sense. We are most likely going to end up filing suit on his former company because of laws they broke while he worked for them (again long story). So our intention was for him to be able to do his own business. We have not retained an attorney, just talked with one. He didn't see an issue with it- as it was necessary for his job. I'm not trying to commit fraud in any way. I do think making the minimum payments is the right thing to do- the attorney doesn't see it that way.