When did you stop paying on your credit cards

[mintz]

I hate asking a question that has been asked before and maybe I just do not understand.

I have not hired an attorney yet but I have spoken to one and plan to hire him. He tell me I need to wait to file at least 4 to 6 months down the road. Does that mean we go to the trustee 4 to 6 months down the road?

I am having difficulty paying all our bills, we are juggling which one to pay. We intend on letting one car go back to the credit union but went and made the payment which is $600 this month.

At what point do you just decide "I'm not paying on this cc bill or that one"?

Thanks

[OhioFiler]

I hate asking a question that has been asked before and maybe I just do not understand.

I have not hired an attorney yet but I have spoken to one and plan to hire him. He tell me I need to wait to file at least 4 to 6 months down the road. Does that mean we go to the trustee 4 to 6 months down the road?

I am having difficulty paying all our bills, we are juggling which one to pay. We intend on letting one car go back to the credit union but went and made the payment which is $600 this month.

At what point do you just decide "I'm not paying on this cc bill or that one"?

Thanks

You decide to immediately stop paying on any unsecured debt. If you're letting that car go you can quit paying now but you might need to keep it in your expenses for the calculations.

Don't pay anymore credit card bills. You could create a preferential payment situation.

We stopped paying in January and plan to file in July. We are making miniscule payments on 2 cards we used in February.

[Trixie007]

Many people make it easily 4-6 mos of not paying without being sued. From reading here, it seems that if it's not a local creditor you should be okay to stop paying now. Of course, that depends too on if you have any cc use that the attorney thinks you should pay on for a few months. For the car, it really depends - do you need the payment for the means test? How long do you need to hold on to the car? Can you replace it with something more affordable?

[NoMoreRed]

We stopped paying all unsecured debt 3 months prior to the petition being filed with the court. If you're concerned about having a repo on your credit report then be sure not to let the vehicle get too far behind prior to filing. Once you file an automatic stay will be put in place which will not allow the bank to repo the vehicle even if you're late. If you're going to keep the car then you'll have to be current on the payments to reaffirm, otherwise you could try to redeem it through 722 redemption at the current market value. Our lawyer told us that the CC company will take 6 to 9 months before they will try to garnish your wages and such.

Bottom line....if the unsecured debt is making it impossible to cover the normal everyday expenses (food, clothing, shelter etc.) then stop paying if you are going to file bankruptcy. You should be able to pay a retainer fee to the attorney of your choice so that when the creditors start calling to ask for payments you can refer them to your attorney. Good Luck!

[mintz]

Thanks for all the input. We have two car loans with a credit union. We are planning on sending one of them back and paying the other off but do not want them to pull the cross col lateralization on us so I am unclear when to pay off the car we are keeping which makes me have to pay on both cars. They can come get the one car, I do not care but i am upside down on that car and hate for them to tack on their losses onto the other car.

[optimistic1]

My wife stopped paying in October/November, we have given the creditors the attorneys name and phone #, all the calls have stopped. Waiting for the suing to come, unafraid, we can file a petition the same day they file a complaint, so they would be wasting their money and time.