using CC's before filing

[Brighterdays]

Here is a thought/question. another poster on a nother thread brought up a very interesting thought:

"I think there is some validity to the idea of waiting for the CC to charge off and sell the balance to a JDB, should take care of this problem."

Does this mean that it is less likely for a CC company to object if they have sold off your account? That is the question of the day. Any thoughts on this would be greatly appreciated.

[StartingOver08]

Yes it is less likely because the cc's charge off your debt 6 months from date of last activity (payment). Then they either assign the debt to a CA or sell it to a JDB.

6 months is twice as long as the 90 day requirement by the BK court

[relief13035]

It has been 6 months since your BT last Sept. right and you have been making the minimum payments since the BT right?

Don't waste your money making payments. Just stop making those minimum payments now and use that money to pay your utilities, food etc.

Many of us have been in the same situation as you are in and it's no fun. We cut our TV down to the basics after having all the channels forever. I canceled my blackberry package on my cell phone to save another $30 per month. I decided that I could live without my emails coming to my phone for now.

Believe me - I LOVE STUFF. I have never had to live on a budget in my life. I am actually proud of myself for changing my lifestyle and making adjustments.

Try to cut back on everything you can think of and file as soon as possible.

[OhioFiler]

I decided that I could live without my emails coming to my phone for now.

No way!

[Brighterdays]

Wow, now the 6 month thing makes sense. I wonder if there is a way to accelerate the collection process? You know, like tell the guy there is no way you are ever going to pay this and you might as well send me to collection. or turn off your phone and change your number so they cant get in touch with you.

[OhioFiler]

Turn off your phone and they'll call your family and neighbors looking for you.

[Brighterdays]

neighbors are unlisted and family lives in another state.

[StartingOver08]

Its called skip tracing - you would not believe what can be found on the internet!

[Brighterdays]

yeah, you are correct. I would just like to accelerate my Filing time and to avoid any AP by the CC company. I was just wondering if there was a way to accelerate them turning my account over to collections.

[relief13035]

Quote:
Originally Posted by relief13035
I decided that I could live without my emails coming to my phone for now.


No way!


LMAO - I'm over the withdrawals, but it wasn't easy.

I gave up manicures and pedicures (for now) also. I've been a spoiled primadonna forever and I admit it. If I can makes sacrifices, anyone can.

[keepmine]

Creditor objections are pretty rare. Take that out of the equation for the time being.
You have to start thinking about life post bk without access to credit cards. Stop paying {and using} the cards and use the money you were sending to the cc comapnies to pay for your living expenses. If you can't make ends meet doing this, you got a problem bk can't fix.

[SBayBruce]

I am in a similar situation sort of-I am not working right now, and without at least a gas card and one bank card in good standing, i would not be able to buy gas, which I need for driving around looking for work, so I am still paying those (miniumums) and charging as alittle as possible. In my last BK i had to do the same thing, and I explained to the trustee why--this time I am sort of worried, due to all the changes, what if you get an "a" hole trustee, etc, but I don't really have a choice......

[OhioFiler]

I am in a similar situation sort of-I am not working right now, and without at least a gas card and one bank card in good standing, i would not be able to buy gas, which I need for driving around looking for work, so I am still paying those (miniumums) and charging as alittle as possible. In my last BK i had to do the same thing, and I explained to the trustee why--this time I am sort of worried, due to all the changes, what if you get an "a" hole trustee, etc, but I don't really have a choice......

Gas may be purchased with cash.

[SBayBruce]

Gas may be purchased with cash.

Very true, but here's my problem:

I now have about $312 in the bank my next unemployment check is due this week (oh, by the way i'm in california, where they raise our taxes and cut our benefits) for $646. My rent and utilities total about $1100, due the first of the month, then there's car insurance, and hmm oh yeah, food....believe me if I could pay cash for gas, or anything else, I would. If i had not been cheated out of my insurance, and incurred a $75,000 hospital bill due to heart failure, I probably could have postponed, or found an alternative to Bk, but, well, thats life, not always fair

[Rumpole]

I have had to use my cc's to pay for essentials; gas, food, utility and phone/tv/internet service bills on a monthly basis.

If I file for chap 7 how will this be viewed?

Thanks all for your replies.

I think I understand, it is best not to charge anything for 90 days before filing. That means don't file at least until 6/26/09. Also stop making CC payments. One question tho, if I charged something yesterday then don't make any payments on the cc, won't that be viewed as fraud? (I charged with no intention to pay?) Actually at this point I'm not sure what I will do, I don't meet with an attorney until April 7.

Rumpole