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Hmm what are the benefits of waiting an extra month?

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    Hmm what are the benefits of waiting an extra month?

    My last balance transfers were done back in Nov. In early Nov, one was $4500 and at the end, another was $1700. Half went to pay off a card and the other half went into my bank account. I stopped paying on my house in March (for the notice of acceleration already), my car in April and I kept paying on only the cc's I did bal transfers through this month- the others were not paid in April. Next month, none get paid.

    My husband had some random income in March (from his business that is going down). I had been worried about EXTRA self employment questions and extra paperwork that I don't have prepared ect.. He owes these banks money so calling will be an ordeal to get additional paperwork. He never really made a lot in his business over the past 5 years and I actually think that looks bad (why continue doing something you can barely keep afloat and feed your family type thing?).

    Anyway, I just graduated and earned a new "title" in my profession that gives me the ability to make a lot more than what I WAS making. But, I don't want to do the stuff that get's paid well- it is of no interest to me. I like what I currently do and although I can stay at my job in my new title, I still get a raise! The raise is effective this week (it was automatic with that title). I'm worried about them thinking I can go into a Ch 13 with the new raise. So I'm thinking filing in July or Aug will be better than waiting until Sept or Oct because my 6 month income will be lower if I file earlier...

    #2
    it sounds like you alreay have the answer.

    Do you or Dont you want to be in a chapter 13? Some people want to due to stuff they want to keep.

    if so then file before, The balance transfer was done 6 months ago and you have paid on that card, I dont think that will be a issue. If so then dont worry, the worst that will happen is you might have to pay some of it back. out side of the BK. So if that is your worry and if you wait to file then you might be in a worst situation as your income go up and you will be forced into a 13 that might cost you even more that if you have to pay back some of the 4500.00 a chapter 13 goes on for 5 years and you pay 10% on top of that money.

    Based on what you have said i would file right away to avoid any questions regarding income. Dont let that 4500 scare you.

    good luck

    Indy

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