cash in the bank while not paying cc

[Moneypenny]

Hi,

I have holes in the roof of the house i am keeping after bk, and just about enough cash to pay to fix the roof. at the same time, I am stopping paying credit cards because i cant swing it anymore. i was planning to file bk in six months.

Are creditor objections or any other problem ever based on how much money you have in the bank at any particular time? I have like 7000 in the bank and about 2000 in cc payments due at this point. Is this bad that I am not using the cash on hand to pay cc first?

I havent made any charges in at least a month except amazon hit me with an autocharge of 75 and also two 20 dollar autocharges i forgot to cancel.

thanks!

sleepless mr. Moneypenny

[fooked]

fix the roof... you're good

[HHM]

Your keeping holes in your roof after BK (I know, grammar is a *****)?

Just be sure to take pictures of the damage first. The creditors will not object, but the trustee could object if he thinks the work was more of an "improvement" than a "repair."

[Moneypenny]

thanks hmm!! i never thought of that. i have at least one hole i can photo from the garage its easy to see.

but this raises a general question: can the trustee object if you have money in the bank while you are not paying your cc debt, just throwing out the part about the roof?

As I said I have about 7000 now in the bank and 2000 in payments I am not making, the first ones I have ever been late on in my life.

there is a chance I might not have enough for the roof, and this 7000 might sit here for some time or perhaps the whole 6 month run-up to the bk. Note: I am in CA and believe I have this covered in exemption when it gets to the bk.

otherwise i dont know if you can comment on this but the situation is I have wood shake roof that is 24 years old, well past its lifetime. I need to re-roof the whole roof (with the cheapest composite). Since it is known that a 1985 wood shake roof should not last into 2009, will that be good enough to justify a whole re-roofing? I should have said from the start that I am re-roofing.

those are a mix of very specific and general questions... thanks so much!

[Moneypenny]

ps I also believe the holes in my roof are exempt in CA and I can keep them after the bk. Although I wouldn't put it past BoA to try and take my holes.

[christine12]

ps I also believe the holes in my roof are exempt in CA and I can keep them after the bk. Although I wouldn't put it past BoA to try and take my holes.

classic, LOL! I love it. ROFL