Pay off and reaffirm CC? possible?

[signal]

I had posted before about taking out an apple loan on a 0% promo they had which really ended up being a Barclay Visa card. I have only made minimum payment to this card for like a few months, and after that I found out from my wife that our business has basically wiped us out, and my journey to learning about BK started. I know the $3500 i put on this card can cause me pain with a ch7. I am still current on all my cards but can't be for long. If I pay this card though (maybe 2 payments of $1500 or so ) and get it paid off, can I keep it thru the ch7? Since its my lowest balance card, maybe that makes sense, I could avoid any AP and maybe have a card to keep. I would have to burn cash that I was saving to wind down my business with, but I just don't want to make my situation any worse.

[keepmine]

You're wasting your money.
Barclay will close that card as soon as they do a perodic account review and see the bk on your credit report.

[signal]

Well maybe, but at the very least, on a 3500 balance, shouldn't I pay something to avoid an AP? What would be a good rule of thumb? min payment is $35, I paid one or two of those. Should I maybe hit it with 2 months of $500? The earliest I would be filing is mid feb or mid march.

[Chowder]

Paying one over another, as you know now, is preferential payment. Not really an issue for you personally, but it makes for a less smooth BK.

There is no way to know if a card will survive BK or not. Plan on not.

And that 3500 is nothing. If you file when you have indicated you will, it is highly, highly, unlikely it will be mentioned by anyone.

Get one of the freebie consults from an Attorney. You'll have a firmer grasp on what you're up against.

[eddiep]

if you were to make two $1500 payments, this would be considered preferential payments. The trustee would force Barclay to give the money to the trustee to be split with all creditors. If you can come up with 3k, do it the right way... wait to see if they file an AP. I wanted to keep my dell account open to, no luck.

[LimpDisc]

Hold onto the funds you have. If the Apple PC comes up as an asset the trustee is interested in maybe you can but it back.

My attorney said they will looking at assets that can provide a quick sale. I think that almost new $3500 Apple PC will surely be noticed.