When do I stop paying CC's?

[rogue182]

I have decided that BK is inevitable. I am current on all cc's at this time. I know I must stop using them some amount of time before filing but I can't afford to stop using them until I stop paying them.

I have appointments to speak to attorneys next week but I also have several payments due next week. Should I wait until after speaking with and choosing an attorney before I stop using & paying?

Thanks

[frogger]

I have decided that BK is inevitable.
Thanks

Then it's time. Time to stop using and time to stop paying.

Since you know that you are filing bk, do not use them again.

[rogue182]

Thanks for the advice. Sounds great, actually doing it will be very hard!

[outofdebt201]

Then it's time. Time to stop using and time to stop paying.

Since you know that you are filing bk, do not use them again.

That is sound advice, my lawyer said the same thing. Why through money down a rat hole, when you know your filing BK.

Good luck and keep asking those questions.

[Logan]

I have decided that BK is inevitable. I am current on all cc's at this time. I know I must stop using them some amount of time before filing but I can't afford to stop using them until I stop paying them.

I have appointments to speak to attorneys next week but I also have several payments due next week. Should I wait until after speaking with and choosing an attorney before I stop using & paying?

Thanks

You do not have to stop paying your cards to file BK. I didn't because I wanted a clean credit history and I've found it relatively easy to rebuild credit since my BK.

Many here will tell you to stop now but you need to way the pros and cons.

Logan

[outofdebt201]

You do not have to stop paying your cards to file BK. I didn't because I wanted a clean credit history and I've found it relatively easy to rebuild credit since my BK.

Many here will tell you to stop now but you need to way the pros and cons.

Logan

[rogue182]

If I stop paying cc's I will be able to meet all budget obligations including my mortgage. I might even be able to save a little. Paying all cc's leaves me in the red causing me to use cc's to make up the difference.

[blessed]

We were in the exact same situation. If I didn't make the payments then I actually had money left over to save some. It wasn't easy, but once we decided we were going to file, I canceled all of the auto payments scheduled for the month and we went out to dinner!

Here's the thing, during this phase you need to learn to live on cash anyway. Not paying them will give you an idea of the income you'll typically have after bk. If you can budget that amount and be able to save some, you'll succeed.

Best of luck!