Should I use convienence check or not????

[mesa777]

I don't know what to do here, someone please give some advice... Currently 3 days behind on my 1st mtg and 3 months behind on my second.... What's the worse case situation if I use a Discover Card convienence check to help me get caught up with those items?? Probably for no more than around $2600..

If I wait


Have been current on every bill up to a few months ago, have not paid BoA for six months and have a cc bal of $30k. Should I jus file now? Want to stay in house as long as I can. Want to file a ch7 and then try to save some $$$ to rent a small place... Any feedback will help, I do work however bills are getting hard to handle, cutback in overtime, 3% paycut, Discover keeps sending me these checks even though B of A is not getting paid.

What is the word case situation if I use one of these checks to put in my checking accont and pay more motgages? If I wait 70 days will I be screwed? Anyone... I know I ask.

[catleg]

Are there any other bills or expenses you can put on Discover to free up cash from other purchases? I would be cautious, however I would think about using up that Discover while you can. Do you owe any taxes? Pay with Discover.

[mesa777]

I have a bal now of around $4400 on Discover and at the most would write a ck for $2700 to pay my first and second mtg payments, use the rest to help cover job expenses while I try to save up from my paycks Febs mtg payment..

I know I ask lots of questions on here.. I just want to keep my home and stay above water here as long as possible... just like all of our banks in this country are now doing. Discover has sent me over 80 convience cks in the last six months to a year..

[catleg]

When are you thinking of filing? What's the split on the 1st and 2nd payments? I imagine the 2nd is more critical than the 1st.

[Trixie007]

If you are letting the house go, why pay anymore?? It sounds like you want to file in two months anyway, and chances are very much in your favor that no foreclosure action will start in that time. We stopped paying one house in May - they started foreclosure in Dec. The other we stopped in June and they filed in November. From the time they record the NOD (in California) it's another 90 days til sale. That's assuming no temporary stay from BK happens (which it won't in our situation - but might in yours?). Do you know what the timelines for foreclosure are in your state? It might be worth just waiting until you get the 10 day notice of foreclosure, then filing. Hopefully that will give you enough time to save a little.

[catleg]

Trixie is spot on here. I doubt it makes sense to pay the 1st.

[mesa777]

I want to file a ch7, have read the the house payments need to be up to date. I want I foe a 7 than stop paying so the I can concentrate on saving money to get a new place to live and avoid having the trustee from taking those funds:..

[keepmine]

Mesa, you can't have it all. You've been talking about bk and convoluted schemes to buy some time for a year now.
Honestly it's just time to file. The well's run dry. It just makes no sense to borrow money to get current on a house you'll discharge anyway.
Stop paying everyone and use those funds for living expenses. Stay in the home until they foreclose. Use your tax refund for living/moving expenses.
We keep preaching around here that you need to get used to using cash and actually living on an austere budget before you file. You're an example of why this is important.

[heyu]

Just my opinion here but I think that if you write that check it might not be honored, this is something that has been happening to a lot of folks, credit cards cutting them loose.

[justbroke]

Mesa... if you're not keeping the house it's not worth paying. Let's back up anyhow. If you're using credit cards (and credit lines) to pay your mortgage... you are in trouble and getting in more trouble fast. I know... I did the same thing.

In the end, you're just delaying the inevitable. That is, that you are insolvent and spend more than you make.

[arkienurse]

I want to file a ch7, have read the the house payments need to be up to date. I want I foe a 7 than stop paying so the I can concentrate on saving money to get a new place to live and avoid having the trustee from taking those funds:..

House payments only have to be up to date if you want to keep it. Since it sounds like you plan to let the house go, and you should be able to file in a few months, stop paying the mortgage now, and start saving up to move.

[soleprop]

I want to file a ch7, have read the the house payments need to be up to date. I want I foe a 7 than stop paying so the I can concentrate on saving money to get a new place to live and avoid having the trustee from taking those funds:..

you have a few things backwards...

House payments only have to be up to date if you want to keep it. Since it sounds like you plan to let the house go, and you should be able to file in a few months, stop paying the mortgage now, and start saving up to move.

bingo - arkienurse (and the others) are steering you in the right direction. my additional advice: if you're going to be looking for a place to rent, do it BEFORE you file, as almost no one will rent to you while your bk is active, and you may even run into denials once it is discharged/closed. line up your apartment before you file. stop paying for the house you are letting go. sell the appliances for extra money - use craigslist to do so, and take cash only - this makes it harder for your future trustee to track the funds.

also - you have to STOP using the cards, etc. that doesn't help you or your case at all.