Would you make any more payments on this card?

[Naomi]

Just trying to get an idea...I know this is not legal advice. I plan on going in for a consultation with a lawyer later this month after I fill out the multiple pre consultation pages of paperwork.

So, it's a Mastercard - balance of $16,000 - my highest balance.
Last used for a purchase Dec 2008. I did a cash advance in Mar 2009 ($500)and honestly can't even remember why. Before that did a cash advance of $750 back in Aug of 2008.
The minimum payments are about $250/month.

Ok, so this is what is causing me major stress when I try to think about not making payments...the cc is with USAA which we also have our mortgage, heloc, homeowner's insurance, truck loan, and car insurance.
The truck we want to keep...the house we want out of.

We most likely will not file until Feb 2010 at the earliest. I'm scared to stop paying this credit card because of all the other things we have through them and don't know how that's going to affect it all.
But, in order to pay a lawyer we can't keep paying $250/month on this one card.

Thanks for listening/reading if you made it this far!
This is my main stress right now. I've almost convinced myself to not pay on the other cards (except one) next month. I've already made the July payments.

[DeadManCrawling]

If you stop paying the other cards, will that allow you to save enough to get the attorney?

With cross-collateralization, and the number of debts you have with this one company, I suspect all kinds of nastiness could arise from this one card. If you are filing, you will eventually have to stop paying of course, but that is probably something you should only take an attorney's advice on.

[keepmine]

Aug. is just 7 months away. Personally, I'd stop paying the card and let everything from USAA go in bk. If they insisted on reaffirming the cc to keep the truck loan, I'd let the truck go as well.

[Naomi]

We owe $8000 on the truck - if that makes a difference regarding the suggestion of letting it go. It will be <$7000 by Feb.
I've read so many times of people doing a ride through on here with an auto loan....I guess that's what we were planning on doing.
I didn't think we would have to reaffirm the credit card to keep the truck?

Yes, we should be able to save up enough to pay an attorney once we stop paying the other cards. Even if we continue to pay this Mastercard.

[Trixie007]

Definitely I would stop paying that card - you're only 7 months out, and the $500 BT is tiny compared to the balance, plus you've already made the "good faith" payments! The 2008 BT is a non-starter either way.

[Naomi]

Thanks for the responses.

I would not even worry about this except for the fact that we have so many accounts with USAA.
I'm sure they'll notice if I stop making credit card payments, but continue to pay my mortgage, heloc, truck payment, car insurance....
I'm sure they will stop my online access so will make it harder to pay all those bills.

[GeG_Lost]

I know this is a little late, but we owed USAA about $80,000 in various products. We were initially going to reaffirm one auto loan with them and they did not attempt any cross collateralization. In fact, it was a straight forward continuation of exactly the same loan terms. They have also never cancelled our online access, but I recently read on a couple other sites they are changing some of their policies on that and continuing insurance products due to the economy. I am not sure how true it is, but it might be worth researching.