Making plans...what's wrong?

[nervous1]

I just read in another thread that someone's attorney told them not to close accounts, etc., because it looks like you knew "what was coming."

However, I've also read that you need to prepare for BK.

Doesn't that include closing accts. that you know collectors might be able to get (via cross collaterilization, etc.)?

In the last two weeks, I have closed my cking accounts at two banks where I also have cc's. I opened up a new acct. with a bank that I have never had any business with before. On the advice of the attorney I met with, I have stopped making any cc pmts.

Now, is this going to look like I planned my BK? I didn't. I just reached the point (finally) in the last 2 weeks where I knew that I just couldn't keep paying my cc pmts. It was taking all my $$$. When I decided to stop making the cc pmts., I was afraid that one of these banks would pull the pmt. from my cking account.

[krautrocket]

My attorney advised me to do the same. I expressed the same concerns as you, his response was that most people filing have not made payments for several months...

[ssmdem]

I read the same thread and had some of the same thoughts as you. But every attorney we talked to said to close accounts with banks that you owed money to. Each also said to quit making payments once we were sure we were going to file. I wouldn't worry about it. You're doing the right thing.

[Exployer1234]

If you are going to file Bk then it is pointless to keep paying you CC's. Also you do not want to have money in a checking account that is associated with a creditor. The courts will not look down upon you switching banks, nor will they even question if you stop paying a cc. I filed bk in April of this year. The last cc payment I made was early 2009 I believe. If you had the money to keep paying your cc's and other loans then you would not be considering bk or filing bk. It does nothing for you if you pay your cc's once you file bk. Your credit score will be rebuilt over time and once you go into bk your credit report will say included in bankruptcy on the accounts.