Do we keep paying Credit card/loans? We are about to see a lawyer.

[saliamathis]

Hi all,

I am helping my father with filing for bankruptcy. He currently is paying about $6000/mo to credit cards/loans. We don't even have enough to cover just the household expenses + mortgage at the moment.

We have an appointment with a bankruptcy lawyer in mid-april.

I saw on here that if we cannot afford to continue making payments on the credit cards we should stop doing so. Is this true?

and, VERY IMPORTANT- does the same apply for the loan payments (not house loans)?

We have 3 loans separate from the mortgage and want to know if it is OK to stop paying those as well. Our highest priority is qualifying for bankruptcy and having it go smoothly. We have already stopped using all credit (cards and loans) even for day to day expenses.

Thanks very much for your help in advance!

[frogger]

If you're filing for bk, stop paying all unsecured debt first. Then, evaluate what you are going to try to keep and remain current on those. Everything else? Do what you got to do.

[csonly]

I agree, pay the necessities first, like house payment, car payment, food, etc. Credit cards are at the very bottom of priority list.

[saliamathis]

Thanks guys very much for your responses. I am posting another question today with regards to secured vs unsecured debt.