partial cc payments?

[jribe]

Should i even bother making partial cc payments? I can't file until May because my husband lost his job in December, and we have to wait for his income to drop off for median income.

We can't afford the full CC payments, and were current through January. I've made a few partial payments for the month of Feb., but know i can't make the full payments.

I thought if i at least do partials, it may stay off some collection calls? Or don't bother?

We've never missed any payments or anything until this month. But realize that we can't keep going how we're going.

Filing for BK is a tough decision; but in the end the "fresh start" will really help!

Any advice on this would be appreciated! Thanks for listening!

[Trixie007]

I made partial payments on 10 cc's beginning the middle of last year, last ones in Dec 08. I don't see that there's any difference in the number of calls, and if you're filing in May, I would say you should stop paying them! They consider a partial payment to be just about the same as not paying at all - when I talk to them, they'll say, oh, you haven't made a payment in xx months, then when I say I have- oh, I see you did make a partial... doesn't make a difference though!

[jktrading]

Any payments you make (full or partial) is an insurance payment against objections. The more months you can pay after STOPPING using all cards, the better. Of course if you cannot afford to, then you can't.

We were able to make 6-7 minimum monthly payments to all creditors because we saw the writing on the wall. After 6-7 months of payments after not using your accounts, I imagine it would be pretty hard to prove you knew you were going BK when you last charged.

Of course, there are people who wait only a minimum amount of time (3 months from last charge), and don't seem to be called on it. I'm just saying the more payments the better if an issue ever arises.

The creditors may not acknowledge a partial payment, but a judge (if it ever goes that far) surely will. It means you are trying.

[StartingOver08]

I would say that it is fruitless to make payments now, UNLESS you have charged on any of the cards within the past 60 days or so. You have several months to save funds by not paying and as pointed out earlier - the cc's consider a partial the same as sending zero - so don't send any!

[Flowers]

do not make any payments, partial or full if you plan to file.
Unplug the phone though.

[Kansas1960]

I am a little confused here...

There seems to be different opinions about how long to pay after you stop charging. If I stopped charging and continued to pay the minimums would the court not see that I have the means to pay? In my case I have been charging about what I am paying each month. I need to do this to get some time behinds some BT and to keep questions from arising. Is it ok to continue to charge equal to what my payments are for months, then stop charging and stop paying? Or do I have to stop charging and continue making the minimum payments for 3 months?

[jktrading]

There seems to be different opinions about how long to pay after you stop charging. If I stopped charging and continued to pay the minimums would the court not see that I have the means to pay? In my case I have been charging about what I am paying each month. I need to do this to get some time behinds some BT and to keep questions from arising. Is it ok to continue to charge equal to what my payments are for months, then stop charging and stop paying? Or do I have to stop charging and continue making the minimum payments for 3 months?

It's better to stop charging and make payments for 3 months minimum, 6 months if possible. However, if you can't do that, I would stop charging and not make any payments as opposed to charging and making payments. The MAIN goal is to STOP charging.

[StartingOver08]

JKTrading is exactly right.

Stop charging at least 90 days before filing. Continue to pay the minimum payment IF you can (since you had recent charges). If you can not pay the minimum payment, do pay at all.

You must have at least 90 days without charging prior to filing.

[cptne33]

I believe the general rule is taht you need to wait 90 days after the last charge before filing. But there are exceptions... for instance - getting laid off is a dramatic circumstance that could force one into bankruptcy without allowing 90 days after the last charge.

[AngelinaCatHub]

Jribe: You have been given good advice and experience by several people who care. I also care.

In my opinion, NOW is the time to put the cards down as once you file, you will not have use of them. How are you paying them now? Stop paying and use only that money at this time. I am a firm believer of Angelfoodministries.com as I find I can live off of $100 a month and have gained six pounds in three months. We have an over abundance of stuff now and can skip a month. It is not gourmet food but vary good quality.

When you make a payment and if you intend to bk, you are throwing good money after bad. I shall NEVER use credit again.

I bounced 20 checks in my bk, never bounced a check in 45 years. My solution was, the checks ran out, I refuse to order more. What do you think of the amount of money I “burned” in NSF charges?

Please consider cash only. If it gets real bad, food stamps and anything but the credit card.

Only my opinion. ‘Hub

[relief13035]

I would stop paying now if I were you. Don't waste the money!

[jribe]

Thanks for the advice. We have stopped using all the cc's since December. My husband lost his job, which is why we are looking at filing for BK in May (so the income will drop for median).

We've been basically living off my income and making the difference with savings. So the minimums i've paid have all been from savings. It was just kind of a shocker when he lost the job in December- and we had already made the charges. So i didn't want to just not pay them.

We still can't qualify for food stamps in my area- you can only make like 20,000 for a family of 2; and my job thankfully is more than that. I did look in to the angelministries; but they're nowhere near me.

Thanks for the help though!