I just hired an attorney to assist me with Chapter 7. I mailed him the completed documents he sent me as well as the $200 deposit. I will be making a payment to him in Feb and Mar to pay for his fee. At that point - in March - he will file the documents. Then a month or so after that we should have the 341 meeting. That will be approximately 3 months from now. Up until now I have made on time minimum payments on my credit cards. I have stopped making payments/transactions as of a few days ago. Obviously the balances on the accounts will change over 3 months - late fees & all. Will that be a concern at the 341 meeting?
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Don't stop making payments on your bills until the bankruptcy is filed. You're not under protection of Automatic Stay until that time. If you pay all your bills on time, then file bankruptcy, then stop paying your bills, your FICO scores will be a lot higher after the bankruptcy is discharged. A lot higher. That's really important because there are several lenders who will give you 100% financing one day after a chapter 7 is discharged if your middle FICO score is 600 or higher.Raymond
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Don't worry about the differences in balances (as long as you DON'T use your credit cards). Also, you CAN stop paying your unsecured debt (i.e. credit cards) if you wish. You are declaring BK, so why throw good money after bad. But you need to keep paying your secured debt (mortgage/rent, car payment, etc), and utilities. However, Rainmand has a point about the credit score, if you are current on payments as of the date the BK is filed, you won't incur negative payment history that will compound the reduction in your score from the BK. However, since the reduction in score is so unpredicatble, why waste money paying creditors if you are going to file BK.Comment
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