When should I stop paying my credit cards?

[kirk44]

I am about to file Chapter 7 in the next month or two....I have about $10,000 in cash in my checking account and no other assets....and I live in Georgia. My bankruptcy should be easy...no other assets, no other debts besides credit cards.

I've been paying on these cards for years, and still have 4% and 5% life of the loan interest rates on them.....so for me to miss a payment is really taking a plunge.

Thanks in advance for any help....this forum is great!

[newbie2]

Most people stop paying when they know they are going to file. There have been a few people that continue paying up until close to filing, so they don't have those "30 day lates" on their credit report along with the bankruptcy filing. I don't know if it makes much difference in credit scores or not.

[frogger]

If you're sure that you're going to file within the next couple of months, stop paying the cards now. You are just throwing money away.

[keepmine]

Be sure that $10k in cash can be exempted before you file.