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    Paying off a card before filing

    I have 20+ cards, 20k in debt that will soon avalanche on me

    I can pay off one card for $500. Would it reflect negatively on me somehow in the proceedings is I too k the opportunity to pay of one card?

    I am so afraid to do anything wrong, but the guilt is overwhelming and it would be nice to do right by someone, unfortunately, I can only pick one

    #2
    I get your guilt. However, the next several months will be tight for you. That 500 dollars in my humble opinion would be better spent on necessities to ease your situation. Go stock up on groceries, get medical or dental work you have been putting off getting done, put it toward your attorney fees, fix your house etc. At the end of the day the 500 dollars would have a much larger impact on you and your family than it would any credit card provider. Of course I am not telling you what to do. There are plenty of people more well versed on whether this would be an preferential treatment or not so I won't go there. Consider this though, if it is a preferential transfer, the trustee can and may well take it back from the CC company anyway. This would cause them more headache in the long run than never having received the payment.

    If your true reasoning is "hoping" they wont cancel your account because you paid, many will cancel regardless without a second thought as to your sacrifice and regardless if you have a zero balance, that is like Russian roulette in my opinion. Good Luck from a fellow Debtor.

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      #3
      Would it "reflect negatively on [you] somehow in the proceedings" if you pay off the $500 card. Of course not. However, it would be a complete and utter waste of money, because even if you pay off the card to a zero balance, the creditor is almost certainly going to close the account anyways once your bankruptcy hits the credit reports. You will have spent money which you aren't legally required to pay, and which would be better put toward your living expenses, and gotten zero benefit from doing so.

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        #4
        Originally posted by ch7downhill View Post
        Consider this though, if it is a preferential transfer, the trustee can and may well take it back from the CC company anyway. This would cause them more headache in the long run than never having received the payment.

        If your true reasoning is "hoping" they wont cancel your account because you paid, many will cancel regardless without a second thought as to your sacrifice and regardless if you have a zero balance, that is like Russian roulette in my opinion. Good Luck from a fellow Debtor.
        100% agree, there is absolutely no point in paying any creditor. And they will for sure close your account regardless of it's standing. I had several accounts with zero balances and perfect payment histories, they shut down as soon as I filed with a note about bankruptcy. My entire report still says zero accounts after discharge, due to waiting on the acceptance of my auto's reaffirmation agreement (which can take awhile). But it's all gone, even my mortgage. Don't do it.

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