Late Payments - When to File?

[Teddy]

I have another question -

I would like to file on April 4 or April 18. If I can get the $ to file on April 4 my payments on my cc's will basically not be late at all.

Should I go ahead & file if I can (I just want to get it filed!) or wait until the 18th? Or won't it matter either way?

Thanks!

[HHM]

It doesn't really matter.

I suppose on the margins, if you can get your case filed without having any late payments reported, your credit will improve a little faster after your BK is discharged, but, because we are only talking about 1 round of late payments, it really won't matter that much.

[Teddy]

thanks!

That's interesting - my husband thought I should wait because it would show more financial stress if they were late, but I told him they really don't even know if you are late since they don't look at the credit report.

I'm going to push for the 4th then - If I do that, I might have a payment or 2 be only a few days late.

Now I'm in a huge dilemna with my car, I have to read on the car forum.

[halloweendmb1]

thanks!

That's interesting - my husband thought I should wait because it would show more financial stress if they were late, but I told him they really don't even know if you are late since they don't look at the credit report.

I'm going to push for the 4th then - If I do that, I might have a payment or 2 be only a few days late.

Now I'm in a huge dilemna with my car, I have to read on the car forum.

A payment is only late on the credit report once it is 30 days late. Credit reports don't go by the due date on the statement so you might not be late at all

[Teddy]

Ok, so I really could just wait until the 18th and they still probably wouldn't even show late. Thanks!

We owe taxes and I'm so tempted to put it on the cc, but I won't. I would feel bad.

[diviaruba]

Ok, so I really could just wait until the 18th and they still probably wouldn't even show late. Thanks!

We owe taxes and I'm so tempted to put it on the cc, but I won't. I would feel bad.

Not only would you feel bad, but you would still have to pay it. Any tax obligation paid by credit card in the previous three years is not dischargeable through bankruptcy.

[butterflywings]

Guess I should feel bad for charging almost $10K in one month on my BOA card that they jacked up to 32.77% and then not making any payments on it...

Maybe not bad but I'd be a little scared if I were you.

BOA has been known to object and they won't take too kindly to you putting 10 grand on their account and not making a payment. Even if you wait the obligatory 90 days to file they can still object claiming fraud. Their case wouldn't be hard to make on it's face value. Did you tell your lawyer about this?

I'd put a lot of time in between that charge and filing.

[Teddy]

Divaruba - thanks - I didn't know that!