Worried about charge

[MomIcantFindmy]

Here is the situation. I have a Sears card that I have had for at least 10 years. Over those 10 years I paid it off, charged it again and paid it off. I charged about $5000 on a this card in August-October in order to start a business (insurance, supplies, nothing extravagant). The Sears card had a 6 month no payment, no interest window. I did however send them one payment of $200 in September and another payment of around $60 in November. We met with an attorney in late October to consider filing bankruptcy, the business flopped when I got very ill. We finally had all our papers together and enough money to file recently. I am very worried that Sears will file an objection. It is stressing me out quite a bit.

[FreshLikeADaisy]

Mom, I think you are worrying prematurely. IF that creditor did go for an objection, your payment history (incl the pmts you made around the time you considered bk), length of time you owned the card, your illness, your failing business, time elapsed since you made the charges (at least six months), the non-luxury nature of the charges -- all of these would make it *very* difficult for Sears to win their objection. And they haven't even filed one yet!

It is a legitimate concern, definitely, but not much of one when you consider what a creditor has to go through to actually *win* an objection. Have you read the stickies on creditor objections? I think you will be much reassured if you do. Don't let this particular issue stress you out; if they file an objection, then you have trouble. But wait until then to worry, because that day will likely never come.

Here are the links to those stickies I was talking about:

http://www.bkforum.com/showthread.php?t=20075

http://www.bkforum.com/showthread.php?t=20078

Good luck!!!

[PaKettle]

Even if they do file an objection - unlikely since the amount is only $5000 - you would only have to pay $2500 back most likely. But usually a company won't object on that amount of money because it simply is not worth their time, they'd rather go after bigger fish.
Don't worry, the chances are slim they will object.
If you had made no payments, maybe; but since you made a couple, there should be no problem.