Question about Credit Card preference payments

[Frogge]

I read a long thread about how American Express is not BK friendly.. we've had an Amex card since 99-- limit of $26,000 balance now $2,800 and DH wants to pay it to $0 and try to keep it when we file by ''talking to them''. After reading that thread I told him it probably wouldn't do any good.

Sounds to me like none of these large CC companies will survive through the BK. So, I'm just reasoning that paying off the small ones (2-3 under $1000) might be a good idea.

Would these payments be considered "preferential"? If it's over 90 days before we file? Thanks for your comments.

[keepmine]

Honestly, it's unlikely that any of your cards will survive bk. I'd not pay any of them off prior to filing. It's just a waste of money.

[Frogge]

So if I had some recent charges would it look better if I paid those cards? They won't be included if $0, and would ones I paid payments to be less likely to give me any objections? Just trying to prepare..

[Cali]

If the purchases were over 500$ then you might want to pay some, but other than that I don't see the reason behind using money on something you are going to file against. You can use that money for other things, like attorney fees or basic needs.

[keepmine]

To add to Cali's thoughts, if you are about to file bk and still having to use the cards, you have problems bk can't fix.
Don't file until you can support yourself on your income.

[Frogge]

To add to Cali's thoughts, if you are about to file bk and still having to use the cards, you have problems bk can't fix.
Don't file until you can support yourself on your income.

Thanks for the responses. We can support ourselves on our income, we just weren't sure if or when we would be filing when we made these purchases, and more importantly, didn't know that soon we would stop paying CC's to become cash-only soon. We really should have purchased these things with cash in the first place so I think I should just pay the amounts we charged, at least. I haven't talked to my atty. yet so I don't think I should stop paying until he tells me. We aren't using CC's anymore as of 2 weeks ago.