Credit Card Debt Services Prior To Chapter 7?

[FU2MI]

has anyone done this? Looking at a way to lower the interest rate across the cards and roll all the payments into one. I could probably swing this for a year or so to get some room between the current charges and the bankruptcy (that is the goal, really). just wondering if this is a +/- when you go to file Chapter 7

what are your thoughts?

[TEW]

And why would someone want to take cash advances before you file then have to wait 90 days to 6 months before you can file. If you have missed on payment on any card your interest rate is going to shoot up anyway. That not a good idea.

[ready2puke]

Tew I didnt get that the OP was taking cash advances. I think he was trying to wait a year before filing, lowering the interest rate and paying once a month with a cc service probably trying to avoid any objections. Actually might not be a bad idea...if you really need to wait a year

[TEW]

Tew I didnt get that the OP was taking cash advances. I think he was trying to wait a year before filing, lowering the interest rate and paying once a month with a cc service probably trying to avoid any objections. Actually might not be a bad idea...if you really need to wait a year

your right i miss read that

[FU2MI]

Correct...just wondering if anyone has taken this approach. I'm currently self employed and will soon be leaving the company, my home, (and state) and am just trying to seperate myself from the debt i've already accumulated and the chapter 7 i will be eventually filing. Time seems to be key in avoiding any objections...

Tew I didnt get that the OP was taking cash advances. I think he was trying to wait a year before filing, lowering the interest rate and paying once a month with a cc service probably trying to avoid any objections. Actually might not be a bad idea...if you really need to wait a year

[StartingOver08]

It sounds like a good plan, then you will not have to put up with the calls. Your debts will be paid on a highly reduced basis because these DMP reduce the interest rate substantially. You can do the same plan yourself without a DMP with a reduction in interest rate and no fee, but you then could not consolidate into one payment. It is up to you. I think it is a good way to distance yourself in time from your charges.

[FU2MI]

Thanks for the input guys! Well see how it all pans out in time...