Is it ok to stop paying my credit cards?

[limage]

I made a decision to file Ch 7 in about 90 days. I have a recent cash advance on my credit card that I need to put at distance. I took out the cash advance because I don't know when I am going to get my next paycheck (I am mortgage loan officer) and I need cash.

I stopped paying my mortgage in November. I have a short sale offer that I am turning into the lender this week.

My credit card mimimums are about $1000 (yikes). I cant afford to pay them anymore. Ive been borrowing from Paul to pay Peter too long.

Is it ok to stop paying the credit cards now? Should I try to pay a bit longer?

This is a question I forgot to ask my attorney when I met with him.

Thanks!
Cherie

[TEW]

make a couple of payments to the ones you took the advances from and forget the rest.

[magyar123]

make a couple of payments to the ones you took the advances from and forget the rest.

But in the meantime close your bank accounts to avoid any attempts by the ones you're not paying to freeze your bank account/rob you.

[ready2puke]

How often do the cc actually take money out of your checking account

But in the meantime close your bank accounts to avoid any attempts by the ones you're not paying to freeze your bank account/rob you.

without your authorization? I changed my personal checking account. I was going to change my bus. account, but then the bank told me I would have to refile a DBA and that was going to cost me some money. Is it worth it to go ahead and do it?

[sl128]

credit cards & checking acct

Hello all,
I plan on filing chap 7 and I was wondering can the credit card companies withdraw money from my checking acct because I paid my credit card bills online with my checking acct? Can they do that, legally?

[ansky0007]

Hello all,
I plan on filing chap 7 and I was wondering can the credit card companies withdraw money from my checking acct because I paid my credit card bills online with my checking acct? Can they do that, legally?

Upon making the decision to file I cancelled my bank account and I had over 20 attempts to withdraw funds from the account after I cancelled all automatic payments etc. I guess they can say oops when they hit your account for payment and good luck getting the money back if it happens.

[ready2puke]

Hummm...sounds like I'll be refiling a DBA. I dont want to take a chance with these scumbags taking any money out of my act.

[paintinrosesred]

ready2puke,
I would check with your bank again. Doesn't make sense that you would need to file another DBA when all your doing is cancelling your account with the bank.

[ready2puke]

Its not the canceling of the currant act. its opening another account

They need a current DBA to open another checking account. I need a bus checking account for the biz. They said its not up to them, I've been with them for years. They said its the law...

[paintinrosesred]

Yes, you need a dba to open a business checking account. I just wouldn't think that you couldn't open another account with the same dba...

[TEW]

Ok i filed and did not close any accounts and NO ONE took money from my accounts...

[sl128]

So it would be safe to say that I need to cancel my current checking acct and open a new one, with the same bank of course?

[ready2puke]

Oops maybe I forgot to say my DBA is expired.

Yes, you need a dba to open a business checking account. I just wouldn't think that you couldn't open another account with the same dba...

Actually expired 10 years ago...

[paintinrosesred]

OH!!! Didn't know that dba's could expire. Interesting!! Thanks for the info!

[ready2puke]

Actually they last 5 years at least in Ca.