Question about store charge accounts

[maxfax3]

I didn't find the magic combo for this to come up in a search, but woudl like to be more enlightned before I go see an attorney on thursday...

I'm a self employed mobile mechanic.. I have a charge account with the local autoparts store.. This is basically a hand shake type of agreement to pay it off within 30days.. I at least pay it off every month usually every Wedensday though... I'll be paying it off this Wed as usual and am going to leave it at a 0 balance if at all possible (slow time of year so I should be good)..

How is something like this handled in a ch7? DO I list it with the 0 balance?? Can I continue to use it dusing the process?? I was going to talk with teh store owner and let him know what's going to be happeneing after I meet with the attorney.. I'd just like to have a little insight so I can know if the attorney knows his stuff and is worth using...

[ready2puke]

I would think as long as you have a zero balance with him the day you file, your ok and dont have to list him. If there is no formal credit card just a hand shake I would think you can do what ever you'd like with his ok after you file...

[jktrading]

I didn't find the magic combo for this to come up in a search, but woudl like to be more enlightned before I go see an attorney on thursday...

I'm a self employed mobile mechanic.. I have a charge account with the local autoparts store.. This is basically a hand shake type of agreement to pay it off within 30days.. I at least pay it off every month usually every Wedensday though... I'll be paying it off this Wed as usual and am going to leave it at a 0 balance if at all possible (slow time of year so I should be good)..

How is something like this handled in a ch7? DO I list it with the 0 balance?? Can I continue to use it dusing the process?? I was going to talk with teh store owner and let him know what's going to be happeneing after I meet with the attorney.. I'd just like to have a little insight so I can know if the attorney knows his stuff and is worth using...

I wouldn't tell anyone else about your BK unless you have to. I believe you are suppose to list all creditors. However, a zero balance account would more than likely be forgotten about, and I wouldn't list it.

My advice would be to NOT USE ANY CREDIT ACCOUNTS AND LAY LOW FROM THIS POINT ON and for a month or so after the BK is over. This is a serious step to do a BK and should not be taken lightly. Most people here will probably tell you to stop using all credit for 6 months or more before filing if possible. The more time, the better.

This "handshake" deal you have doesn't even sound like an official line of credit though, so who knows. I personally, wouldn't take any chances. Perhaps I err on the side of caution, but so be it.

[maxfax3]

Thanks guys, the attorney sort of said the same thing over the phone... Pay it off and don't use it till this is all done.. I guess we'll delve into that further on Thursday...

The current credit cards have sat unused for a tad over 7 months now.. Wish I woulda found this forum sooner, I wouldn't have been paying them in that time either... I have some rather old cc debt that is the main reason I'm looking into a ch7... I made arrangements with a CA to pay on them ages ago and it woudl seem after they got some of the money it would get bounced to another agency that demanded more.. Now several collection agencies later and all sorts of crazy interest tacked on they no longer want to accept payments....

I'm sure you guys have heard this numerous times, Why or why didn;t I explore this option sooner

Ironically this charge account was setup for my self and many others because the owner was tired of getting whacked the fees for accepting credit cards..