When to STOP paying credit cards

[jb4lcm]

It seems to me that IF I can make the payment this month and next, but I KNOW come winter I will NOT be able to pay them due to owning a seasonal business that is not performing up-to-par and not creating any where near enough "fat" to survive the winter, shouldn't I stop NOW?

And just because I'm new here too, don't you need to wait for a judgement from a credit card company to be filed BEFORE you file BK? Meaning, going thru the collections process is the FIRST thing I need to do and get the judgement IF I file BK? (I really cannot believe I am in this position)

My biz credit card company (Wells Fargo) calls every day and I'm only 3 weeks behind. They say there is NO HARDSHIP RELIEF available for me at all (unsecured - signature account). And even though there is admittance by the business banking division that THEY made an error that resulted in my interest rate going from 7% to 21.99% - the credit card division said "too bad, WE didn't make the error - the business banking side did". So I got stuck with 21.99% on $30K opposed to 7% that is on the other $20K. As I understand, the ONLY way to begin negotiations with them to lower the rate and try to do ANYTHING different is to let it go to collections. Is this right?

JB

[PoorNow]

you can file even if there is no judgement against you. If you know you will eventually file, then stop paying the credit cards now and save that money up for your BK attorney. We are just in the middle of it. Our 341 is June 24 and we stopped paying our credit cards over a year ago. The calls are annoying, yes but they really cant do a thing to you except bug you.

[jennywren]

I had a Chase card that they changed my min. payment from 2% to 5% which increased my payment 600 a month. I jumped through the hoops they wanted me to by having a phone conference with a debt consolidation place they referred me to. After the debt consolidation place said there was nothing they could do for me, Chase now wanted to work with me. They closed my account and placed me on a repayment plan for 5 years. My interest rate was lowered to 2.9% and my monthly payments were $100 less than what they were before this all started. I think I called Chase about once a day until they finally would work we me. After all, that is what they do to us when they want something.