met with 2 lawyers today,more confused.

[brokeone]

Hello everyone,
Well,I met with a bankruptcy lawyer & a lawyer who is not a specialist in bankruptcy.The bankruptcy lawyer said to stop paying on credit cards and prepare to file,and the other lawyer said that since I had not missed payments,and didn't have collections on my butt,the trustee would say I'm capable of paying my bills and would not grant a bk7 and throw the case out.The only reason I haven't missed any payments is because I'm living off of my credit cards for food,gas,and everything else.I'm lost.I'm afraid that due to the size of my debt,I'm going to get sued if I just stop paying.I'm going in circles,please help me make the right decision.Thanks in advance to all who respond.
brokeone

[HHM]

The bankruptcy attorney is correct. The other one, although he has a point, doesn't seem to understand BK law very well.

[jeslyn]

Well, based on what you've just written, it seems to me that you could just stop paying your credit cards and live off the amount that you were paying them each month. I don't know if what you're paying is equal to what you're charging. I hope that helps :o . Good luck to you, I've lived off my credit cards before...taking out cash advances and using that to pay the bill. It was a horrible time being unemployed (don't know if that's your situation). Let us know how it goes.

I just joined this board and I think it's a wonderful support tool.

[brokeone]

Thanks HHM and jeslyn,
you are correct with my thinking.I am retired and draw social security.My wife is also retired.My credit card & personal loan debt is near $50.000.At the beginning of the month when I finish paying off my debts to the credit card companies I have approximately $300.00 left for every other thing I need for the rest of the month.When the $300.00 is gone,I use my credit card again.I am paying out over $1000.00 per month in credit card & unsecured loan payments.I could easily regain my life if I was not paying the loans & cards.I am afraid though,that if I just stop paying,the card companies are going to come after us for our house which we don't want to lose.On some of my cards I owe $11,000.I feel terrible about this mess I've created.I seldom sleep,and I know I'm getting an ulcer.I'm ashamed,and just wish I could resolve this .Do you know how they will come after us if we stop paying?Thanks for helping me.

brokeone