How many monthly payments on a credit card, after the last charge,

tg16

Member

Bankruptcy Newbie

Joined: Jun 2020

Posts: 51

State: New York
#1

How many monthly payments on a credit card, after the last charge,

10-03-2020, 07:41 AM

should you make, to "show" that you had the ability and intention of paying, before deciding to stop paying them? Could it be low as one payment?
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shipo

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Bankruptcy Tutor

Joined: Feb 2020

Posts: 1457

State: New Hampshire
#2

10-03-2020, 07:49 AM

I don't think there is a hard and fast rule; if you purchased luxury items, then the number of payments should be several months, if you purchased groceries and other items necessary for day-to-day living, then the number is significantly lower.

Latent car nut.
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justbroke

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Bankruptcy Wizard

Joined: Jul 2008

Posts: 22995

State: Florida
#3

10-03-2020, 08:04 AM

shipo is on the money.

Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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