Heloc

[ohantonio]

While I am preparing to file, I have stopped paying my credit cards, do I continue to pay my HELOC ($4000 or so).

thanks for the input

[drowning123]

Do you want to keep the house?

[ohantonio]

Yes, we are current on the house & have some equity

[drowning123]

Then continue paying the HELOC. Also, are planning a 7 or a 13? You must be current to have any chance to keep the house if you're planning a 7. If you're planning a 13, you can't strip the HELOC since you have some equity.

[SunshineGal]

Since you are keeping the house and have equity, you want to make sure that payment stays current. Also, since a HELOC is a secured debt, it won't fall under preferential payments.