Bookkeeping

[Anon]

Filing Chapter 7. Stopped paying credit cards in March 2010. Have LLC. Once I stopped paying the cards I stopped listing the interest as an expense because I knew I wouldn't be paying the cards and now the result is that it appears I am making more money. I don't know if I should continue to list the interest expense as, technically until I'm dismissed, I still owe that money. If I do list it shows my business as having a greater loss (which I want). I don't know what to do legally...

[newbie2]

Filing Chapter 7. Stopped paying credit cards in March 2010. Have LLC. Once I stopped paying the cards I stopped listing the interest as an expense because I knew I wouldn't be paying the cards and now the result is that it appears I am making more money. I don't know if I should continue to list the interest expense as, technically until I'm dismissed, I still owe that money. If I do list it shows my business as having a greater loss (which I want). I don't know what to do legally...

In a normal bk filing you don't list the credit card payments as part of your expenses. I would imagine since you haven't been making payments that interest accrued since you stopped couldn't possibly be considered an expense now.