filing bankruptcy lawyer says dont make anymore payments on debt wife wants to pay down debt???Any sugg?

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Posted July 29th, 2010 in Bankruptcy Q and A.

9 comments:

  1. Gem:

    You are paying the attorney and he is the expert. Listen to him unless your wife is a bankruptcy attorney.

    July 29th, 2010 at 3:37 am
  2. Tessie:

    Be very careful. If you pay on a debt that was cleared by bankruptcy, you may end up having to pay the whole amount.

    July 29th, 2010 at 3:37 am
  3. ann:

    Why pay an attorney if you’re not going to listen? If you’re filing bankruptcy you’re just throwing money away. Maybe she is not OK with the whole idea.

    July 29th, 2010 at 3:37 am
  4. hsingh86:

    If you are filling for bankruptcy, dont pay off anything. I worked for bank of america in the past and dealt with bankruptcy lawyers. By not making anypayments right now, it will give you leverage later on with companies to accept partial payments and close your accounts. By not paying, the hope is that basically you can settle and maybe even avoid bankruptyc filling alltogether.

    July 29th, 2010 at 3:37 am
  5. jwilliams22mn:

    We filed 2 years ago. Your lawyer is right, if you keep paying it, it doesn’t look like you are having any problems. However, you will have to back track after your bankruptcy because the companies you did not pay will report that to the credit bureaus. We have recovered very well, gotten excellent loans since then. Good Luck!

    July 29th, 2010 at 3:37 am
  6. kim h:

    You went to a lawyer for legal advise. Listen to him. Your wife is not a good one to ask since you are filing bankruptcy. She should have paid them down before not now.

    July 29th, 2010 at 3:37 am
  7. Lesley:

    Listen to the attorney. You have to list any creditor you’ve paid over $600 to in the past 90 days, so it is very important to stop paying your creditors. Why pay down a debt that is getting discharged? That defeats the purpose and the trustee will go after creditors that you paid too much money to to get the money back to properly disburse to creditors.

    You want to keep paying for any secured debt you have though, assuming you want to keep the property (house, car, etc). If you plan to surrender it, then don’t pay.

    Your bankruptcy lawyer knows what he/she is talking about. This isn’t about trying to get a settlement, this is about complying with the bankruptcy code and having your bankruptcy go smoothly. I’m sure your wife has good intentions, but it isn’t going to benefit you or her to pay down the debt.

    As for what will be reported on your credit report after you file. Once you get your discharge, send that and your list of creditors to each of the three credit reporting agencies. Creditors can rarely be bothered to update them as to the fact their debt is discharged, but nothing stops you from doing it and it’s better to have it listed as discharged than some other negative notation.

    July 29th, 2010 at 3:37 am
  8. Lil Blousou:

    stop all payment if you’re 100% filing BK. It’s just money you’re throwing away. Besides if you can pay, it makes it seem your don’t need BK as much.

    Why do spouses intervene with no expertise?
    Actually maybe she has good values and it just feels wrong to stop sometimes.

    July 29th, 2010 at 3:37 am
  9. Jeff T:

    If you can afford to pay them down then why are you filing a BK? I’m thinking your wife isn’t ok with filing the BK. You shouldnt file it will really hurt you guys in the future, I would at all cost not file even if it ment both of you getting a second job. It’s your debt take responsibility for it.

    July 29th, 2010 at 3:37 am

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