Subscribe to our mailing list

X

Should I Stop My Payments if I’m Going to File Chapter 7 Bankruptcy? – Mandy

By on April 10, 2013

“Dear Steve,

I’m over 19,000 in debt and am considering on chapter 7 bankruptcy….

I’d like to know can I stop all payments and if so, will I lose my car, which I need? And will I have to pay an attorney up front?

Mandy”

Gratuitous use of a cute dog running picture.

Gratuitous use of a cute dog running picture.

Dear Mandy,

You should not do anything without first meeting with a local bankruptcy attorney and coming up with a game plan based on your situation.

Most people do not lose their car, but again, each situation is different.

You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.

Once you meet with the bankruptcy attorney and decide you are going to file they will typically advise you to stop paying your creditors and save up that money for their fee. But don’t do that until you and your bankruptcy attorney are one the same page.

Please post your responses and follow-up messages to me on this in the comments section below.

morehelp1 Choice1 Choice2 Choice3 Big Hug!
Get Out of Debt Guy - Twitter , G+ , Facebook
If you have a credit or debt question you'd like to ask just use the online form .

READ  My Heart Problem and Change in Health Insurance is Unsustainable

Last step, fill out the information below or call us for Priority Assistance.

What problems are you having with your report?

Your first name is required. Your first name is required to be at least 2 characters. Your first name cannot be longer than 50 characters.
Your last name is required. Your last name is required to be at least 2 characters. Your last name cannot be longer than 50 characters.
Your email is required.
Your phone is required. Your 10 digit phone number is required.
Your state is required.
Your age is required. Your age must be greater than 18. Your age must be less than 100.

By clicking on the "Contact Me" button above, you consent, acknowledge, and agree to the following: Our Terms of Use and Privacy Policy and to receive electronic communications. We take your privacy seriously. That you are providing express "written" consent for Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS - charges may apply), even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list. Consent is not required as a condition to utilize Debt.com services and you are under no obligation to purchase anything.

By clicking on the “Contact me” button above, you consent, acknowledge, and agree to the following: (1)That you are providing express “written” consent for Lexington Law Firm, Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS – charges may apply), or dialed manually, at my residential or cellular number, even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list; and (2)Lexington Law’s Privacy Policy and Terms of Use and Debt.com’s Terms of Use and Privacy Policy. Consent is not required as a condition to utilize Lexington Law or Debt.com services and you are under no obligation to purchase anything.

About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  1. Mandy

    April 10, 2013 at 7:43 pm

    I’m confused Amber… Your attorney advised you to pay them with the money? What money? Also, Steve’s comment I took as NOT to pay…?

  2. Amber

    April 10, 2013 at 4:24 pm

    I too wondered if I should stop payments before filing bankruptcy. When I did end up filing, my attorney advised me to pay them with the money just like Steve said.

Share a Comment / Leave a Reply

%d bloggers like this: