Along with not paying for credit cards, should you stop payment on personal unsecured loans before official filing?

Asked almost 2 years ago - Gainesville, FL

I have stopped using and paying the credit card bills that will be included in the Chap 13 filings. I have 2 unsecured loans (peer and non peer). Should I stop paying on these as well?

Attorney answers (3)

  1. Patrick Begley

    Contributor Level 14

    4

    Lawyers agree

    Answered . Lawyers aren't allowed to tell people not to pay their debts. The wisdom of not paying the bills really depends on how big of an unsecured creditors pool you are going to have in the 13. Generally it's a good idea to not treat unsecured creditors differently. If you were filing a 7, it would probably be a waste of your money to continue to pay on credit cards. The best thing you can do is ask your attorney about this. Hope this helps and best of luck!

    The information provided in this post is not "legal advice." Rather it is general information on common legal... more
  2. Dorothy G Bunce

    Pro

    Contributor Level 20

    2

    Lawyers agree

    Answered . Do you need the money you are spending on these debts to complete the payment of your attorney fees? Are either of these loans to parties that qualify as "insiders," such as family members, friends or business partners? Hope this perspective helps!

  3. Michael Avanesian

    Pro

    Contributor Level 16

    2

    Lawyers agree

    Answered . Hire an attorney.

    The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may... more

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