I’ve hired an attorney to file for Chapter 13 bankruptcy. My meeting for signatures and final review is scheduled for 12/9/24. Should I continue making payments to my creditors until the bankruptcy is officially filed, or is it better to stop paying them now?
You should definitely ask your attorney about this. They’ll know your specific situation and what’s best for your case.
Haru said:
You should definitely ask your attorney about this. They’ll know your specific situation and what’s best for your case.
Agreed. Your attorney can give you the clearest guidance since every case can be different.
Most attorneys recommend stopping payments to creditors once you’ve decided to file for bankruptcy. Your first plan payment will usually be due within 30 days of filing, so you’ll need to save for that.
@Koa
That’s what I was told too. Just double-check with your attorney to make sure it aligns with your plan.
I stopped paying my creditors as soon as I retained my attorney, and it didn’t cause any issues. Just be ready to start making your Chapter 13 plan payments right after filing.
Bryce said:
I stopped paying my creditors as soon as I retained my attorney, and it didn’t cause any issues. Just be ready to start making your Chapter 13 plan payments right after filing.
Same here. I was told to stop paying creditors so I could save for the first bankruptcy payment.
It might depend on your specific creditors. Some attorneys say to stop paying all creditors, while others might suggest keeping up with secured loans like your mortgage or car payment until filing.
Rowan said:
It might depend on your specific creditors. Some attorneys say to stop paying all creditors, while others might suggest keeping up with secured loans like your mortgage or car payment until filing.
Good point. If you have secured debts, your attorney might advise you to keep paying those until your case is filed.
Definitely don’t make any major financial decisions without talking to your attorney first. They’ll know exactly what you should or shouldn’t do before filing.
Uma said:
Definitely don’t make any major financial decisions without talking to your attorney first. They’ll know exactly what you should or shouldn’t do before filing.
Exactly. Your attorney is there to guide you through this and make sure everything is done right.