I am Planning on Filing Bankruptcy, Should I Stop Paying My Florida Creditors?

Often times I get clients that come into my office that are planning on filing for bankruptcy but are just not at the point to do so right away.  So the first question these clients ask me is if I am planning on filing bankruptcy can I stop making payments to my creditors?  The answer to that question is, it depends.

House – If you are planning on keeping your home, then you should continue to make payment on that home.

Vehicles – If you are keeping your vehicles that you lease or financed then yes continue to make payments on those vehicles or else they will likely be repossessed prior to your bankruptcy filings.

Utility Bills – Any bill that you are currently using and will continue to use post bankruptcy you should continue to pay.

Credit Cards – If you are planning on filing bankruptcy then there is no need to continue to pay for your credit cards because you are just throwing away money.  When you file bankruptcy your credit cards debts will be discharged so there is no reason to continue to pay them if you are 100% sure that you will be filing.   It is also a wise idea to stop using your credit card before you file bankruptcy as there could be severe negative consequences if you use your credit card excessively prior to filing bankruptcy.

Before you decide to stop paying your bills make sure that bankruptcy is right for you.  Feel free to contact the Miami Bankruptcy Attorneys at Shmucher Law, PL to schedule your free consultation, with managing partner Ofer Shmucher, in one of our five conveniently located offices throughout the greater Miami or Fort Lauderdale area.

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