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Atty says to stop paying creditors?

New Contributor

Atty says to stop paying creditors?

So I went to an atty last week and she said to stop paying my creditors. So i was paying the minimum payment every month to them and it came close to $1500 everymonth. Now my biggest question is what should I do with that $1500? It's actually going to be much less because i was always pulling money out of a losing business to try to make minimums but besides the fact...does it make sense to have this money in the bank or keep the cash in a safe place? My atty also said not to file until i get my tax returns which could be a month or two. With this being said it looks like I'm gonna get away with about 6 months of not paying the creditors and just wanted to know what the best thing to do with the extra cash would be, leave the cash in a safe place (ie. safe at home, safety deposit box, etc.) or open a savings account and put it there.I'm afraid that the trustee may want to see the savings account and it could increase my ch. 13 payment or they may just take it. Any help is much appreciated...thanx!
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New Contributor

Re: Atty says to stop paying creditors?

You should have asked your lawyer....

anyhoo, here are a few suggestions, and others might want to correct me on this....

option your lawyer, lol...or save it to pay him/her.....btw, did you talk to just one lawyer? make sure you get second opinions, doesn't hurt.

option two....if you already paid your lawyer, put it in your retirement account...i "believe" that they cannot touch that in chapter 13...not too sure though.
Message 2 of 2
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