Question on Balance Transfers

[ambivalent]

Hello all!

I have a question on doing a balance transfer prior to filing BK. If you transfer a balance from one CC to another, but reaffirm the debt on the card the balance was transferred to, is that allowable?  Thank you!

[Jnbmom]

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@ambivalent wrote:

Hello all!

I have a question on doing a balance transfer prior to filing BK. If you transfer a balance from one CC to another, but reaffirm the debt on the card the balance was transferred to, is that allowable?  Thank you!

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As far as I know you can't reaffirm one credit card, you have to list all credit cards.

Reaffirming is only on mortgages car loans not credit cards .

[jmw1]

Your priorities are all messed up. You should be using bankruptcy to get out of debt AND stay out of debt, not putting yourself into unsecured debt on day 1.  If you don't learn to live on cash after BK Dave Ramsey style, you can get into trouble very fast and you cannot get another discharge for 8 years because you were trying an overly aggressive rebuild or trying to live on credit. Many people mess up their fresh start by reaffirming SECURED debt when they should be surrendering the collateral (car or home) to the bank rather than staying inside of a zero or negative equity mortgage or auto loan. And you want to reaffirm pre-petiton UNSECURED debt from another credit card?

Besides, no judge or lawyer will sign off on reaffirming debt if it is not in your best interest. You will need both of them to agree. 

[ambivalent]

Sory, I hopped out quick.  Here is more information

The reaffirmed CC would be with a CU as there is cross collateralization and the car would likely be kept as it is newer and a low interest rate. The balance on the CC is low.  This is all with DCU, if that helps. The BT amount would be about $1,500. The total balance would probably be able to be paid off shortly after discharge.  

This isn't my particular situation (though I will probably be filing bk soon as well, unfortunately!); I thought this forum might be the best place for information :-) 

[Shooting-For-800]

Affirming cc debt would be silly.

Better off doing balance transfer then filing 3-6 months later.