Ideas/template for letters to creditors...

[pa333]

Hi all -

We are going to have to wait a few months before filing BK. Until then I plan on paying a very small amount ($25) each month on each of our credit cards and a consumer loan we have.

We already called and spoke to each creditor, explaining that this is a "temporary" situation (which we still hold hope that it will be - we got unexpectedly screwed because our annual bonus was slashed, but my husband's company "promises" we will be given another bonus payment this spring - we just don't believe them).

But I think it would be a good idea to put this in writing. I was thinking of mailing an actual paper letter to each creditor each week to remind them that we know we are paying well below the minimum payments, that we hope this will be a temporary situation, etc. I don't want to get sued before we file, if we do indeed have to file, later this year.

Has anyone else mailed letters like these? If so, what do you include. Does anyone have a sample or template they have used. I want to keep our creditors updated, but I don't want to accidentally include any language that could be wrong or potentially get us in trouble if/when we have to file for BK.

Thanks in advance!

[DUMBAGAIN]

I can appreciate that you want to do everything on the up and up, however IMHO, this is a waste of time and money. Trust me, (I work for a credit card company), no need to send a letter or money for that matter since you know your filling. If you stop paying, they will call, give them your lawyers information and be done with it.

[StartingOver08]

That's right, don't pay the $25 it will NOT help you at all. Stop paying your unsecured debt unless you have recent charges, cash advances or balance transfers.

[pa333]

The problem is that we DO have recent transactions on our credit cards, because up until very recently we didn't realize we were going to lost a big portion of our income and, thus, be unable to pay the minimums. So, we really can't file for a few months until we get those transactions behind us...

Until then, I need to keep them at least informed enough to hopefully not sue us...

[cynhgm]

We are going to have to wait a few months before filing BK. Until then I plan on paying a very small amount ($25) each month on each of our credit cards and a consumer loan we have.

I was you in this regard. For three months I paid my creditors as much as I could (which was around a third of the monthly minimums) but they couldn't care less. I wasted a lot of money and time on making it work with them. Now I plainly stopped paying them at all because I need the money for the attorney.

[catleg]

Paying $25 a month is going to be looked upon (by them) as being just as fraudulent as paying $0.

In either case it doesn't matter as long as you let 90 days pass.

It does not sound like you've done anything egregious.

Stuff happens, they have to deal with it.

Remember people come first.