Wanting to file Chapter 7

[Chrisi18]

My husband and I retained a Lawyer in May 2008, we have been trying to hold out hoping that something would come up and get us out of this situation. Well here we are still in the same situation, and we want to proceed with filing chapter 7. However, as of right now we don't have the extra cash to pay the lawyer off. Whats the best way to go about doing this? Should I go ahead and stop paying the credit cards, car,etc. to pay the lawyer? What happens if it takes 3,4,5 months with us not paying on these things? Obviously the car will be repo'ed, but how will the credit card companies feel about not being paid for so long?

Thanks for any input, I've been lurking here for awhile, finally got the guts to post!

[PoorGrammyinBK7]

Well, I would not worry about how the credit card companies "feel" - stop those first. The car - depends on whether you want to keep it.

[AngelinaCatHub]

Chrisi, you obviously are new here so go through some of the old posts as well as the ‘stickys’. Yes, quit paying on everything you would have gone. If you do not wish to lose your car, you may either reaffirm, or pay though. Use the money to pay the lawyer. DO NOT use your CC cards for ANYTHING. Let as much time go by and make no mistake about a binge on a card you would be abandoning. This is called fraud. Just read through here and it is the very best place to get help (not legal advice), sympathy and love. ‘Hub

[Chrisi18]

Opps yea sorry I should of clarified that yes we will not be keeping the car, basically I didn't know how long I could go without paying the credit cards before they started taking legal action against me.

[keepmine]

You have months if not years {if ever} before anyone sues. If they sue and win, any judgment can be discharged in the bk.

[happy_ira]

Opps yea sorry I should of clarified that yes we will not be keeping the car, basically I didn't know how long I could go without paying the credit cards before they started taking legal action against me.

If you are current on your credit card payments, here's the trend I saw:

First cycle: I missed my minimum payment. Received a letter from statements.
+30 days: phone calls began
+45/60 days: LOTS more calls and letters/a few to collection agencies
bk filing: Calls ended. Not a single one. Like magic fairy dust.

All of the above should provide you plenty of time, esp if youve been reading here, to get your filing done with plenty of prep.

[paintinrosesred]

We have one cc five months past due and one cc is three months past due and they have stopped calling every day recently. I think I read you have six months at a minimum before they will file a judgement (if they do.... like someone said above). So if waiting is better for your numbers.. I would wait.