From about 90k to 180k???

[Marymom]

I went over the paperwork yesterday with my lawyer. He should file in a day or so.

Most of my debt is cc, keeping the house.

As I was looking at my unsecured amounts, they doubled from the time I stopped paying to now. (which has been quite some time)

Are there any rules regarding how much a collection agency can tack on to the original amount? In most cases the original amount has doubled!

Looking forward to being in the 60 day club! Lawyer said he doesn't see any issues....

[justbroke]

Are there any rules regarding how much a collection agency can tack on to the original amount? In most cases the original amount has doubled!

Ahh... the old Junk Debt interest charges.

The reason almost all credit card companies are incorporated in the State of Delaware, and almost all are in Wilmington, is because Delaware law is on the side of the creditors! Given that though, many States got smart and have created some laws which reach Delaware. That's why most credit card applications have some text in the Disclosures which read like "FOR CALIFORNIA RESIDENTS: you are not..." Most States haven't moved to protect their consumers by foreign (different State) lenders.

Since it's being discharged, you need not worry about all the junk interest that has accumulated.

But at 30% APY (and higher) interest rates... it takes less than 3 years to DOUBLE (119% gain in 3 years)!!! If they are adding on the other junk fees as well (late fee $39.00, over the limit fee $39.00), you can see where you'll be triple in no time!

[Marymom]

My goodness! Thanks. I actually have 2 people trying to sue me in I guess federal court for 44k and one in small claims court (4k) that just got a judgement against me the other day.

These cases pushed me into filing. I'm glad I did. The courts here in Western PA are backed up a bit. He said after filing 4-6 weeks for a 341.

[TEW]

I am in central PA and it took 4 weeks for my 341. Just tips in PA make sure you get a certified copy of the discharge if you have a judgment. You may need latter on. If you buy property

[Marymom]

Thanks for all your help. I would not have gotten here if it was'nt for this forum.

My goodness. I have noticed the viewing is really high now.

I logged on to 7 and there were 43 viewing!

I hope everyone gets the info they need!

[adaughter]

marymom how long after you stopped paying your bills did they file a lawsuit against you? I'm helping my parents file but they havent paid bills in 2 years so I am scared we will get served a lawsuit before we file.

[Marymom]

A little over two years. Good luck!