when CC's call, dont say bankruptcy??

[Moneypenny]

well thats scaring me now. i dont know if i should stop paying my cc debt. i was planning on not paying 6 months prior to filing, with 2 BoA at 29k and 12k and 2 chase at 9k and 12k. now i am afraid to stop paying even 3 months prior. i cannot file early.

mr. mp

[AshShep01]

well thats scaring me now. i dont know if i should stop paying my cc debt. i was planning on not paying 6 months prior to filing, with 2 BoA at 29k and 12k and 2 chase at 9k and 12k. now i am afraid to stop paying even 3 months prior. i cannot file early.

mr. mp

I only had 9K worth of debit with BOA. As soon as I told them I was unable to meet the terms on the payment plan they extended me. The collection guy told me they weren't going to contact me anymore. They were sending my account straight to the legal department. He was just blowing smoke, they contacted me again about 3 months later. The had extended me a settlement offer. But by that time I had already filed BK.

[OhioFiler]

BofA is no different than any of the other large national banks. Don't base your decision on whether to pay your cc's on anecdotal evidence.

[Moneypenny]

well, i dont know what else to base it on. i have to base the decision on something. i really dont know how many months i can not pay before i get into legal trouble. like i said, i cannot file early if trouble starts. so, i can only ask and try to guess from that what a safe period is.

[OhioFiler]

well, i dont know what else to base it on. i have to base the decision on something. i really dont know how many months i can not pay before i get into legal trouble. like i said, i cannot file early if trouble starts. so, i can only ask and try to guess from that what a safe period is.

Typically, the OC holds the debt for at least 180 days before it's transferred to a CA. With Debt validation requests and cease and desist notices you can usually hold off any activity by them for a few months as well.

I wouldn't expect any type of legal action for at least 12 months. Hed over to the Collections forum and read how well and how long some members keep the hounds away.

[Moneypenny]

thanks that is very helpful!!

[LuciluS]

well, i dont know what else to base it on. i have to base the decision on something. i really dont know how many months i can not pay before i get into legal trouble. like i said, i cannot file early if trouble starts. so, i can only ask and try to guess from that what a safe period is.

The last time we paid BOA on a $13,600 balance was Sept. of last year. I'm about 70% sure BOA still has the account. I've not opened CA/JDB or Credit Card statements since around Feb. I honestly think not paying for 6 months, you will be fine.

http://money.cnn.com/2009/07/07/pf/consumer_delinquencies/?postversion=2009070711

Credit delinquencies hit record high
Mounting job losses and fallout from housing bust make it tough for consumers to make payments on bank cards and other loans.

It's a good article for all to read.

[zpbk13]

I wanted to file in June but we have had a couple of unexpected set backs and will not be filing until sometime in August. I am a little concerned as we have not made a credit card payment since January but so far so good. I wouldn't want to push it to much longer but appreciate the advice on this board to file when we are ready, which should be soon!

[LuciluS]

Our Attorney's fee of $1,300 includes all the filings for a Chapter 7 including the fees, his attendance at 341 hearing & 2 affirmations, if need be.

When I received my first collection notice, threatening a lawsuit, I faxed it to him. He emailed me and stated for $60 he would reply to a lawsuit & delay until we get filed on 9/30/09.

I keep a list of questions to ask our Attorney for two weeks. I usually email the questions on a Tues. & he replies no later than Thurs. DH and I had the free consult with him...very laid back, does only bankruptcies....in the bk business for 20 years. I've had another 'sit down' meeting with him in Jan.

When I dropped off final payment to his Paralegal, he came out of his office and asked medically related how Dh and I were holding up. Gee, I was surprised he remembered our case is based on major medical crises.