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    Waiting to file

    We talked to our lawyer about our options. I need to wait until
    December 01, 2009 before I can file Chapter 7 because of my income. I have tried everything over the last 3-4 months to avoid bankruptcy, but now our options are very limited. I was cashing out vacation, personal and other paid time off to increase my income. Little did I know that those decisions would push us to Chapter 13 if we file right away.

    All of our CC's have been shredded.

    We stopped using CC's as soon as we decided this was our best option

    I was advised that to continue paying our unsecured debt was a waste of money. This really does scare both of us. The phone calls started almost right away from 3* creditors. We're most worried about calls to our emplorer, relatives or friends and any legal action being taking against while wating to file on 12/01/09. Should we even be worried about this being it's only 3 months? I have read what seems like every creditor post on this forum and can't decide if we should even answer any of the calls.

    Any of these creditors worse than others?

    American Express
    Bank of America *
    Chase
    Capital One
    Citibank
    Discover *
    PayPal Buyer Credit (GE Money)
    Wells Fargo *

    We have a 1st & 2nd mortgage that we will keep and have never missed or was late on either. We also have 2 car payments that we will keep with both cars and have never missed or was late on those either.

    Awesome job by everyone who contributes on this forum.
    Stopped Payings CC's: 8/14/2009 | Retained Attorney: 9/23/2009 | Filed CH 7: 12/7/2009 | 341 Meeting: 1/21/2010 - Complete | Discharged: 4/9/2010
    "One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."

    #2
    I'd not worry about litiagtion in 3 months. Even if they did sue you today, it'll take time for you to repsond and then, get a court date,etc.
    Just answer the phone ocasionally and tell them you can't pay. Don't go into any details-just lack of income and hang up.

    Comment


      #3
      Originally posted by LimpDisc View Post
      We talked to our lawyer about our options. I need to wait until
      December 01, 2009 before I can file Chapter 7 because of my income. I have tried everything over the last 3-4 months to avoid bankruptcy, but now our options are very limited. I was cashing out vacation, personal and other paid time off to increase my income. Little did I know that those decisions would push us to Chapter 13 if we file right away.

      All of our CC's have been shredded.

      We stopped using CC's as soon as we decided this was our best option

      I was advised that to continue paying our unsecured debt was a waste of money. This really does scare both of us. The phone calls started almost right away from 3* creditors. We're most worried about calls to our emplorer, relatives or friends and any legal action being taking against while wating to file on 12/01/09. Should we even be worried about this being it's only 3 months? I have read what seems like every creditor post on this forum and can't decide if we should even answer any of the calls.

      Any of these creditors worse than others?

      American Express
      Bank of America *
      Chase
      Capital One
      Citibank
      Discover *
      PayPal Buyer Credit (GE Money)
      Wells Fargo *

      We have a 1st & 2nd mortgage that we will keep and have never missed or was late on either. We also have 2 car payments that we will keep with both cars and have never missed or was late on those either.

      Awesome job by everyone who contributes on this forum.
      From my personal experience, BoA (Bank of America) is quite aggressive. Also if you have a checking account with Wells Fargo, please close it and switch to another bank with a new checking account to avoid offsets for any line of credit with Wells Fargo if you have one(s). They have been known to dip in or freeze checking accounts to offset your credits/loans associated with WF. Same with Bank of America if you have a checking account, etc.

      Best wishes to you!
      Chapter 13 filer since Feb. 2018 under a 60 months payment plan
      Please think positive and do not give up!

      Comment


        #4
        Don't worry about any creditors filing suit before December 1st. Most won't do anything other than call you until you are at least 180 days late. We haven't paid a CC bill since January 2009 and are only now starting to have contact from collection agencies.

        Advise the collectors you have an attorney handling this matter for you and give them his name and number. Many will stop calling you once they know you are serious about bk. We had a collector call us the other day about a Discover card wanting to know if we were interested in a settlement or were still planning to do a bk. I said "Bk" and he said they'd take us off their calling list.

        Always answer the phone and always verify your mailing address and home phone number. This may stop some from calling relatives.

        Nothing will stop them from calling your employer unless you advise them you are not allowed to accept calls at work.
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

        Comment


          #5
          I just wanted to add, like Ohiofiler said, nothing to worry about before Dec 1for any collection letters, complaints, etc to start coming in. But for Bank of America, I stopped paying BoA in Oct of 2008 and got letters from their attorneys starting in March of 2009. So you do have time, but just a note, BoA is pretty aggressive in my opinion
          Chapter 13 filer since Feb. 2018 under a 60 months payment plan
          Please think positive and do not give up!

          Comment


            #6
            Originally posted by ForumReader View Post
            I just wanted to add, like Ohiofiler said, nothing to worry about before Dec 1for any collection letters, complaints, etc to start coming in. But for Bank of America, I stopped paying BoA in Oct of 2008 and got letters from their attorneys starting in March of 2009. So you do have time, but just a note, BoA is pretty aggressive in my opinion
            I haven't heard from BofA in several months. They were only a pain the first 2 months. After that they pretty much disappeared.
            Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

            Comment


              #7
              Originally posted by OhioFiler View Post
              I haven't heard from BofA in several months. They were only a pain the first 2 months. After that they pretty much disappeared.
              Glad that they disappeared for you. It did not with me. I received complaints from them in July and then a civil summons very recently after I filed for BK. My attorney had to call their attorney to straighten that out or else they would have faced sanctions.

              Anyway, to the OP, sorry for veering off a little bit to your thread.
              Chapter 13 filer since Feb. 2018 under a 60 months payment plan
              Please think positive and do not give up!

              Comment


                #8
                My lawyer said the cars shouldn't be an issue because we're current and plan on keeping both. Both loans are with Capital One Auto. Anybody think we will have any issues with keeping both?
                Stopped Payings CC's: 8/14/2009 | Retained Attorney: 9/23/2009 | Filed CH 7: 12/7/2009 | 341 Meeting: 1/21/2010 - Complete | Discharged: 4/9/2010
                "One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."

                Comment

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