How to keep cc at bay for six months?

[Moneypenny]

Hi,

I stopped paying my cc bills for bk in six months (has to be six months because of a bonus check i got). but I am GOING CRAZY with worry, watching the late and overage charges stack up.

I got a couple computer calls on my answering machine and the phone rings a few times every night but hangs up when it gets the machine.

How do you drag things out so you can make it six months without getting charges filed? What kinds of things do you say to them over the phone?

also, if i have fifty bucks in BoA account and owe them 50,000, can they charge my checking account for more than I have in it?

thanks!

crazy sleepless Mr. Moneypenny

[Jammed]

I'm in a similiar situation. I'm trying to stretch it out until April but a pending foreclosure may force me to file sooner.

As far as the CC, once the CC is shipped/sold to a collection agency or attorney, you can send a DV (debt verification letter) to force them to verify you owe the debt. So far, I sent out one DV about a month ago and havn't heard anything form that collection company. The DV letters seem to slow things down because they need to contact the original creditor to validate the debt. The other thing you can do is send the collection company a letter to cease contacting you except to tell you they are about to take some action on your account. While this letter may not slow them down, it will force them to stop calling you. If you do a search on the forrum you will find sample letters posted that you can use.

[ready2puke]

My last payments to all cc's was a year ago Aug. Still getting calls and have never talked to any of them. It does get to me tho...I never thought I could last 6 months let alone over a year..but you can.

[aljohnson007]

Be careful with BofA. I left a few buck in my checking sccount and when I didn't pay, they charged my account with an overdraft, then insufficient funds fee which then made my account negative. I had to make good on this but immediately closed it down. Go personally to BofA and close your account
and open another that you don't have any credit with.

[Moneypenny]

yeah BoA already did this to me when they didnt cease an autopay even though i cancelled it. i was overdraft, so they charged me. then when i didnt clear it in a couple days they charged an "extended overdraft fee," and because that overdraft fee was also overdraft, they charged me another overdraft fee for the overdraft fee!!

cost a lot but worth it because it makes me feel better about defaulting on those rats.

[filingsoon]

I didn't pay my cc for over a year and a half and they still call me. I simply didn't have the money and I hated being hounded on the phone by them, so I just stopped answering my phone. I also moved twice in that time (due to lloking for employment) so they could never keep up with me to sue me, but I just filed yesterday my chapter 7 so it's almost over.

My advice on the BOA account is go and get you $50 and CLOSE your account. I had a cc with Wells Fargo, put enough money in the account to cover an overdraft fee asked them to close it, but they didn't and took their cc payment out which bounced, then proceeded to take my account and keep charging it for being in overdraft status!

I learned it was a waste of time and money to ever make that deposit, and in the future I will not have a cc where I bank. Fortunately, I have checking and savings accounts with a credit union also that are my primary accounts so I won't ever open up a cc with them, just to be safe.

[Moneypenny]

i am afraid that when i walk into BoA to close my account, with a positive balance, since i have been throwing money at their charges, they will not close the account.

can they do that? refuse to close your checking account because you have a cc debt?

[IamOld]

i am afraid that when i walk into BoA to close my account, with a positive balance, since i have been throwing money at their charges, they will not close the account.

can they do that? refuse to close your checking account because you have a cc debt?

Hi - once your in the positive they should not refuse to close your account...if need be, tell them that you lost your checkbook and bankcard!!!!

Also, I'm right there with you...need to wait four more months.... :-)

[dman]

Set up a separate phone number that goes straight to voicemail (for example, google voice). Only give this number to creditors; update every single account you have with this new number. You may even want to have the voicemail greeting verify who you are (for example, "You have reached John Smith, address 555 Main St, Anytown, PA"). The reasoning is, if they KNOW they have the correct contact info for you, they're NOT supposed to "call around" trying to find you. Doesn't mean they won't though, but it can help. Next, I'd change your current phone number. Heck, I'd get a google voice number to actually use (i.e. give out to friends, family, coworkers, etc.) instead of your "real" phone number...if a creditor gets hold of the 2nd google voice number (the one you're actually using), it's very easy to block them.

Close the BoA account immediately. I'd look into getting a prepaid card that can accept direct deposits (the Wal-Mart moneycard might be ok, but it has some low limits for what can be in the account). If you get another bank account, you may want to use an internet bank (one that has no branches near you), so it'll be harder to track down. Note...virtually every bank is either going to pull your credit report or your ChexSystems report before opening a new account...I'd go with ChexSystems. A debt collector is more likely to pull your credit report, so your new bank account may go unnoticed.

That said...the point is to hide money from the creditors/collectors, NOT the trustee. If your money is hard for the creditors to find...they're less likely to come after you. If they do come after you, they'll have a harder time collecting (i.e. if they get a judgement...they can easily get money out of your checking account IF they know where it is...if they can't find it then they have to take you to court again to force you to tell them...giving you plenty of time to spend it down, file for bankruptcy, whatever). Once you file bankruptcy, you MUST disclose everything.

[dman]

Hi - once your in the positive they should not refuse to close your account...if need be, tell them that you lost your checkbook and bankcard!!!!

Also, I'm right there with you...need to wait four more months.... :-)

BoA does a "soft" close for 30 days...just in case any more transactions come through. They "should" deny any withdrawals, but if a direct deposit comes in, that would most definitely re-open it. That's why I recommend to close it ASAP (to start the 30-day clock), and to open another account ASAP (just in case something screwy does happen with your account...you want a new account open before a negative ChexSystems entry makes it near impossible).