How long does it take CC companies to sue?

[aljohnson007]

Sorry about the "heap of trouble" phrase. What I should have said was if you have an OD and don't cure it, you may be blocked from opening an account with any other bank in the future.

[simplicityof]

How much time must elapse from the time when one begins missing CC payments to the BK filing date? In other words what is the absolute soonest one may legitimately file?
I've heard from someone here that at least 6 months from ? is the recommended minimum.
Sorry to have posted in this thread but reading these posts begs the question even more from my perspective. I'm a bit irked by how little I've found on this subject.

[aljohnson007]

No need to be "irked" over the amount of info you have received. Just consider the amount of info you have provided on your specific case before you reach a conclusion. We are all here to asist you with your problem.

[billf]

Delaying

My atty said not to worry about lawsuits - said he could get an extension of 3 mths or so from the court if necessary. My own view is I do NOT want any judgments of any kind, default or not, even if bk could enable them to be avoided.

[DeadManCrawling]

How much time must elapse from the time when one begins missing CC payments to the BK filing date? In other words what is the absolute soonest one may legitimately file?
I've heard from someone here that at least 6 months from ? is the recommended minimum.
Sorry to have posted in this thread but reading these posts begs the question even more from my perspective. I'm a bit irked by how little I've found on this subject.

You CAN file immediately. Even before defaulting.

But there are good reasons to wait, in many cases. For instance, there are allowable time limits before some transactions are no longer considered. For most insider payments (friends, relatives, up to a certain dollar amount), it is one year. For luxyry purchases it is 90 days-6 months, depending on the purchase and BK district. For other payments, there are other standards, and some of these vary by district. It can be maddening to sort out.

It is for this reason that most people advise: Put as much time between last transactions with credit and your filing date.

For us, that number was almost three years, but we were waiting for some medical treatments as well.

Good luck,

-dmc

[Shakin]

I had a feeling I was about to be sued once a collection agency/lawyer in my state started to contact me.

In Massachusetts I believeits the way it goes.

My experience has been that I worried alot even after I hired my lawyer. This is not an easy process. I think all of my instincts were maxed out along with my credit cards. I remember the feeling of release I had at my 341. No creditors there. No more phone calls. Now I am in the 60 day club......actually 30 days now.

[simplicityof]

No need to be "irked" over the amount of info you have received. Just consider the amount of info you have provided on your specific case before you reach a conclusion. We are all here to asist you with your problem.

Wasn't referring to any site/forum in particular.

You CAN file immediately. Even before defaulting.

But there are good reasons to wait, in many cases. For instance, there are allowable time limits before some transactions are no longer considered. For most insider payments (friends, relatives, up to a certain dollar amount), it is one year. For luxyry purchases it is 90 days-6 months, depending on the purchase and BK district. For other payments, there are other standards, and some of these vary by district. It can be maddening to sort out.

It is for this reason that most people advise: Put as much time between last transactions with credit and your filing date.

For us, that number was almost three years, but we were waiting for some medical treatments as well.

Good luck,

-dmc

Thanks. This is what I thought before I got led astray by an attorney's q&a stating you must be in default to file, whatever that meant.