Should I tell creditors I'm going to file?

[Ineedhelp2]

I will be fling chapter 7 within the next 90 days.

If I come in contact with a creditor, should I tell them I'll be filing? Is there any downside to letting them know? Is there any advantage? (Will they realize it's now a lost cause?)

[justbroke]

No, no, and no.

I don't see any advantage. They'll probably tell you that unless and until you file, they'll keep calling.

As a matter of fact, if they already have some legal pursuits in progress, they may speed them up to judgment to put a lien on your personal and real property before you file. I don't believe it benefits you to warn them that you are filing, unless you're trying to settle with them. Otherwise, it really won't do anything.

[Meatstick]

If you tell them and are in default they may move to immediately file suit. Just my opeinion but I wouldn't tell them anything. I get 40-50 calls per day and just turn the ringer off so they aren't hassling me one bit.


Meatstick

[Notes4fr]

I wouldn't. I did, and they all just said they would continue calling until I had the attorney's name and was in process of filing. A couple said they would call until I gave them a case number. (they stopped calling after I gave them the attorney's info). They do call the attorney to verify their office is working on the case (at least mine did).

I stopped answering the phone and screened all calls. If it was important enough, people would leave a message and I would call them back!

[LimpDisc]

Told Home Depot (Citibank) that I was filing and my account went to a CA in 10 days. Didn't matter for me because I knew that I would file in 30 days.

[justbroke]

Told Home Depot (Citibank) that I was filing and my account went to a CA in 10 days. Didn't matter for me because I knew that I would file in 30 days.

Yep! You actually help them out by allowing them to sell off the debt while "they" know that you are filing. Gets it off the books quickly!