time btwn stopping cc payments & filing?

[ApresMoi]

I stopped paying in November 09 and plan to file in February. From what I am reading here, I don't need to worry about getting sued just yet.

Do I need to worry about a freeze on a bank account? Wouldn't someone have to sue first to do that? I am in CA if that makes a difference. Thank you.

[JEM]

I stopped paying in November 09 and plan to file in February. From what I am reading here, I don't need to worry about getting sued just yet.

Do I need to worry about a freeze on a bank account? Wouldn't someone have to sue first to do that? I am in CA if that makes a difference. Thank you.

I believe that yes, they do need a court order or judgment to grab a bank account.

That might vary from state to state though??

[albacore44]

I stopped paying in November 09 and plan to file in February. From what I am reading here, I don't need to worry about getting sued just yet.

Do I need to worry about a freeze on a bank account? Wouldn't someone have to sue first to do that? I am in CA if that makes a difference. Thank you.

well i would be careful if you are defaulting on any CC where you also have a bank account. they have hidden rights of set-off clauses which allows them to take your money to satisfy your past due on the CC. Wells Fargo is famous for doing it

[coolmom04]

What about credit unions? Are they more quick to sue than your typical cc company?

[supercrash]

Going on 5 months here .. sure you will get calls and letters , in the beginning you can answer the phone and play like yu want to pay (just to stall longer) ...you can have them thinking you want a plan to pay back. After a few months stop answering the calls and let it ride , the letters may sound bad, but there is no bite just yet. I am hoping to make it to mid march.

[jribe]

What about credit unions? Are they more quick to sue than your typical cc company?

i stopped paying 8-10 months before i filed (some cards i kept paying on) and was never sued.

Even though it was the smallest balance, the local credit union i owed was the biggest pain of them all.

I had the chance to settle with my largest debt, and because of my job- i was going to do it. But the credit union wouldn't budge at all, and were rude everytime i talked to them. I really thought they'd show at my 341.

But in the end, they were the smallest balance- and i had the card for over 5 years- so there wasn't anything they could object to.

Good luck!

[ApresMoi]

well i would be careful if you are defaulting on any CC where you also have a bank account. they have hidden rights of set-off clauses which allows them to take your money to satisfy your past due on the CC. Wells Fargo is famous for doing it

no, i am not defaulting on any debt where i also have a checking or savings account. i would close those instantly if that were the case.

wells fargo and union bank are both known for freezing accounts when anyone actually files for BK.


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the above is not legal advice and should not be construed as such.