Any downside to notifying creditors I've retained an atty?

[maffy]

I think that is fine maffy. I filed around the 120 day mark and at that time only had one attorney, out of about 7 or 8 creditors, sending me their standard collection letters. The calls were frantic, but quite obviously the majority of my creditors were nowhere near the action stage. Unless you are receiving second or third notices from attorneys, you have time. They are going to do their homework and determine if you are a good candidate for a judgment before they pony up their money to take you to court. If things look to be in the later stages with an attorney then maybe it's a good idea to let them know you've retained someone. Many will drop what they're doing completely once they hear "retained attorney" as you become a bad investment for them and their client. Regardless, though, it's pretty much "game over" for them now that you have your attorney, unless you significantly delay your filing.

We're very close to filing - about 7 days out is the time frame I'm thinking. I have most info in to the atty, now just need to get down there and review what they have prepared. Does anyone have any suggestions on this process - (reviewing what your atty prepares) are there any areas that I need to pay closer attention to? I'm getting really nervous, because this is really becoming a reality!

[nceguyfromne]

We're very close to filing - about 7 days out is the time frame I'm thinking. I have most info in to the atty, now just need to get down there and review what they have prepared. Does anyone have any suggestions on this process - (reviewing what your atty prepares) are there any areas that I need to pay closer attention to? I'm getting really nervous, because this is really becoming a reality!

In that case, focus on getting your case filed and don't waste your time talking to creditors. This close to filing your case it really makes no difference. They will all be banished from your life soon.

I'd suggest just doing a brief once-over of your petition and making sure there are no glaringly obvious errors and, particularly, all your creditors are listed. I don't think you need to go over it with a fine-tooth comb and a calculator or anything. You are paying your attorney and his/her paralegals to worry about the details. If something is so far off that the trustee happens to notice it in the 1-2 minutes he/she will spend looking at it, he/she will say something and your attorney can correct it. It's always best to get it right on the first try but a good-faith mistake won't make or break your case.

[maffy]

In that case, focus on getting your case filed and don't waste your time talking to creditors. This close to filing your case it really makes no difference. They will all be banished from your life soon.

I'd suggest just doing a brief once-over of your petition and making sure there are no glaringly obvious errors and, particularly, all your creditors are listed. I don't think you need to go over it with a fine-tooth comb and a calculator or anything. You are paying your attorney and his/her paralegals to worry about the details. If something is so far off that the trustee happens to notice it in the 1-2 minutes he/she will spend looking at it, he/she will say something and your attorney can correct it. It's always best to get it right on the first try but a good-faith mistake won't make or break your case.

Thanks! I will be meeting with the atty next week. I am self-employeed, and have made a few bookkeeping mistakes that I've noticed after going through my documentation so thoroughly for the year, but not anything big. My biggest concern is my house. I'm upside down in it (about 60K). The paralegal said to reaffirm it or it would lose it, but after reading what's on this site there's NO way I'm going to do it. After speaking with the atty - he said I can mark surrender, stay current and take my chances on if they'll foreclose. I don't think they will considering how many houses are being let go of in the Phx area...

Yes the collections calls (which is what this tread is about - sorry for going off in a different area) are the last thing I even want to deal with...

[MrSmithster]

What you purpose is called FRAUD!!! Using credit when you're insolvent is FRAUD. Seriously, if you can't survive without credit now, how will you survive after BK. BK isn't an instant fix. You need to look at your budget and cut expenses. Once I stopped paying everything, I was able to save money for emergencies and not have to rely on credit. Thats what you're supposed to do after BK.

I am not "proposing" anything, O Critical One. I gave a scenario that...Emergencies come up sometime at the worst times. Your telling me that not one person here has ever waited to file for their advantage? Please! Thats one of the most asked questions..."How long after I use my credit do I have to wait until I can file BK?" And the advise here rarely says..."your committing fraud", its explains how long to wait and why. Get off your soapbox and stop being so critical of others posts. Its easy to recognize your posts before even seeing your name. You have your opinion, and others have theirs. Or should we just change the name of this site to Chad's Place?