BofA Ultimatum

[ApresMoi]

Help please. Received notice to contact them by tomorrow ('or else' is implied). I just passed 6 months of default. They smell blood.

Since I am requesting revisions to the petition the law firm sent me, this will cause another three weeks delay in filing.

Should I tell BofA I have retained a firm? Or just not return their call? I realize the debt to them will be discharged in the BK even IF they sue, but I really do not want to deal with the embarrassment of getting served or having the stress that that will cause. I don't want to DEAL with that.

Is it safe now to tell them I have retained a firm? Without specifying that I plan to file? Say that I plan to file? Please help.

I really think they have given me as much understanding as they are willing and the next step is a lawsuit. I know this because the number they were calling from has changed, and someone else in another forum said if they are calling from the other number, that is the 'last step' before they sue.

[newbie2]

Help please. Received notice to contact them by tomorrow ('or else' is implied). I just passed 6 months of default. They smell blood.

Since I am requesting revisions to the petition the law firm sent me, this will cause another three weeks delay in filing.

Should I tell BofA I have retained a firm? Or just not return their call? I realize the debt to them will be discharged in the BK even IF they sue, but I really do not want to deal with the embarrassment of getting served or having the stress that that will cause. I don't want to DEAL with that.

Is it safe now to tell them I have retained a firm? Without specifying that I plan to file? Say that I plan to file? Please help.

I really think they have given me as much understanding as they are willing and the next step is a lawsuit. I know this because the number they were calling from has changed, and someone else in another forum said if they are calling from the other number, that is the 'last step' before they sue.

I would call them back and tell them you've retained an attorney and give them your attorneys name and number. That's all you have to say.

[ApresMoi]

Thank you. I asked the law firm and they said, it's up to me. They advised that the debt would be discharged in the BK regardless. I KNOW that. What I am trying to figure out is whether telling them I have retained a law firm will stop them from putting a lawsuit in motion. Anyone?

I would call them back and tell them you've retained an attorney and give them your attorneys name and number. That's all you have to say.

[justbroke]

What I am trying to figure out is whether telling them I have retained a law firm will stop them from putting a lawsuit in motion. Anyone?

No one but BofA and their attorney can answer that. In some instances, a really crafty creditor will speed up the process when they hear you are "thinking" of filing. That way they can get their judgment and record it before you file. Some creditors though, seem to stop all collection as they know that they will get nothing from a bankruptcy. In that case, they heed the warning.

Fact is, it could go either way.

[Faust]

Thank you. I asked the law firm and they said, it's up to me. They advised that the debt would be discharged in the BK regardless. I KNOW that. What I am trying to figure out is whether telling them I have retained a law firm will stop them from putting a lawsuit in motion. Anyone?

I would think they would, as long as they can verify it with your atty.

[ApresMoi]

Ok, thanks. I appreciate the candor.

No one but BofA and their attorney can answer that. In some instances, a really crafty creditor will speed up the process when they hear you are "thinking" of filing. That way they can get their judgment and record it before you file. Some creditors though, seem to stop all collection as they know that they will get nothing from a bankruptcy. In that case, they heed the warning.

Fact is, it could go either way.

[justbroke]

Seriously though... most creditors, after talking to your attorney, would stop collecting.

[ApresMoi]

There is no way they would get any judgment since we are filing in less than three weeks. Even if I told them I plan to file today, and even if they rushed to file a complaint, correct? Would that not be a waste of their resources? Attorneys cost money.

I plan to ask the attorney to speed it up since the petition errors were on their end, not mine. So hopefully we can get filed sooner than three weeks.

Ok, thanks. I appreciate the candor.

[ApresMoi]

Got it. They would be throwing money down and rathole, and they know it, UNLESS they believe they have a strong basis on which to object to a discharge. I don't think they have that in my case, but you never know. I am leaning toward telling them, just to put an end to this nonsense. I will decide by tomorrow (their deadline).

Seriously though... most creditors, after talking to your attorney, would stop collecting.

[Faust]

I doubt they would but no one ever claimed banks were smart! lol

[dscurlock]

like your atty said, its up to you...I would not tell them, nor
would i give it 2nd thought or loose sleep over...do not
give them a reason to rush..(just in case) you got another
threat letter like many, many of us get all the time...

[Moneypenny]

what was the threat exactly?

i am at the 6 month mark with BoA and they were heavy handed at the end, but it was because it was (according to what they said) the last chance to settle before they discharge the debt.

I wasnt sure what to do, so I didnt answer their calls. dont know what they are going to do next, but I am filing soon so I am not worried. Maybe send to collections, maybe send to litigation. who knows. I imagine they will take a little while to move on it. If you learn anything, let me know and I will do the same, since we are at the exact same timeline.

MMP

[justbroke]

The threat usually is... send us money or... we'll send more threatening letters! Sometimes it's funny to read the escalating tone that they take. Of course, when they actually serve you... it's no longer funny.

Get some rest MMP!

[ApresMoi]

They said to call by a 'deadline' of 4/7 (tomorrow). I have decided not to call. I have reason to think this is the last step.

The way I am dealing with it is getting the petition ready faster. I made really good progress on getting most of the corrections made today...just a few more things to do and then they can revise the Petition. Hopefully we can get that done tomorrow. The only 'unknown' is how long it will take the Attorney to review the revised Petition. They can't let it go out the door without a second pass at it. I will plead my case for a quick review, since the errors were not my doing. Then I sign and we file.

I also have a backup plan if I do get sued before we file. I am filing in the Central District of CA and they have a Pro Bono program for those who cannot afford Attorney fees. No point in calling now, as they won't even talk to you unless you have already been served. But I think I can get advice that way (plus advice from this forum) if it happens.

The law firm I hired made it clear that their fee does not cover anything other than the filing. I'm fine with that; I got a good deal on the price.

They've actually turned out to be quite good. Mistakes up front, yes, but very accessible and quick to get the corrections made.

what was the threat exactly?

i am at the 6 month mark with BoA and they were heavy handed at the end, but it was because it was (according to what they said) the last chance to settle before they discharge the debt.

I wasnt sure what to do, so I didnt answer their calls. dont know what they are going to do next, but I am filing soon so I am not worried. Maybe send to collections, maybe send to litigation. who knows. I imagine they will take a little while to move on it. If you learn anything, let me know and I will do the same, since we are at the exact same timeline.

MMP

[liz417]

Oh, I was given plenty of "deadlines" and "if I don't call back before such and such time tonight" it was the "last straw" and a voicemail was once left that said, "Ms. Liz417, your game is up..." (this one had me a little concered) blah, blah blah...don't let them intimidate you into filing before you are ready.