Just a couple questions?

[sixxlondon]

First off I just want to say how much this website has helped me. I never thought I would consider filing for bankruptcy but after long consideration this seems like the only option. I have spoken to a couple lawyers and want your thoughts on a couple things. I have a couple payments set up for next Friday on a couple cards. I am going to go and cancel those payments to use that money for the lawyer, He said I should close that account just in case they go and cash them. If I cancel the payments online can they really go and cash them anyways. This month is going to be the first time I have ever not paid any bills. I figure it will take about 2 months to save the money for the lawyer before he files. How soon can a credit card company start suing you? Thanks for any answers.

[CCBmama0f3]

I am in your same situation and from what I have learned on here it is around 6 months. We are trying to file as soon as we can but this past month was the first month we didn't pay our bills, I feel so sick to my stomach

[sixxlondon]

Sick to my stomach is an understatement. I am paranoid. And I have no one to talk to. I am keeping this from my family and friends so this website has helped a lot. Good luck to you.

[CCBmama0f3]

Thanks! If you need to talk just PM me, I don't have alot of experience with this but am willing to listen and offer support

[filingsoon]

Don't worry about the credit card companies suing you sho shortly after your first late payment. If you see other posts, you can tell that it takes them a long time to ever getting around to it if they ever do. I personally before I filed my BK quit answering the phone since everytime I talked to them I would get so upset.

My advice is to not answer their calls or return any of them. You can get away with this for at least 6 months. They will get to be very persistent in calling almost to the point of abuse. Car companies will usually keep the calls in house and not turn over your account to a collection agency for 3-6 months. Collection agencies can be more aggressive since they only want one thing your payment.

If you do answer the phone by accident you can lie and say you aren't you or take the call. Whatever you do I wouldn't mention bankruptcy to them. Just tell them the truth, or lie whichever you prefer. Close the bank account that you have that the electronic payments are set up with ASAP.

Also, if you have any bank accounts with the same company, for example a Chase Mastercard and a Chase Checking account, switch banks now to one that you DON'T have a card with. Same with your mortgage and other debts that they can take the money from and close your account when you file BK.

I had 2 cross country moves (due to job pursuits) and never called my card companies from March 2008 and I filed for BK in September 2009, discharged in 12/09. Never had spoken to a card company since either.

Oh, and don't worry about getting cards later, you will be able to all in due time.

[747LUVR]

Sixxlondon, welcome to the forum....your peers here will offer the best advise and support known to mankind, in these circumstances. What you will experience is highs and lows, anxiety, to bits of freedom, to fear, and relief..it really will go in all directions thru out the whole ordeal. As previosuly mentioned, it does take most creditors a while to get around and sue, they're certainly not going to do it for someone 2-3 months behind, heck, with the new laws, they cant even penalize your APR till your 60 days past due...so breath My wife and I have been in our 'boat' for almost 2 years now, just hoping we get our discharge next month. Best of luck! After your endure this, you will probably say 'never again' to cc's. I know I have.

[frogger]

First off I just want to say how much this website has helped me. I never thought I would consider filing for bankruptcy but after long consideration this seems like the only option.

Welcome to the club.

I have spoken to a couple lawyers and want your thoughts on a couple things. I have a couple payments set up for next Friday on a couple cards. I am going to go and cancel those payments to use that money for the lawyer, He said I should close that account just in case they go and cash them. If I cancel the payments online can they really go and cash them anyways.

Could they? It's possible, but not likely. The automatic payments are computer generated, not people generated. If you cancel them, the computer will not know it is to create a payment.

This month is going to be the first time I have ever not paid any bills. I figure it will take about 2 months to save the money for the lawyer before he files. How soon can a credit card company start suing you? Thanks for any answers.

How soon? You probably have a minimum of 3 months, more likely 6 months +.

Good luck.

[sixxlondon]

I pay all my credit cards with my bank account. I do not have auto payments. I just go and pay them when they are due. I am just worried that they can go and take my money without my consent. Would it look bad if I closed this bank account and opened another one?

[daylate]

if you move the same amount of money from one account to another no problem. if a large sum disappears in the transfer it could raise questions. I'd act quickly to avoid having the automatic payment process. better safe than sorry.

[UghUghUgh]

Hey Sixx,

I about died in August when I did not pay my CC for the first time. Its hard to do it the first time, really hard! I did it and I LIVED!
I heard nothing the first 30 days. At 60 days I got letters, the Oops! kind saying disregard if payment is in the mail, at 90 days the calls started.

My lawyer was awesome in that once I signed his paperwork packet, even though I had not given him a dime he said I could refer the calls to him. I did not! I was so worried that I would get sued if they knew I was planning on filing so I suffered through the calls, not answering the phone, until one day we got a call from a family member that someone from Citi had called looking for us. Uh-oh! that same day a man left a message on our machine, not what company he was but in an errie sing-song voice said that they were now going to switch to calling our business numbers (which meant our places of employment) That was when I called them all with a lump in my throat and told them I was declaring bankruptcy. Know what they said? "We understand, can I have your attorney's name and phone number? Thank you." Thats IT! The woman at Capital One was so nice I cried. She told me to not let this get me down, that we would recover from this in time, keep my head up and she wished us the best. Not a single CC was unkind or rude.

Just had our 341 on Monday. This will be the longest and most worrisome 6-8 months in your life but in the end the sun is shining and it is a beautiful thing!

I wish you the best!

[pikaroth]

You have nothing to worry about in terms of being sued so rapidly. I stopped paying on five cards in early October, and I didn't file until February 4th, and today was my 341 hearing. Not one card tried to sue me. While I'm sure it differs from attorney to attorney, as soon as I made my initial payment (I made two total), I was told to give creditors their phone number, and that stopped all calls almost immediately.

I was sick to my stomach when I missed my first payments. I couldn't eat or sleep. You are exactly where I was back in October, and I, and others, know how you feel, trust us on that. I cannot stress to you enough how this all gets better, and things get easier. The first step is, of course, the biggest step, but if this is the route you wish to take, then that step must be taken.

All of us are here for you!