How long have folks waited to file without lawsuits?

[mlevesque308]

Just asking the question................not sure if I should wait a bit more, even though I'm meeting with attorney tomorrow. Would love to hear folks timelines.

[AngelinaCat]

Well, that can depend on many different factors. We started thinking about filing in 2006, and retained the attorney in August of that year. We were planning on a Ch13. We were advised that we would have to wait until at least July of 2007 before we could file because of a yearly payout from a Retirement instrument in January of each year. We had to let six months pass.

Lawsuits from a loan company (American General) and a credit union for a car note that 'Hub had foolishly co-signed for, began around August 2007, if I remember correctly.

At this time, our attorney was dragging her feet. The pre-filing credit counselor we went to, said that we were better suited for a Ch7 rather than the Ch13, we were trying for. I lost my FT job September 30, 2007, so that made filing a Ch13 impossible.

The attorney still dragged her feet, and the lawsuits were now starting in earnest. We had to camp in the attorney's office on the last business day of 2007 (December 28) to get that woman to file our paperwork, or we would have to wait six more months past January again because of the Retirement income. By that time, we would have had a couple of judgments to contend with and we did not want those.

[TXskyblue]

I waited 6 months after I stopped paying my credit card bills to file. Got a lot of phone calls, but no lawsuits.

[tobee43]

we waited a bit over 2 years after we stopped paying most of creditors, then moved out of home after over 30 years, without a forwarding address, actually stayed off the grid for those 2 years. filed in a our new state. we waited that long for a few reasons, one to get the wildcard exemption you needed to prove a min residency of 2 years, and also there were questions on the petition that started out with:"within 2 years have you...or list everything with 2 years ..." we wanted to be able to answer truthfully NO to those questions.

we only got a few calls before we left, after that no one ever called us since they didn't know where we were. we actually told each neighbor in our old neighborhood that we were moving to a different state, one we told calif, one az, on fl or la...so no one really knew where we went. that was just in case creditors that could locate us went to our old neighbors. worked out well for us. no lawsuits at all. during that time period. we did have some judgments from a business that needed to be vacated after our close. but that was it.

[Pjmax]

I waited about 3 1/2 yrs. to file after my first job layoff. Had 1 lawsuit about a year and a half in, two more threatening just before I filed.

I don't know what your reasons are for considering a delay, but the longer you wait, the longer everything will be on your credit report, and it just prolongs the phone calls, harassment and the inevitable.

One very common statement from most of us who have filed is 'I wish I did it sooner.'

[tobee43]

I waited about 3 1/2 yrs. to file after my first job layoff. Had 1 lawsuit about a year and a half in, two more threatening just before I filed.

I don't know what your reasons are for considering a delay, but the longer you wait, the longer everything will be on your credit report, and it just prolongs the phone calls, harassment and the inevitable.

One very common statement from most of us who have filed is 'I wish I did it sooner.'

you're so right Pj, not many people are able to pick and leave it all behind them like we did. had we stayed in nj we would have filed much sooner for the exact reasons you have stated.

[mlevesque308]

I think I'm just going to do it. I guess it's because tomorrow is the day to meet with my attorney, he really wants me to do this. My case as he refers to it is "unsympathetic" case as I'm waayyyyy over the median. I make $95K, and in RI its something like $47K. So, he was the one that pushed me to consider Ch7, when we both sat down origionally, he thought it was going to be a CH13, but after factoring out my mortgage just under $2100/per month with tax, hoa and insurance and the $1000 alimony payment. He suggested a new car (one I had was paid off), upping my term life policy, adding to my health and dental plan, getting a disability plan and not forgetting to put down my tithing. And, I just filed my taxes (last year with the Ex) and we owe $3150, I was the reason why we owe, so I'm left to pay it. Reason why I'm stuck here, I was left with maritial debt in the tune of now.........$153K since interest and such has taken over. So, with everthing I've listed I'm in the negative in the means test of -$573

I guess I'm nervous that I'm going to be picked about and the "subject of abuse" is going to come up, I'm thinking it will anyway, just because of how far over the means I am. I got into this mess after my marriage was falling apart, my husband got laid off, i was totally depressed and making irrational decesions (like gambling/buying god knows what), my income took a dip, I was making well over $120K with bonuses and stuff. I will say I never took a cash advance and I'm last transfer was 2+ years ago. I haven't used those cards in 13-months and was current on small ones, but Attorney told me to stop paying those. I will say we are since divorced, I sought help for my depression and couldn't be happier. I'm just stressed out.

[question asked in another post deleted by moderator]

[mlevesque308]

Sorry about the typos, I'm multi-tasking. LOL

[LadyInTheRed]

mlevesque308, just file and be done with it. Yes, you very well may get an objection either based on abuse or totality of circumstances, but that does not mean you shouldn't file a Chap 7. Don't let the term "abuse" scare you. It doesn't mean you've done anything wrong, just that the trustee doesn't think you really pass the means test. It sounds like you have a good attorney who is willing to play the game that often (but not always) must be played when somebody with twice the median income files Chap 7.

Please don't repeat a question that you have already asked in a another thread. I edited your post to delete the question that has now been answered in the other thread. It causes confusion when people start answering the same question in 2 different threads. Please be patient when waiting for a response to a post, especially when you are in the East. You posted the first question at 3:30 a.m. Pacific Time and posted it again in this thread at 8:42 a.m. Many board members were just starting our day.

[mlevesque308]

LITR,

Thank you. I will make sure I don't do that in future.

[dragondad]

It has been almost a year since I stopped paying unsecured. Lots of phone calls and letters and threats but no suits so far. I will be filing soon, I woul dhave earlier but I had started the loan mod process, and the lawer we consulted with told us if we thought we could get it to do it first. Got my mod, new terms began June 1st, so now I am going ahead. If you don't have anything in process that could be impacted, I would go ahead and not wait.

[Pizza]

My first lawsuit came after 3 years of non-payment. They did not get a judgment.

[iswmle]

I waited 6 months. I had gone in for a consultation but at the time I was still (frantically) making payments. My lawyer told me to stop paying my bills and then file. Which is what I did. It was a very quick process for me. No lawsuit threats.

[keepsmiling]

We weren't sued for over two years. But YOU.... you are low hanging fruit, and I mean that in the nicest possible way.
With your income, they will be on you like white on rice.
File and move on with your life. Sounds like you have a great lawyer, a great attitude, and a great fresh start on the horizon.

[stevie2012]

I stopped paying all of my credit cards in September 2012 and filed in May 2013. Surprisingly, collection efforts started when I was 2-3 mos past due with just letters. Then the calls started shortly thereafter. When the calls started, I referred them all to my atty and requested C&D on all numbers. No calls after which point. No lawsuits filed pre BK.