What amount will CCs sue for?

[flyinbroke]

They will never put anything in writing. I asked for a payment plan proposal from BoA, and they said they would send it. That was 3 weeks ago; got a VM from them claiming that "we never finished the conversation about payment plans" which we surely did. That "recorded for quality assurance" tape is most certainly lost.

I don't bother answering my phone. They have the same number for all my numbers. I don't have time to dicker on the phone, when they want me to give up bank account numbers and won't commit to anything that may hold up in court (hence, no writing).

You have not fallen off the radar...they may go for lower hanging fruit for the time being (those they can terrorize into paying) but they will return. I am hoping to get some serious airtime (like a year) before having to file.

[BKDefender]

Your husband won't change his mind until he is sued and he finds out that if the creditor gets a judgment, the creditor can start taking his wages,motorcycle, RV, boat, and other non-exempt assets to pay the judgment.
You'd be amazed at how many guys are willing to do whatever it takes to pay a judgment if you threaten to take their Harley.

--William

[LostNFound]

I couldn't agree with you more. But he has this illusion that he can sell one of our rental houses and make enough money to settle with one card at a time. Now, I'm not an attorney nor do I understand how cc companies work, but it would be my assumption that the other cards would catch on to the fact that we paid off a creditor and come after us. And that's only IF we are actually able to settle. Judging from the experiences of others on this board, I'm not even certain of that.

I am not done pushing the idea of BK. I read more and more info every day on here to help educate me by reading the mistakes of others. I only hope we can get out of this situation soon and BK may be the only way to do that.

[GRINGO]

First thing I have done to stop collection companies in there track was-1. Changed my phone number(unlisted,ect)2. Went to their Web site for my account and changed my phone number to a old invalid number(checked to make sure it was a none working number). Now I receive no calls, once In a while one will come thru but my voice mail says the phone is currently out of order(which its not). Now that I have stopped the calls, I work on sending every collection company a debt validation letter-certified mail, return receipt. In it I let them know the standard things, but I also let them know I am a consumer who knows the law, most of my income is untouchable per federal law. Also a chapter 7 is imminent. Actually I can't file for another one till about 1 1/2 year.(need to hold them off a bit longer) Right now, This has worked for 90% of the companies except porfolio which is a junk collection company. I have sent them 3 letters, they have illegally re aged the account(a big violation) without validating. Also they haven't complied-asked them to send a signed contract, proof they are liscensed to collect in my state,copies of all bills, ect. They said they couldn't help me unless I provide the information to assist them. What they are hoping is you send them something so they can use that against them-they can't validate. Too bad. Also advised legal action if any incorrect information is reported to the collection companies. MOst companies won't respond to these letters because they know its easier to go after someone else. I also went to several hundred web sites and pasted all the info needed to assist me in case they do file a law suit. I don't need a lawyer. I filed a chapter 7 years ago without a lawyer with over 80,000 debt after a severe medical disability. Everyone had a lawyer in court but me. THe judge said I see you are representing yourself-I said that right-everything was perfect. The bottom line there is lots of information available-just respond, don't throw those debt letters in the trash, file a debt validation on each one a keep a record.If sued go to court and fight with any discrepanies-ask for the contract! Also don't sign those letters as they can use your signature illegally on a document against you. Of course I'm not a lawyer-I am a highly informed debtor who knows how to fight back-I am the collection companies worst nightmare-I keep all letters, correspondence, file with Federal Trade Commission on all violations

[keptdigging]

I got sued in about 100 days by Amex (biz card around $40K.) There seems to be no predicting. Though they filed ten days ago and I still haven't been served. It's become kind of fun... they don't know I know... but only because I have counsel and a timetable now. They gave me the swift kick I needed.

[funcritter]

I had all kinds of CCs and quit paying on all of them on september 2008. I had a few Capital One cards, Gap/Banana Republic/Old Navy, Circuit City, two Best Buy Cards, Barclays, Bill me Now, GE Money Bank, Discover and a few others, Half of them had limits over $3,000 and the rest were between $600 and $2,000. To date, not one of them have sued and all of them have sent settlement letters.

My chapter 13 was filed yesterday and my total debt was just over $60,000. Maybe they knew this and knew it was hopeless in recovering any of it and my "reported" income on my taxes for the last three years was less than $16,000.

As for phone contact, back in September 2008 when I quit paying all my accounts, I logged into each of them and entered fake phone numbers for my cell and work. I have had only a cell phone for the last two years and have not gotten one collection call. At work, my boss would get a call almost everyday from the same place and since I work nights, they were never able to get ahold of me there and my boss was always cool with it being that I've worked at the same place for almost 16 years.

As always, your experience will vary and no two experiences will ever be the same.

[BKDefender]

keptdigging: After contacting the attorneys for American Express Centurion Bank, which was the Plaintiff is a case against my clients for a $52k AMEX, filing a motion to vacate the default (they served the son who is the same size and height as the dad), and informing them that I was about to file bankruptcy for my client, AMEX voluntarily dismissed the case without prejudice instead of re-serving and fighting a losing battle.

Another attorney on one of the mailing lists I'm on said that AMEX vacated a few judgments against his clients after he informed them he was filing bankruptcy for them.

I'm not sure if it's a pattern or just coincidence, but it looks as if AMEX might be backing off of cases where the person is filing bankruptcy, so make sure your attorney tells them that they've been hired to prepare and file your bankruptcy petition.

--William

[shark66]

We've had a couple of written offers to settle, one of them being from Chase a while back. Places like Macy's will throw you offers to settle all the time in my experience.

We got sued for two fomer WaMu cards, one was originally $2,500 limit and the other one was $10,000. Sold to different bottom feeders, both sued through different law firms.

Meanwhile, we have a couple of other CCs where I would've expected to get sued a long time ago, still nothing - knock wood.

My experiences only.

[tobefree]

We stopped paying ALL our debt in October 2009-by Dec 2009 we received our first summons from citifinancial 12/26/2009 (unsecured personal loan) $10K. We responed as requested within the 20 days, judgement filed 1/11/2010. No court date presented-final judgement issued 3/18/2010.

I was served a second summons by chase 3/26 and they recorded my answer as received 4/5/2010-amount (2 cards approx $8K)

My husband served by chase one card approx $9K served complaint summons 4/6 mailed response 4/16/2010.

I check the counties clerk of courts office just about every other day so i will know in advance if i need to expect another officer with a summoms-LOL

Everything happened fast for us. So far no wage garnishment-i do not work and hubby makes less than $500 a week( due to loss of construction work due to economy )-which is untouchable here in FL.

My only worry with this is that i have a car I own-(95 mustang) /hubby has 2001 GSXR / and we also have a 1/2 acre lot-Im scared they will put a lien on these items -mostly citifinancial-they were the worst calling every day! All three of these items may just equal $10K. But not sure if they can put a lien on more than one item i own..

But i guess i will face that hurdle when/if it happens -cant file 13 until aug/sep due to mortgage modification (crossing fingers-in trial now)

Harley Davidson and Sovereign were even QUICK to repo our vehicles. Both went within a week of each other-Jan 2010. -stopped payment oct 2009