One Lawsuit, Two Lawsuits: Does It Hinder Or Entice?

[ryan]

I have one lawsuit ongoing FC, and have one that was filed but not served yet.

Just wondered, does the easy-to-verify fact I have these two suits already, tend to lessen other creditors eagerness to sue..... or make me more of a target?

I feel like I could argue it either way.

[GoingDown]

It doesn't look good on your credit report, but I don't think it is even in the upper list of things they look at before they decide to file a lawsuit against you. When they are looking at your credit report, they are mainly looking for some evidence that you are still paying some big bills like a mortgage or car loan, and they look for an employer listed on your credit report. If they see those things, they figure there must be some income stream they can tap into to satisfy the judgment.

[keptdigging]

I'm at 3 suits from 2 creditors: first Amex (2 suits!) now Chase. I think the fact that I'm paying my mortgages is the reason (we're talking just 3-4 months since I was current.)

In my case they simply accelerated my filing.

Chase, who sued last, actually threatened to sue first, so I don't think the previous suit had any effect on them. In fact I called them and told them that I was already being sued and had no choice but to file, so no money for them. They filed anyway. Go figure.

[Exployer1234]

I'm at 3 suits from 2 creditors: first Amex (2 suits!) now Chase. I think the fact that I'm paying my mortgages is the reason (we're talking just 3-4 months since I was current.)

In my case they simply accelerated my filing.

Chase, who sued last, actually threatened to sue first, so I don't think the previous suit had any effect on them. In fact I called them and told them that I was already being sued and had no choice but to file, so no money for them. They filed anyway. Go figure.

It only took 1 lawsuit for me ot file. I don't know how you managed keepign sane with 3 different suits. I would have pulled my hair out after the 2nd one.

[keptdigging]

It only took 1 lawsuit for me ot file. I don't know how you managed keepign sane with 3 different suits. I would have pulled my hair out after the 2nd one.

It only took one for me to decide to file... as soon as I discovered it (still haven't been served) I retained counsel and started getting ready. They've just piled up while I'm getting ready.

The downside is I'm on the cusp of being an asset case... and one more month's worth of expenses would have definitely taken care of that complication. (And by asset case I mean the TT will get paid something. The payout to creditors will maybe 1%.)

But as I explored the logistics preserving assets for my filing with a judgment out there I realized it was time to file.

[frogger]

Just wondered, does the easy-to-verify fact I have these two suits already, tend to lessen other creditors eagerness to sue.....

The problem lies in the fact that the left hand often does not know what the right hand is doing with the big boys. If you fit their profile (model), they will sue, regardless of what's going on with others.

The smaller ones however, will be less likely to sue, because they know that they will have to stand in line in order to get anything.

If you've already been sued a couple of times, the odds are that whoever comes in third or fourth is not going to get anything for a long time.