will I get sued? Or can I avoid it?

[pepperoncini]

We have paid the full retainer for an atty for BK13. Filed BK7 in 2004 after our daughter's drowning death.

We're low income (food stamps, welfare...*sigh*) and have 4 kids. Make $37K a year.

I want to hold out two years and file a BK7 when we are eligible again. My best calculations say we'll pay $20-$30K into a BK13 with our tax refunds and payments.

$20-$30K would pay off one of our student loans!!

I'm trying to stay still until we can file a BK7, but I dunno...2 years is a LONG time. We're 1 year behind with Chase (highest debt) at $9K...they charged off and I DV'd the CA...

Does it make a difference if you've retained an atty? Right now, I'm directing all the calls to him.

[AngelinaCatHub]

I'm not understanding this. You are in a 13, but filed a 7 in 2004 and are waiting to file 7 for two years? Clear this up please.

If you cannot do a 13, it can be changed to a 7. You cannot get another 7 for 8 years if you got a discharge in the 7. If you did not, you can turn the 13 to a 7 now. Clear this? 'Hub

[AngelinaCatHub]

Try this link, it could help:

http://www./2008/05/04/when-can-i-fi...kruptcy-again/

'Hub

Copy and past to your address bar. I believe links have been limited here. Don't copy the quote marks.

Edit: I cannot fool and copy the link. Google "when-can-i-file-bankruptcy-again" and you are looking for "Bankruptcy Law Network".

[NoMoreCards]

I am probably missing coffee this morning, but I think what the OP is saying is

"We have paid the full retainer for an atty for BK13. Filed BK7 in 2004"

I read that differently ACH, I think the OP wants to file a 7 now, but can't get a discharge because the 8 years from 2004 has not passed. So file a 13 now to stop lawsuits and garnishments, and convert in 2 years to a 7 when a discharge would be possible.

[ryan]

Pepperoncini: how many CC do you have besides Chase?

[OHBOY]

Until you file for bk you'll be vurnable to receiving lawsuits, however directing all calls from cc to your attorney should act as to deter the lenders for a while. How long ? ..who knows. Then again, if you are going to file anyhow who cares if they start a lawsuit ? I would think that it's not a 'big deal'.

[pepperoncini]

Ok - I have paid the retainer to the atty, but we have not FILED anything YET.

I'm trying to stall the BK13, so I can file a BK7 in two years because we were discharged in 2004 on a BK7.

That make more sense?

Besides Chase, we have several cards...including the quick to sue Cap1. The BK atty said that each creditor can only garnish us for $250 a YEAR. Right now, we're directing all calls to the atty and no one is hassling us. This will be the first month that we don't pay any CCs.

[LoadedGuns]

Ok - I have paid the retainer to the atty, but we have not FILED anything YET.

I'm trying to stall the BK13, so I can file a BK7 in two years because we were discharged in 2004 on a BK7.

That make more sense?

Besides Chase, we have several cards...including the quick to sue Cap1. The BK atty said that each creditor can only garnish us for $250 a YEAR. Right now, we're directing all calls to the atty and no one is hassling us. This will be the first month that we don't pay any CCs.

The calls will increase as you grow deeper into delinquency on your credit cards. Since you're just in the beginning stages and already have a paid retainer. I would try and stall as long as possible. Remember some creditors will sue after 90 days.

[pepperoncini]

So would it make the most sense for us to pay DH's cards (like Cap1) as much as we can and let mine go?

I'm a SAHM, have been for 14 years. I have no property in my name except a 1994 car. The house - both the mortgage and the taxes - are in DH's name alone. We live in IA which is not a community property state.

Our bank account is a question though...it's joint.

Creditors include:

Cap1
Chase (CO)
Merrick (CO)
HSBC (in collections)
Barclay's/Juniper
Macy's
GEMB
and a couple citi-branded cards

[lisamomof4]

you want to check the BK laws for your state. i'm in illinois. what we did was this: dh and i split our account. we left our old account open and we opened a new one at different bank in just his name and one in just my name at third bank. so we would at least have a chance if they went after one of us of still having one account work

[pepperoncini]

you want to check the BK laws for your state. i'm in illinois. what we did was this: dh and i split our account. we left our old account open and we opened a new one at different bank in just his name and one in just my name at third bank. so we would at least have a chance if they went after one of us of still having one account work

I wouldn't be protected by BK law until we file. And I'd like to delay that for 2 years.

I guess I'm wondering if that's completely irrational. Is it irrational to believe there is a chance we will not get garnished or levied in the span of two years.

Or would the retainment of an atty coupled with the fact that a creditor can only garnish in IA for a maximum of $250 a year for a family our size with our income be enough of a deterrment to potential garnishment?

[ryan]

I guess I'm wondering if that's completely irrational. Is it irrational to believe there is a chance we will not get garnished or levied in the span of two years.

Nobody knows. Its not a very predictive thing. I'd say 50-50 chance.

[tay666]

I guess I'm wondering if that's completely irrational. Is it irrational to believe there is a chance we will not get garnished or levied in the span of two years.

Well.
I can tell you that it is possible.
We are over 3 years without paying any of our unsecureds.
At around 2 years we started getting suits.
I think there are 4 judgements against us right now.
But that doesn't really mean anything, as they haven't done anything with those judgements.
Haven't touched a bank account (don't keep much in them just in case)
Haven't even tried to garnish wages.
And as far as I know, they have not placed a lein on any of our property yet either. Lawyer didn't find any when we finally were able to get the ball rolling a couple months ago.

You state you are low income. They can't touch any of your public assistance.
If you are really worried about it, you can try to stay current on anything that your husband owes so you don't have to worry about his wages.
I would go ahead an get seperate accounts so that there is no co-mingled money. That should insulate his income even further.
If you intend to wait out the 2 years, I would spent that time wisely.
It gives you a lot of time to pre-plan and get your things in order. Which should help you to have smooth sailing through your eventual bankrupcy.
Pay as much as you can on your student loans as they won't be wipped in the BK. And don't waste any more money paying anything that is just in your name.
IF it were me, I would transfer as much of the debt as I could to the collections-proof spouse. If you wait 2 years, those transfers will be well beyond the look back period.
Some might call that fraud, but I think most would agree it is prudent BK pre-planning.

[epiphany]

I wouldn't be protected by BK law until we file. And I'd like to delay that for 2 years.

I guess I'm wondering if that's completely irrational. Is it irrational to believe there is a chance we will not get garnished or levied in the span of two years.

Or would the retainment of an atty coupled with the fact that a creditor can only garnish in IA for a maximum of $250 a year for a family our size with our income be enough of a deterrment to potential garnishment?

Yes, it is completely irrational to believe that you won't be sued and entirely probable that you will be.

You can't know for sure so you need to manipulate the outcome or roll with the punches.

Good Luck To You.

ep

[flyinbroke]

It all depends on the creditor and what you may have. Chase and Cap1 are notorious for suing quickly. However, not everyone here has been sued by them.

GE Money usually pawns things off on CAs that break every rule in the book (I have two GE accounts, both CAs are being sued right now when a NACA attorney took me on contingency.)

BoA rolled both accounts into one for collection purposes and the CA broke every rule in the book. (Another lawsuit. The lawyer is working on nailing the OCs as well as the CAs. I suspect he may have found something with them reporting this as two debts, but only collecting it as one.)

For me, Citi skipped the CAs and sent it straight to a collection attorney, who is threatening "legal action." Now that NAF is gone, I have elected arbitration so they will not be able to sue. Creditors are no longer allowed to elect arbitration after they have been caught in bed with NAF who was sued by the Minnesota AG and is out of the arbitration business.

(I chose a different path because I don't qualify for a 7 and a 13 would kill me financially. I am current on all but 5 accounts. My way is not the right way for most...most are not able to pay a thing and BK is a good option. )

Nonetheless, you are not protected from suits until you file, and some are quicker than others....and may never sue at all depending on situation. You can always lag and drag and file the second a suit pops.