Citibank....speed demon??

[ccsjoe]

We stropped paying our cc's this month to save for attorney fees and file CH7 by end of month, that way none of our cc's would be even 30 days late at time of filing.

I thought we would have a couple of weeks before the calls started, however, an AA credit through Citibank surprised us by starting the calls only at 3 days after the due date. Are they ramping up collection efforts? I don't want to tell them we're filing until our attorney confirms that evrything is nicely tied together. Anybody else had experiences with Citibank like this?

Thanks

[frogger]

They waited 3 days? Some of them are starting at 1 day late. Guess you got lucky...

[DebtHater]

We stropped paying our cc's this month to save for attorney fees and file CH7 by end of month, that way none of our cc's would be even 30 days late at time of filing.

What's so magical about your cc's not being 30 days past due when you file? They will all show IIB once discharged regardless if they are 30, 60, 90.... days past due. Since you're filing a 7 the late payments will go away before the BK on your credit report.

3 days after payment due isn't bad. If you're lucky they will wait another 3 days before calling again.

[ccsjoe]

Judging by the responses, I'm guessing this is norm. I do apologize folks, but we did not know what to expect as we've never been late; we were hoping to get a couple weeks before the calls. At least they're not harassing yet.

[DebtHater]

At least they're not harassing yet.

Don't let them harass you. This works best when YOU control the conversation. Besides the collectors really hate when they can't control the conversation.

[professorkev]

Anyone... Is it really helpful for credit reporting/scores if you do BK before the lates start rolling onto CR?

[flyinbroke]

A BK is a nuclear blast on your credit report; lates won't matter.

However, a CH7 will mean that you will get credit offers almost immediately...they know you can't file for several years. So you can rebuild your credit...if you are self-aware enough to know what got you to a BK in the first place.

[wonderingrov]

For me, Citibank started calling after 10 days late on my accounts. I'm not sure if there is a rhyme or reason as to when they start.

I know different people have different ways of handling those calls. For me, I knew I was going to be filing bankruptcy, so I just didn't take the collection calls until I had retained an attorney (just let them go to voicemail).

[professorkev]

Chapter 13 is just plain wrong! Everyone should be allowed to do a chapter 7 withing reason. that means test is a joke. My friend was telling me about a friend of his who has a nicely remodeled home, Tv's everywhere, atv's toys and a pool and blah blah. THen he said the the guy brags about whenever he got in over his he would just BK and start over again and BK again! People like that should be shot not just for BK'ing all the time but for believing toys and such make for a good life!

[flyinbroke]

If he has all this stuff, he does not qualify for a 7. He may be in for a rude awakening if he thinks he will get a 7 and get to keep his toys.

[LoadedGuns]

If he has all this stuff, he does not qualify for a 7. He may be in for a rude awakening if he thinks he will get a 7 and get to keep his toys.

He sure as hell did prior to Oct. 2005.

[packerfan]

Yeah its guys like that who have made filing Ch 7 so difficult..He probably is playing games now as well.

[ryan]

It would be interesting to know what percentage of people who wanted to file Chapter 7, but couldn't....I see many attorneys saying most can still file a 7, even with the new laws.

[flyinbroke]

Raising hand...I could not file a 7 and I own squat. No expensive toys, no beach house, no Ferrari in the driveway. Not enough exemptions (dependents) either.

That is why I decided against BK and prefer playing the "sue the collectors and elect arbitration" game. Eventually they will go away and probably a lot sooner than a 13 will be paid off (however, I only have 5 accounts with 3 OCs that are delinquent...YMMV.)