What does it mean when the collection calls slow down?

[tod183]

We quit paying in September 2009. We finally got around to filing last month, August 2010. Discover Card beat my filing by about 5 hours and sued me, and we beat them by one day on suing my wife! So we got to nearly a year. Now our debts with them weren't enormous. My wife owed them about $6,000 and I owed them about $2,000.

[jacko]

Let me get this straight, you filed BK on just 19K debt?

I can tell you from my experience -

1st lawsuit came about 60 days after ignoring the collection attorney calls - no letters received - 6K - I lost this case and now have a judgment which is my reason for filing BK.
2nd lawsuit came 5 days after I sent a debt validation letter to collection attorney - no calls received - 10K - case is still pending. I have a court date for their summary judgment in Oct.
3rd lawsuit came about 30 days after I sent 2nd collection attorney a debt validation letter after I received their first letter - no calls - 3K case is still pending. I have a court date end of Oct.

So it varies. I have heard that Chase and Cap One tends to sue quickly.

[rjmwx81]

Let me get this straight, you filed BK on just 19K debt?

Everyone's situation is different. That might not seem like a lot of debt to you; it can be overwhelming to others.

The same thing works the other way around. I've seen posts by people with 150k of income asking if they qualify for a Ch. 7, and for a moment, my response was "Huh?" But when you learn about their circumstances, you come to understand.

[nfreeze]

Wow do I feel lucky! I stopped paying the credit cards in 2008 and got sued for the first time in February 2010. They obtained a default judgement (Advanta Business) in April for $11K. They had turned the account over to an in state attorney.

That being said, I had 29 credit cards- Over half business which was a sole proprietor. I will never make that mistake again. My other company is a small LLC but I still do not personally guarantee anything. Makes it a bit rough sometimes but building the business credit so it can stand on its own.

Have a desk full of letters from OC, collection agencies, hit men (haha) you name it that are just waiting until discharge before they hit the fireplace and provide a little heat for winter. Makes up for all the extra strength Tylenol I have had to buy over the past couple years.

Allied Interstate were the biggest PIA and used to auto dial my cell every day at 8:10am, 10:30am, 1:30pm, around 5:30 and again at 8:50pm each evening 7 days a week. I would just pick answer it and hang right up on them.

Been nice to answer MY phone since I filed. :-)

[jacko]

I don't see how 19k can be overwhelming. Its just a inflated number. You just don't file BK on such little debt. I'm up to $65k with the inflated interest and fees. Sleep well. Only two have sued and got worthless judgments.

Everyone's situation is different. That might not seem like a lot of debt to you; it can be overwhelming to others.

The same thing works the other way around. I've seen posts by people with 150k of income asking if they qualify for a Ch. 7, and for a moment, my response was "Huh?" But when you learn about their circumstances, you come to understand.

[flyinbroke]

OK my experience: GC is a frequent violator. They called 40 times after signing for the "all calls are inconvenient and I dispute" and did not validate properly in my state. They blew off a demand letter from me. I got a lawyer and they blew him off too. So off to court I go...I may file next week. They do tend to notice when the first letter says SUMMONS. They did kick it back to OC.

Citi sued me six months after I stopped paying. Problem with that is that I elected arbitration to settle disputes (their law firm is part of the frequent violators club too) and they filed suit after receiving over five letters detailing that I elect my right to arbitrate (which, if you read the agreement, means no litigation for any party.) So they may be in a world of hurt there. I am doing my answer, my motion to dismiss due to lack of jurisdiction, my motion to compel arbitration and may even throw in a motion to sanction both Citi and their attorney...not to mention that pesky state bar grievance.

[Freddy03]

Let me get this straight, you filed BK on just 19K debt?

No my total unsecured debt is about 49K. I am filing because of the judgment and soon to be 2 other judgments and taking 25% of my huband's pay and possibly my car that is paid for would hurt us even more finanically.

[Freddy03]

Also incase anyone else is concerned about my amount of debt - I got caught in the payday loan and NSF charges that it because too much to dig out. My paycheck disappeared before I even received it.

My BK process has taught me to budget and don't rely on payday loans and overdraft protection plans to bail me out. If I don't have it I don't spend it.

[ryan]

(Actually yesterday was the first day without any collection calls in like forever! ...quite weird... Its like all these various creditors got together and said, "today, we wont call him, just to mess with his head!")

I was first sued by Chase after 7 months of non-pay. They are truly quick it seems, and I was also in one of the areas they have inhouse collection lawyers. Then 2 months later Citi sued. Have many other CC that have not sued (yet)...

(In my court district, Chase is the largest filer of lawsuits of any single creditor, from what i can tell.)

Most lawsuits, I'm finding, take awhile to reach the judgment stage. ...and then the creditor has to start working to try and enforce it. I am not concerned about wage garnishment, just potential bank levies.

As many have said, its hard to understand the 'supposed' logic of who they sue and when they sue. I do know one lawyer I talked to awhile back said many creditors subscribe to a service that 'rates' your likelihood of filing BK, and that is factored into their decision matrix...

[Freddy03]

Once I received my first summons I started keeping a log of when each creditor called and when each letter was received to see if I could come up with a pattern of when I would be sued next. I can say there is NO pattern. Every company was different.

I'm pretty sure my name is on some "sue her now" list out there b/c I received all 3 summons within a few weeks of each other......lol

[flyinbroke]

Citi is trying to catch up with and pass Chase, I think.

[Quagmire]

Thank you very much Everyone! I appreciate you taking the time to provide me more details of your experiences. As near as I can figure, I may have a little more time to try to figure out what I am going to do, but it sounds like once an attorney letter arrives (from any credit card company), I am out of time with them. I know that everyone’s situation is different, in regards as the collection calls and letters, however this is the first time I had heard about the attorney letters. YIKES!!! So far, I have not received any yet . . . but thus far, I am less than 150 days past due on any of my delinquent accounts.

Thanks a MILLION Everyone!

Quagmire

[tyson24]

Also incase anyone else is concerned about my amount of debt - I got caught in the payday loan and NSF charges that it because too much to dig out. My paycheck disappeared before I even received it.

My BK process has taught me to budget and don't rely on payday loans and overdraft protection plans to bail me out. If I don't have it I don't spend it.

I never had payday loans, but boy do I know this now. If I cannot buy it with cash, I do not need it. Or if i need it, I have to get rid of something else. No more credit for this chic

I don't care if AM EX is standing there with a black card...LOL No thank you!

[tyson24]

Quag,

I hope you get everythng figured out. I know you still have some time based on my own experience. How much is unknown, I think it is a toss up for everyone.

[Quagmire]

Thanks Tyson24.

Quagmire