Question Will they Get Us?

[freefall]

We're going to have to file bankruptcy, there's no doubt about it. In a month, we won't be able to pay our credit card bills. In fact, we won't be able to pay anymore at all.

When will they start collection proceedings? Can they take money from our checking account?

We had a telephone consult with a lawyer we're seeing next month, and he says all they do is bluff. I'm sure it will be several months (4 or 5 anyway) before we will meet the means test.

Any responses would be greatly appreciated.

[Ifonly]

If you read thru the various posts in this forum, you'll see that there is no set answer. The amounts of debt and as to when the creditor moved to legal action vary wildly.

Myself, I stopped paying some cards in September of '08 and have yet to have legal action and I stopped paying AMEX in late February of '09 and they already served me.

I myself would not tell creditors that you are filing until you're closer in case that speeds them up.

[freefall]

We have an appointment with an attorney in the first part of next month. Hopefully, he will give us some going forward strategy.

[albacore44]

relax a bit, talk to a couple of attorneys, then make your plan. I decided where I was headed last October. I stopped paying Cc's in Feb. I just received 1st letter today from GE/chevron threatening to send it to collection agency. I'm going to wait everything out untill someone gets ready to sue. then I will file. I think you have plenty of time. good luck to you

[kenshirley]

We made it 4-6 months with most companies with no payments at all and no problems until we could file Chapter 7.