Question How long before Credit Card companies sue once you stop payments?

[rpg1977]

I want to file ch 13 this month, but as recently as May, our bank took money from our credit card to cover some over drafts. I know they dont want any activity on credit cards for 90 days before you file. Even though I didn't use it for any luxuries (only to cover overdraft and a cash advance to pay other credit cards that were due), Im afraid they wont let me file this month.

If I stop paying credit cards this month..I know they will start calling probably next month. We have never ever been late before, so this will be hard.

Will they try to sue within those 90 days I am waiting to file? What is the general timeline to how credit cards try to collect?

Thanks

[keepmine]

Nobody can tell you when or even if a creditor will sue.
In general, you'll have 6 months or more before it escalates to legal action.

[rpg1977]

Thank you.

[liz417]

I went over a year without paying my ccs. It all depends....

You need to file when the time is right for you, don't be scared and/or pushed into filing because you are worried about being sued.

[eddiep]

Your bank took money from your credit card? Was this authorized? How much was charged to your card? The reason I ask is I was wondering if these would be considered "charges".

I stopped paying on my cards in sept. I did recieve a summons in May. It is a credit union and they seem to be more aggressive than the larger banks. And it was not a surprise to me. I knew it was coming. The letters that came from the lawyer representing the credit union were different than the other letters I had recieved. I called the lawyer (collector) and told him of my intention of filing. He said thats fine but we will continue our collection process until you have a case number. I asked why and he said many people say they are going to file and never do. It is stressful, dealing with the legal system, but we need to wait one more month before we file.

[LuciluS]

We haven't paid the majority of our Credit Cards since late last Sept. BK Attorney said to pay on one as I did a balance transfer in Aug. & he say make the 3 min. payments, & add a tad bit to each payment to show good faith. That's when we thought we were filing in Dec. or Jan.

After further reasearching this wonderful forum and reading posts after posts, it was determined I was receiving monies that would be deemed Income. It dropped off in Feb. So we will be filing Chapter 7 in 9/09.

I've talked to the CC companies twice & by accident, NCO (sneaky, used a cell phone), gave them our Attorney's name, address (some wouldn't take it) and phone number. Our Attorney advised us not to answer the phone unless we knew who was calling.

Received a few collection agency letters. Attorney said know worries until something is received Certified and/or informed of a lawsuit & he doesn't expect that to happen. He is only a Bankruptcy Attorney & in the business for 20 yrs.

Amazes me the majority of BK Attorneys' are just as 'Cool as a Cucumber' in person or talking on the phone. I get jitters just thinking about our Bankruptcy LOL!

Luci

[kenshirley]

You may have lost money to the CC payments as you agreed to cross collateralization at one point. It could have been when you joined the bank and you may not have known it.
Or it could have been when you got the CC from them.
Our attorney told us to err on the side of caution and if you have any kind of loan with your bank he recommended getting out of that bank unless you knew for certain you had no agreement.
Even then, I have heard that some banks will take your money.

[bebpmp]

If you do get sued (and often they simply write off the debt and never sue), the legal process is lenghty and expensive to the CC company. You may be served, and you must respond in order to avoid a the summary judgment. But think of it this way: even if you never responded to the summons, or decided not to waste moey contesting a debt they can prove you owe, let the jdugment come down...the CC company then has to collect. so nothing had reaaly changed. You can like get te judgment discharged in BK. So there is no real incentive for the CC company to pursue a lawsuit, especially on relative small debts. But, I am no attorney, so that is where you should go for valid advice regarding my thoughts. Good luck

[denisejohn65]

90 days prior?? I made a small few small charges to like hsn 80.00. No one told me that.....I have file already...is this going to be a problem????

[eddiep]

No that shouldn't be a problem, worst case you would be responsible for the $80 but I seriously doubt that will be mentioned at all. I believe that they are looking for somebody who knew they were filing and went ahead and bought that plasma they always wanted knowing it would be discharged.