How soon do you file?

[bridie43]

Hi I'm new here and have a question. I started getting into financial trouble in Oct '08 when my ex stopped paying child support. My first problem was my home because I was going to be facing foreclosure in a few months. I attempted and succeeded in getting the bank to renegotiate but I was not allowed to file bankruptcy until I signed the contract which was just a few weeks ago.

Since then my credit has gotten worse and worse due to nonpayment. Well so now I have the house all secure, and filed the homestead papers while I was waiting, but I don't have the $2,600 to pay a bankruptcy attorney.

I'm a CPA and file my own taxes but to be honest it really scares the heck out of me to think of filing on my own. I have too much to lose if this doesn't get approved.

So my question after all that is, how long do I have to save up before something bad happens. And really what exactly will happen to me if it takes me say 6 months to save the money? As it is now I'm not even dealing with the original credit card companies since they've almost all wrote me off. Will the calls just increase (as if that's possible!!!) or will the actually summons me to court and take my assets?

I'd appreciate any advice you all could give me. Thanks!

[keepmine]

Nobody can say with any degree of assurance when you'll get sued or even if you get sued.
Me, I was in default for over 6 months before I filed and was never sued.
This is something you have no control over. Just focus on what you can control and that is getting the funds together for legal fees.

[AngelinaCatHub]

Hi I'm new here and have a question. I started getting into financial trouble in Oct '08 when my ex stopped paying child support. My first problem was my home because I was going to be facing foreclosure in a few months. I attempted and succeeded in getting the bank to renegotiate but I was not allowed to file bankruptcy until I signed the contract which was just a few weeks ago.

Since then my credit has gotten worse and worse due to nonpayment. Well so now I have the house all secure, and filed the homestead papers while I was waiting, but I don't have the $2,600 to pay a bankruptcy attorney. Wow that is a lot of money. Our C7 was $1500. I would have gone pro se knowing what I know now. You can do it. Get the C7 book from Nolo.com.

I'm a CPA and file my own taxes but to be honest it really scares the heck out of me to think of filing on my own. I have too much to lose if this doesn't get approved. Going pro se would be a 'piece of cake' for you then. It is the forms that throw most. You are used to forms.

So my question after all that is, how long do I have to save up before something bad happens. And really what exactly will happen to me if it takes me say 6 months to save the money? As it is now I'm not even dealing with the original credit card companies since they've almost all wrote me off. Will the calls just increase (as if that's possible!!!) or will the actually summons me to court and take my assets? I doubt within six months you would have to answer a summons. If you get one, by all means answer it. You can delay and ask them for proof and hold them off. Or be prepared to file in a first notice, hold off until you have to and then run down to the Court House and file when you HAVE to. That stops all that legal stuff. Filing fees I believe are about $255 or so. Also, they cannot take assets without a Judgment. Don't let them get one. Then they have to attempt to collect on a Judgment. It is difficult to do and costs them security and bond money.

I'd appreciate any advice you all could give me. Thanks!

You got it. 'Hub

Edit: I assumed you are going C7. True?

[Trixie007]

We were in default for a year with no lawsuits filed - 10 cc's.

[bridie43]

You got it. 'Hub

Edit: I assumed you are going C7. True?

Yes definitely chapter 7. I want everything completely cleared.

[bridie43]

Well I guess I"d best file pronto since I just received a call from Chase stating that they are going to sue me for "malliciously used account". No clue why they'd think that since I haven't used the account in over a year and was making payments while I was using it.

So, I plan on getting the nolo book and the book for dummies, read this forum and use the Massachusetts site to the best of my ability and hope for the best. My worst fear is losing my home. I wasn't able to file while I was renegotiating my mortgage and I'd hate to have gone through all those months of stress and paperwork only to find out they'll take my house when I file bankruptcy.

*deep healing breaths*

I'm very grateful for this site.

[OhioFiler]

Well I guess I"d best file pronto since I just received a call from Chase stating that they are going to sue me for "malliciously used account". No clue why they'd think that since I haven't used the account in over a year and was making payments while I was using it.

So, I plan on getting the nolo book and the book for dummies, read this forum and use the Massachusetts site to the best of my ability and hope for the best. My worst fear is losing my home. I wasn't able to file while I was renegotiating my mortgage and I'd hate to have gone through all those months of stress and paperwork only to find out they'll take my house when I file bankruptcy.

*deep healing breaths*

I'm very grateful for this site.

Was it a rep from Chase or a collection agency? I can assure you either way their blowing smoke.

[bk2009]

Yep, they're likely just blowing smoke, unless they're actually a lawyers office calling. BofA (a local CA it seems has the account) has been hassling my DH (b/c it's his cell number they have) several times per week. Some reps are nice enough. Some, despite being told that there is no money left over for them after unemployment pays the first/second/utilities get nasty and start on the "so, you're refusing to pay then? I'll have to send this back to BofA and tell them that you are refusing to pay and that they should proceed with further collections". They've been saying this for six months now, they'll just be in line if they go to court anyways.

[bridie43]

Was it a rep from Chase or a collection agency? I can assure you either way their blowing smoke.

Either a collection agency or a lawyer. The bulk of the conversation was my telling the guy not to call me at work anymore. He kept going on about incorporating my business and taking over all assets. Well I don't have a business and I doubt they'll be able to take over all of the assets of the company I work for so I asked him to explain and the more he talked the less he made sense.

The ONLY thing I understood was that this is my one and only chance to try to work out a deal and that he wouldn't call me at home and if I didn't get into it during THAT particular phonecall he would let the company (Chase) know and they would proceed with the lawsuit.

I just want to get this over with so I don't have to deal with the phonecalls. They're driving me bonkers!!!!! Capitol One actually told me last month that if I worked out a deal with a company to manage my credit they'd put any offers in the shredder. How productive is that?? Some of the women that call actually shout into the phone!! I normally keep the answering machine's volume on mute but one time I forgot to reset it to mute and this woman called and shouted my name and I swear to God I had a flashback of my mom yelling at me for doing something bad!