We recieved a letter stating that HSBC has transferred our debt to an atty. We are told, via the letter, to call and speak to them about it or face legal action. Should we call them and tell them that we have retained an atty and are seeking BK? Will that cause them to start legal action quicker? Any advice would be greatly appreciated.
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to be a bit more clear....
We retained an atty in April. At that point it was determined that we would not qualify for CH 7, so a CH 13 with pretty high payments was they way to go. We are holding off on filing until we have to...............thus will this atty letter force our hand? I put a call into our atty, but at $250/hr I'd like to keep our contact min for a while. -
It is merely a strongly worded letter trying to motivate contact. At some point, if you go long enough not paying a credit card, one will pop up and sue you, but this letter is neutral, it does not mean legal action is around the corner but at the same time, legal action is possible.Last edited by HHM; 10-05-2009, 05:52 AM.Comment
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Everything varies but this sounds like a standard collection letter. Are you charged off already? AMEX did the same to me upon charge off and they never did anything but call.Originally posted by momxx5 View Post
Just call and tell them you have retained an attorney for " advice ", nothing more. If they ask you about BK tell them you have not decided just yet, period.
Telling them you have retained an attorney will not speed anything up and when you retain an attorney they are supposed to stop contacting you as soon as they know.
Besides, even if you do get a lawsuit you include it in the BK. Worst thing that can happen is that you negotiate the debt down comparing the amount plus your 1099 liability with your Ch 13 payments. It's a calculating thing.
I know you are trying to minimize contact at $250 per hour so don't call your attorney, just let the collector know.Very fortunate in the grand scheme of things but have learned my lesson.
Filed 12/15/08, 341 1/12/09, Cont to 2/12/09, cont to 3/12/09, cont to 4/15/09, cont to 5/11/09, cont to 6/02/09. Discharged 9/16/09, Closed 10/23/09Comment
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Did they tell you that you would face legal action, or that you could face legal action. Big difference in wording.Originally posted by momxx5 View Post
Typically, a collection letter will use words like would, could, should, might, may, possibly, etc.
As long as your are getting those words, it's nothing more than an attempt to collect.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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Thanks for the responses. I'll check the letter when I get home for the actual wording.Comment
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