just curious

[areck]

I see a lot of posts from folks who are "filing in 3 months", or six months or whatever the case is.

Just kind of wondering, how all that works.

What's the reason? Beyond the obvious of course, which is to "quit" paying the creditors and utilize that money as a set-aside to retain the attorney.

Which is precisely what I would have to do, and that begs the next question.

I have so many payment arrangements with so many *unsecured* creditors, so many, like about 15. I have several also that I've yet to make any arrangements with, and they are hounding me un-ending.

I see why some folks are able to just stop paying. Maybe they didn't wait as long as I did, or in as deep as myself (quit paying so long ago, that the OC's don't even call me anymore, it's CA after CA after CA now).

But what of my situation. I had one creditor so far that actually summoned me. Process server showed up at the door. The only reason that didn't proceed to a court hearing, was my agreement to pay them $184/monthly. That's just one of many. Though it's the only one that took things that far, at least so far.

So, if I just stop paying, so that I can reserve monies to pay the atty, and get that ball rolling. Won't that one creditor that already has me in the court system, at least, won't they have a leg up to go ahead and file whatever motion they were going to anyway, to drag me into court?

And they would win. I owe the debt, I don't dispute that. Dispute the amount, with all the penalties and late fees and ridiculous stuff they've added on. Ahh, but my fault for having signed the cc agreement. My fault, I'd loose.

So won't they have that judgement, and wage-garnishment order in no-time flat, before I can even get up the monies to retain my atty and get that ball rolling?

[NoMoreCards]

When they file suit, you are given 20 days to respond. So you wait till about day 18 and respond. This then gives them another 20 days to respond, and so on... In case you haven't, you can make them validate the debt, and so on. There is a forum here that is specifically for collections. I suggest going there with a fresh pot of coffee and have a grand time reading and learning.

All you are needing to do is buy some time. Remember, they can't garnish anything without a court order and any court process has a series of hoops that must be jumped through prior to standing in front of the judge.

[klandsb]

From reading different post I gather alot of people wait to file for various reason.
One being if you get paid bi-weekly u will get 26 paychecks a year meaning in some months you will get 3 paychecks. So in order to make your income normal you would have to file with the 6 mths included that only have 2 paychecks. Hope that makes sense.
Also, some people get bonuses or work OT so you would wait till they fall off of your income. Meaning you would have to wait out the 6 mths after the mth you got a bonus.

You quit paying creditors then wait the 90 days before filing for obvious reasons.

A family member gives you money that you deposit in your checking account or you get very lucky and hit the lottery for a couple grand and deposit it not knowing down the road you are going to file bk... You will have to wait it out so those things dont show up..

Thats to name a few ... There are plenty others ..

[AngelinaCatHub]

On the one CC who took you to Court, did you sign any documents that abated a Judgment? Not good if you did, but if not, file soon and that would stop action upon that card. A Judgment could be discharged in a bk but takes extra effort. If you signed anything that was like a reaffirmation, you are stuck on that one. You still can bk on the others. 'Hub

[areck]

On the one CC who took you to Court, did you sign any documents that abated a Judgment? Not good if you did, but if not, file soon and that would stop action upon that card. A Judgment could be discharged in a bk but takes extra effort. If you signed anything that was like a reaffirmation, you are stuck on that one. You still can bk on the others. 'Hub

I was summoned by process server on Labor Day. Tricky huh? They know they're likely to find one home on that day, and they did.

That was about the time I visited with a BK atty. The only one I've consulted so far. He told me to answer it, on day 18 or even 19, file it with the courts, and answer "denial", to every count they listed. Just simply the word "denial". That's what I did.

In the meantime, because that scared the bejeebers out of me, I'd been in touch, via phone with their oh so nice foreigner, at the law office. He offered me a one-time settlement of $3800. Nope, nothin doin. Don't have it. The only other alternative was the $184/monthly. Which I did agree to, all the while not knowing what to do, so I sent the summons back, filed thru the courts, filled out as instructed.

The nice foreigner explained to me that in order to enter into the agreement on payment terms, I would have to sign what is essentially (in a bunch of legal mumbo-jumbo) an agreement that states that if I don't live up to the terms that they don't have to do anything further to contact me, other than go straight to the courts. I agreed to sign it.

He sent it to me to do so. It still sits here. Unsigned. I haven't returned it, have had no further communication with them, never signed it. I have sent them their $184/monthly. But that's it. So no, I haven't "signed" anything.