We're in with both feet now!

[ssmdem]

Not sure if I'm relieved or scared to death - little of both I guess. We missed our first mortgage payment in May -- and as of today, our credit cards are now late as well.

We've been getting about 5 calls a day, work and my cell, from the bank regarding the mortgage. My husband answered once and told them I had lost my job, and we working on how to handle things from here. That's all the info he gave them right now. Although I had to laugh cause the guy's response was, "Oh, I'm sorry. Would you like to give me your checking account number now though so we can process the payment?" Uh, duh - did you just hear what I said?

Anyway, I'm guessing since the credit cards are now going to be late, my phone will be ringing non-stop. I found the coolest button on my answering machine though. "Do Not Disturb" The phone doesn't ring - you don't hear the message play - and you don't hear the message being left. Total silence in my house - LOVE IT!! The phones still light up, and our TV and computer are set up so that caller ID shows up when a call comes in, so if it's someone I want to answer, I do.

We're going to call the mortgage company once we're officially two months late and inquire about a modification and just see how that turns out.

But any suggestions on what to tell the credit card companies when they start calling? We don't plan on filing until later this fall, and it will be a couple more months before we pay the attorney's retainer - so I've got a couple of months of fielding all these calls. Just wondering if I should just use the same thing we told the mortgage - lost my job, working on coming up with some money.

[kartoons19]

When I first stopped paying the CCs three months ago I did tell them that I lost my job and don't have anything to pay them. They said they were sorry to hear that, but asked when I could pay. I said I didn't know. They kept asking the same question so after the 3rd time I said I don't have my crystal ball in front of me, so I couldn't give them answer as to when I would get a job and be able to pay them. It was actually a very cordial conversation, but they did say the calls would continue until I could pay.

So I figured it was a waste of time to talk to any of the CC companies as I don't have the money to pay them and realized that bk is really my only option at this point. So I usually keep my ringer on silence and that has worked well for me. It seems like the do not disturb feature is a great to use during this time!

Good luck to you.

[Shanfish]

This is exactly where we are too... except I haven't had the nerve to answer to talk to any of the creditors yet. Our 2nd mortgage will be late for the first time ever next week and I'm nervous wondering how aggressive they will be. We're planning to retain the lawyer in the next few weeks and I hope that once I give them that info, things will calm down a little bit until we file.

[kartoons19]

Shanfish,

I don't have a mortgage, so I don't how aggressive they are, but I one CC company called me after only 5 days of being late! This is after never being late with any payment in the almost 30 years I've had credit. Ironically, it was also the CC with the lowest balance.

Since you will be retaining a lawyer within the next few weeks, hopefully you won't have to face a lot of calls. Then again the silent ringer works well.

[ssmdem]

It took my mortgage company several weeks to call - surprised me that they didn't call immediately. But when my cell phone first rang at work (that's what is listed as my work #), I didn't answer it. But when I saw the number, my heart skipped a beat. It was just knowing that "it's officially begun now."

I plan on answering maybe 1-2 calls a month from each creditor just to pacify them and hopefully keep them from bothering relatives and neighbors. We're only talking 3 accounts between my mortgage and the 2 credit cards, so hopefully it won't be totally chaotic around here. My Lowe's card is on that "no payment plan" until August, so shouldn't hear anything from them until after then.

Just had to turn the phone back on since my husband should get called into work tonight. Just hoping that the bank doesn't call bright and early in the morning. First official day of summer - I really want to sleep!!

[SMinGA]

When I was in that situation - I told the credit cards that we had fallen behind due to a drop in income. When they asked about a payment, I told them we were behind on our house, and that priority was keeping a roof over our heads & bare necessities. Most didn't question further, if they did I would politely end the call.

[Mi Bankruptcy]

Did you retain a attorney? You should ignore the creditors.They wills start calling your family and neighbors. When we stopped paying credit cards Target called my wifes mother the second month. The only thing we did was tell the creditors we were filing bankruptcy and they could discuss their concerns with our attorney. We then filed 3 months later after we paid the retainer for our attorney.

[marie]

I just said that things were difficult financially, but that I was hoping for a change of circumstances " soon " . I wasn't lying, and I got my change of circumstances when I filed.

[kartoons19]

Mi Bankruptcy,

When you told the creditors you retained an attorney did the calls stop? I just retained an attorney and am in the process of notifying the creditors.

Thanks.

[Mi Bankruptcy]

yes, they immediately stopped. They would ask me questions. My only reply was

My attorney can answer that question would you like his name and number. I used this fore every question

[kartoons19]

yes, they immediately stopped. They would ask me questions. My only reply was

My attorney can answer that question would you like his name and number. I used this fore every question

Okay that is good to know. Cap 1 called, I told them I retained an attorney and offered to give them her contact info. Cap 1 then asked when I could pay the $800 owed. She also asked for my SS# in order to add the atty's info to the record. I just said she needs to contact my atty. I didn't give her any other information. Another CC said the calls would continue until I filed. Chase has stopped calling, so hopefully the others will too.

[ssmdem]

Did you retain a attorney? You should ignore the creditors.They wills start calling your family and neighbors. When we stopped paying credit cards Target called my wifes mother the second month. The only thing we did was tell the creditors we were filing bankruptcy and they could discuss their concerns with our attorney. We then filed 3 months later after we paid the retainer for our attorney.

We haven't retained one yet - plan to in a couple of months - still have one more attorny we want to interview before deciding. And yes, once we've done so, you better believe I'll be passing her number onto them. We've instructed our parents to just ignore the phone calls. Both sets already don't answer their home phones as it is - so this won't be an issue.

[ssmdem]

Okay that is good to know. Cap 1 called, I told them I retained an attorney and offered to give them her contact info. Cap 1 then asked when I could pay the $800 owed. She also asked for my SS# in order to add the atty's info to the record. I just said she needs to contact my atty. I didn't give her any other information. Another CC said the calls would continue until I filed. Chase has stopped calling, so hopefully the others will too.

Chase is one of mine --- Citibank is the other. Hoping they both stop when we give the attorney's information. We won't actually file until October or November - so still have a few more months to go.

[kartoons19]

Chase is one of mine --- Citibank is the other. Hoping they both stop when we give the attorney's information. We won't actually file until October or November - so still have a few more months to go.

I stopped paying Citibank 3 months ago and have not had one call from them. Hopefully that will be your experience too. My phone is been nice and quiet today!

The only concern I have with telling the creditors about retaining an attorney is they may try to sell off the debt to a CA. My understanding is that CA are more ruthless than the CC companies. Unfortunately, I won't be able to file for a month. I could be wrong about this and maybe I am worrying for nothing.

[ssmdem]

I stopped paying Citibank 3 months ago and have not had one call from them. Hopefully that will be your experience too. My phone is been nice and quiet today!

The only concern I have with telling the creditors about retaining an attorney is they may try to sell off the debt to a CA. My understanding is that CA are more ruthless than the CC companies. Unfortunately, I won't be able to file for a month. I could be wrong about this and maybe I am worrying for nothing.

My phone has been quiet today too. Usually I get about 5 phone calls a day from the mortgage company - but none so far today -- guess maybe they all took a day off. I'm a little reluctant to tell them about an attorney as well. If they really aren't bothering me that much, I may just not answer them and use the "trying to work out things - will pay when I can" line when I do answer.

I definitely want to have retained an attorney before the CAs start though. I'm not listening to those people!!