pros/cons of speaking/negotiating/buying time with creditors if BK immenent

[ozarkmiss]

Secured or Not, looking for your experience of speaking with banks, mortgagors etc, even if you are certain you are going to file 7 or 13 within the next couple of months.

I've learned that they aren't willing to really talk unless they think they are in danger of loosing it all (for years I was sent to India to discuss b/s mortgage options and now I have an invite from the foreclosure lawyer to make an offer). Now that I've stopped paying, I am convinced I could make a call and speak to a person with some empowerment. I want to walk from the real estate regardless, yet still curious what they have to say.

I know I am about to file, but mentally have a hard time ignoring all the calls. Perhaps there is someone there who is willing to make an outstanding offer or maybe I am just tempted to do the moral thing and at least talk to someone.

But I might be hampering my BK.

What's your take?

~V

[optimistic1]

I would say that you are wasting your time and your brain space on this one. To me, if your date of pushing the big red button is within a couple months, then go have a margarita and celebrate, its not all its cracked up to be in most situations. Even if they were to entertain your curiosity, that doesn't necessarily mean that it would go through as planned.

My advice for you is to concentrate on what is next after your bk, cause your creditors will be dust in the wind after your discharge.

[optimistic1]

I would say that you are wasting your time and your brain space on this one. To me, if your date of pushing the big red button is within a couple months, then go have a margarita and celebrate, its not all its cracked up to be in most situations. Even if they were to entertain your curiosity, that doesn't necessarily mean that it would go through as planned.

My advice for you is to concentrate on what is next after your bk, cause your creditors will be dust in the wind after your discharge.

[ozarkmiss]

I would say ......go have a margarita and celebrate.....
My advice for you is to concentrate on what is next after your bk, cause your creditors will be dust in the wind after your discharge.

I <heart> optimistic1.

ok.

[HHM]

I concur, waste of time.

There is no miracle offer that any of your creditors will make that will SOLVE your financial problems. Believe it or not, they already know you are going to file bankruptcy, so any money they can squeeze out of you is icing on the cake to them, but they are not interested in "saving" you.