Certified letter

[Flgranny]

I got a certified letter from Wells Fargo today notifying me my payment for a small credit card,359 dollars was late and to contact them. Only creditor I’ve heard from other than phone calls. Is this standard practice

[justbroke]

Have you filed? Various creditors have varying manners for notice before a lawsuit. I believe that American Express also likes to send certified letters, as does the IRS.

[Flgranny]

Not yet. Working with a lawyer.

[Flgranny]

She’s not concerned

[justbroke]

If you're filing soon, there is no concern.

[Flgranny]

Filing in August

[BxRcvor]

Take Care that you aren't "served" before then. Some of these creditors can get very aggressive, especially if you owe them a lot. American Express is one of the very agressive ones, as I found out (the hard way). I filed ASAP after I got served which killed the lawsuit, but it's still on court records that a lawsuit was filed.

[Flgranny]

Thx Amex hasn’t even dinged me 30 days yet but it’s one of my biggest

[Flgranny]

How long did it take for them to sue you

[Flgranny]

Also I’m judgement proof. No home. Social security and pension

[BxRcvor]

How long did it take for them to sue you

I honestly don't remember, but I'd guess less than one year after defaulting on the payments. It was a lot of money so it was in their interests to sue. Then again, I owed about the same amount to Chase Manhattan and they did not sue.

[BxRcvor]

Also I’m judgement proof. No home. Social security and pension

I was not, sadly. But there were a number of different "exemptions" My primary home (the only one I have) was exempt, per FL law. Also, the 1st $1000 of the value of my car was also exempt. All other personal property was subject to certain "percentages" that were not exempt.

All things considered, I was lucky. I lost my car and some cash (the trustee wanted an "all cash" settlement, save for the car), but I kept most everything else. I'm thinking the trustee didn't want the bother of trying to auction off my personal items except for the car (a lot easier to auction). Hence, the "all cash" settlement would require me to sell/auction anything as required. Thankfully, I didn't need to sell much. And the car was 12 years old anyway... still in decent condition for a 12 yr old car, but... I surrendered the $1000 car exemption as part of the deal.

[Flgranny]

Thx for responding. Tx exemptions are decent. Can’t wait for it To be over

[MooMoo68]

I was not, sadly. But there were a number of different "exemptions" My primary home (the only one I have) was exempt, per FL law. Also, the 1st $1000 of the value of my car was also exempt. All other personal property was subject to certain "percentages" that were not exempt.

All things considered, I was lucky. I lost my car and some cash (the trustee wanted an "all cash" settlement, save for the car), but I kept most everything else. I'm thinking the trustee didn't want the bother of trying to auction off my personal items except for the car (a lot easier to auction). Hence, the "all cash" settlement would require me to sell/auction anything as required. Thankfully, I didn't need to sell much. And the car was 12 years old anyway... still in decent condition for a 12 yr old car, but... I surrendered the $1000 car exemption as part of the deal.