How Long...

[HopefulInOhio]

...do the creditors have - or I guess you have - before you see them threatening court action? I'm getting the letters a lot - no more phone calls due to me getting a new one.

In other words, how many months before you get a court notice? I have to wait to see how my divorce proceedings go first in order to decide if the bankruptcy is better during or after.....I pray to God to not get summoned until the bankruptcy is filed.

Any time period to go by?? Or to expect?

[HHM]

It sort of depends, if the creditors your speak of are credit cards, then odds are you won't see any court action for about 12 months from the date you first defaulted on credit cards. Credit Card companies are pretty slow moving when it comes to law suits. But the timing depends on all kinds of factors, some people on this forum have been sued within 6 months of defaulting, where others have gone 2+ years before being sued. However, most creditors will allow the debt to go through several stages of collections (i.e. (1) internal collections (2) 3rd party collections), and usually sell the debt instead of suing. (notable exceptions are Discover Card and MBNA). Most people get sued by collection agencies or debt buyers, not by the underwriting bank.

[toomuch]

It sort of depends, if the creditors your speak of are credit cards, then odds are you won't see any court action for about 12 months from the date you first defaulted on credit cards. Credit Card companies are pretty slow moving when it comes to law suits. But the timing depends on all kinds of factors, some people on this forum have been sued within 6 months of defaulting, where others have gone 2+ years before being sued. However, [B]most creditors will allow the debt to go through several stages of collections (i.e. (1) internal collections (2) 3rd party collections), and usually sell the debt instead of suing. (notable exceptions are Discover Card and MBNA).[/B] Most people get sued by collection agencies or debt buyers, not by the underwriting bank.

It's only been 3 months since we quit making payments and Discover is the first to send a letter, via Priority Mail, stating if they do not hear from hubby before 12/31/06, his account will be turned over to an Attorney to obtain a judgement against him. Oddly, I have an account with them also and they have not sent me a letter like that yet.

I wonder how long after they turn it over to an attorney, will the attny act upon it? Is a judgement like a freeze on a banking account? Any idea how long one has after it's turned over to an attny before any real action is taken??