Ok so now we have to put off filing for 6-8 months however we are surrendering the house and 2 cars during this time along with not paying credit cards... How long before my world starts to crumble... Just stopped paying this month??? Do you think they will sue us before the time period of 6- 8 months ??? Good grief life with bk is sucky....
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Filing January 08.
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More than likely you'll not get sued for a year or more.
Creditors will hassle you with internal collections for 6 months before they sell off the debt to collection agencies. They can see your foreclodure and repos on your credit report and realize there is no gold to be mined. -
I have heard that Discover is quick to sue, usually at about the 6 month mark. Citibank is another to watch out for. Other than those 2 you should be okay for 6-8 months.
Oh- the other exception would be if you have a local creditor, sometimes they can be quick to sue.chap 7 discharge 06/07Comment
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That's usually how it should and does work, but unfortunately not always the case. We were sued by three of our eight creditors right around the six month mark and one before then. They could clearly see on our reports that noone was getting any money and what little we do own is exempt. We live in Texas one of the hardest states for a creditor to collect their money in, it's not impossible for them to get it though, they can't put a lein on your home here or garnish wages...but that doesn't stop them. It's getting brutal in the collection industry. I will say this, Citibank and Bank of America (MBNA) seem very quick to sue. Chase will go to arbitration.....get awarded that in their pitiful little arbitration courts, then sue.Originally posted by keepmine View Post"Try to save money. Someday it may be valuable again." - AnonymousComment
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Well we only have 2 major cards... MBNA and American Express Blue... But I am also surrendering my Ford and another vehicle to a local bank... Guess time will tell.. Thanks everyone... I love this place
Filing January 08.
When a mistake becomes a lesson was it really a mistake?Comment
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oooohhh... I'd watch out for both of those!chap 7 discharge 06/07Comment
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