Just curious how long it takes on average from the time you stop paying your credit cards until the card companies can garnish your wages?? I'm nowhere near this point (hopefully) but I'm just curious. Can someone give me a step by step process. For example - stop paying cards, collection calls and letters, lawsuit, judgements, liens, garnishment - is that how it goes???
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11/14/07 -filed C7
12/04/07 -case pulled for random audit.
12/18/07 -341 held: Asset case due to engagement ring & tax return.
02/19/08 - US trustee files motion to extend.
04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!! -
It really just varies by card and what they think they can get out of you. For instance if you have a high income, own your house or some other asset they can put a lien on they are liable to sue you quicker than if you have no asset(rent your home) and a lower paying job.
In general it seems citi and discover seem the quickest to sue. I have heard of discover sueing at 5 months late. I think in general they (Discover) sue at 6 months late. So really anywhere from 6 months to 2 years. At 6 months cc will usually charge off your debt. I did'nt pay my cc for for 6 months and was never sued.
They will have to sue you and win before they can place a lien or garnishment, but once they win I think the process is fairly quick to get a garnishment or lien.
Also watch out for local creditors they can sue much quicker then others.chap 7 discharge 06/07
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