Waiting to file 9 months from now, what about collectors.

[optimistic1]

Ok, so I am feeling very optimistic, hence the name, about filing my Chapter 13 case. I have received lots of information from everyone and I thank all of you for helping me.

I could develop a plan now for a 60 month, or I could wait until my first child is born in August trusting everything goes well, and then I could file a 36 month, because I would then be under the State Median Income.

My biggest fear, is, what will CC companies and the dreaded collectors do in the meantime? My wife has stopped paying on her cards since Oct.-Nov., and all of mine are current.

Would it be worth the risk of waiting to file to shave off 2 years worth of payments? It seems likely, but I dont want to deal with them.

If I retain an attorney, I can direct them to call my attorney, but, will this stop them?

[MJJ3767]

In my situation, I was forced to file VERY quickly. It was not something I had planned for or even given any thought to doing. I sure wish I could have planned for this. I would have stopped paying my credit cards immediately. I did the opposite, my payments were all current and I even made payments up until the day before I actually filed. When you are served with a summons that you are being sued, you have 20 days to figure out what to do. ( a car loan from 3 years ago)

I think in your situation I might wait it out and see what the creditors do. You stand the chance of being sued as I was. At that point, I didn't want a judgement or risk wage garnishment so I filed Chapter 13. You can direct them to call your attorney but that won't stop any collection process until you actually file.

From what I have been reading, creditors appear to be getting very aggressive and not waiting as long as they use to wait until they sue you.

[NowImDownInIt]

What state do you live in? Certain states are more debter friendly than others (Texas for example)... It will be a while before you are sued and if it were me, I would stop paying as soon as I knew that I was going to be filing... For you that is now... you will need to be prepared to have a lot of collection calls coming in. That's just me though... as I am judgement proof and live in Texas where even if I wasn't wage garnishment is illegal other than for tax recovery.

[optimistic1]

I live in AZ, community property state, so Im not sure how thats adds into the mix, they can garnish up to a maximum of 25% of disposable income. How they define that income, is anyones guess. So, I need to go to some more lawyers before I stop paying on my credit cards, my wife stopped in October-Novemeber. Im just wondering how long it might be before they start accelerating things. We had hired a attorney, but he got so sick of me asking them questions, they dropped us and gave us a full refund.

[NowImDownInIt]

Wow... you wouldn't want that attorney in the long run anyhow. What a jerk.

[optimistic1]

Wow... you wouldn't want that attorney in the long run anyhow. What a jerk.

Your'e telling me, he kept going on and on about community debt, and how the creditors couldnt come after me, but, when I asked him to put it in writing, he refused, and he also refused to represent me if indeed they tried to come after me.

So he had me nervous from the get-go.

I found instances within the bankruptcy code, that in fact they could actually sue me, because If I filed a Ch.7 on the same day that my wife would be filing singly without me, and for some reason I couldnt qualify, then I couldnt get a "community discharge".

He just kept telling me I was wrong. It would take them 3-4 days to return my phone calls, and they never answered, always voicemails when I called.

They used to do nothing but accident/injury cases, but when the market is right, they all of the sudden start accepting BK cases.

Im glad they droppped me.

[NowImDownInIt]

Yes, good riddance... Is most of your debt unsecured? And at what average amounts? A lot of creditors won't sue unless it's a really large account.

[optimistic1]

All unsecured

The largest is a bank called ELAN financial around $7500

After that is a Bank of America Credit Card around $6000

I already notified them of the Bankruptcy, the old attorney told us to tell them, and to give them their phone number.

[NowImDownInIt]

They'll both most likely send you to a CA before actually suing you.. BOA is pretty quick about selling you off at the mere mention of BK... I haven't heard of the other one.

[MJJ3767]

I too am in Arizona. I will send you a private message with my attorneys name.

[liz417]

Hi,
I'm in CA and stopped paying the cc's in mid May. I retained an attorney was able to direct all calls to his office. I haven't heard a peep...
The only downside is that my attorney wants the fees in full before he starts my case (as opposed to "rolling" it into the plan), I found this site AFTER I retained my attorney. Oh well, at least he answers all my questions when I call.
Good Luck!
P.S.
I had the big credit card companies: 2 BofA, Chase, Amex, 1st National, Discover w/ over $72k