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Just served by Capital One - Questions about everything

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  • Just served by Capital One - Questions about everything

    Hello,

    I was just served by Capital One at 6:30 on a Friday night. I've known for a while that I was going to have to file for a Chapter 7, but it couldn't have come at a worst time... as my income is at an all time low during the summer. Without paying the credit cards and anything unsecured, I'm just barely making the house payment and utilities, etc. My car was repossessed a year ago, and I haven't had any extra to even buy another one.

    I know I'm going to have to get an attorney. In my area, the cheapest one is $1,000 not including the filing fees. I would try to do it myself, but I know I don't have the knowledge on how to do so. But saving up this money for the attorney will mean I can no longer pay my house payment.... and I'll end up having to give up the house. I'm worried about doing that as I have two dogs I can't bear to part with, and I'm worried about how I'll find a cheaper place to rent that allows pets.... and too, I'm going to have to get a vehicle as well.

    Even without paying the mortgage, it's going to take me about five weeks to save up enough to retain an attorney. The notice I was served with says I have 20 days to respond. I don't know what to do about this notice or how to respond. Has anyone had any experience with this? I'm hoping that I can delay it enough to at least save up for an attorney and get one. I'm just so scared about all of this.

    With the mortgage, any idea about how long I'll have before I have to leave my house?

    Thanks for your help.

  • #2
    I meant to add that I'm afraid to not do anything at all about the summons, as if they hit my checking account with a judgement I won't even have enough to keep paying my basic stuff.

    Comment


    • #3
      Okay, first of all -- people stay in their house without paying for a long time. You are not going to get kicked out of your house for missing a payment or two. Seriously.

      Second, consultations are FREE. You start calling, emailing, and going to appointments with at least a few. They will make you feel better about your situation -- I promise. You pick one you feel comfortable with, and you pay them a retainer (maybe as low as $100 just to show them you're serious). Once you have retained an attorney, you give their name and number to your creditors and let them deal with them. You consult with your attorney on whatever questions you have, and they will help you figure things out.

      And you make payments when you can, until you can pay the entire fee to the attorney, and then you get your case filed -- and it will all turn out okay.

      People come to attorneys every day without having thousands of dollars in their pocket. I mean, think about it. They have to be flexible with payment arrangements because they are constantly dealing with people at the very end of their rapidly-fraying financial rope.

      Comment


      • #4
        Not all attorneys will take creditor calls on just a $100 retainer. Some will want the full fee before they start doing any work. Something to ask during your free consultation.

        I know you're hesitant to go it alone, but is there anything particularly unusual about your case? If it's pretty straightforward, you can find nearly all the information you need to file on your own using a combination of the Nolo Chapter 7 book and the Pro Se forum here. In my case I was worried about certain creditors objecting so I went with an attorney, but it turned out they never bothered to object anyway.

        Even with the 20 day notice on the court case, it would take a little longer than that for garnishment/bank seizure to occur. If you don't respond or show up in court they'll get a default judgement, but then they have to file a separate proceeding to actually go after your money. That takes a little time. Not much, but a little.

        All that being said, if you still feel like you need to file right this second, as Chrysalis said, one or two missed house payments isn't going to lose you your house right away. Even if they DID start foreclosure procedures that early, the BK filing would halt those proceedings and you'd have an opportunity to catch up and work something out.
        This post does not constitute legal advice. If you use this advice instead of that of a lawyer, God help you.
        Filed CH 7: 5/11/17 341: 6/12/17 Discharge: 8/14/17

        Comment


        • #5
          Originally posted by bankrupt3000 View Post

          With the mortgage, any idea about how long I'll have before I have to leave my house?
          Just as an example... I have not paid the mortgage since January and the house is still in my name. I plan on letting the house go anyway as it's the main reason I filed.

          I filed for Ch 7 in March, received my discharge in early July... and the mortgage servicers still have not initiated any formal foreclosure processes or eviction notices on the house. All I've received is a few letters before filing and after discharge (they are not allowed to proceed on foreclosure or try to collect a debt while Chapter 7 is in progress) and a few phone calls. I am sure everyone's situation is different, but maybe this will put your mind at ease that I've gone over 6 months now without paying and there is still no notice from the servicers about leaving the house.

          Comment


          • #6
            Thank you so much for all your helpful replies. Here in my area, there are only a few attorneys that will do bankruptcies and all of them require the fee and court filing fee upfront before they will do anything.

            I did find out that since I'm self employed apparently once the cc company has a judgement they can wipe out 100% of my bank account instead of 25%... if they do that every time a deposit hits, that will leave me in a very bad shape.

            So time is running out for me and unfortunately I don't see how I can come up with over $1,000+ in the next two to three weeks. I'm not sure if I have any options to delay the summons from turning into a default judgement.

            With my mortgage, I was told by them that the only way they will accept any payment toward my late balance is if I pay it all in full.... including a month in advance. So if I'm late two months, the only way they would accept payment is if I send in 3 payments at one time.

            Comment


            • #7
              Originally posted by teekay View Post

              Just as an example... I have not paid the mortgage since January and the house is still in my name. I plan on letting the house go anyway as it's the main reason I filed.

              I filed for Ch 7 in March, received my discharge in early July... and the mortgage servicers still have not initiated any formal foreclosure processes or eviction notices on the house. All I've received is a few letters before filing and after discharge (they are not allowed to proceed on foreclosure or try to collect a debt while Chapter 7 is in progress) and a few phone calls. I am sure everyone's situation is different, but maybe this will put your mind at ease that I've gone over 6 months now without paying and there is still no notice from the servicers about leaving the house.
              When you filed your paperwork, did you select the option to surrender or did you select the other option (not the reaffirmation one). The reason why I ask is when I had a consultation, the attorney basically said I had to be current on the payment at the time I filed in order to stay or I would have to surrender the house. He told me that if I surrendered, he could only get me three or four months to stay in the house before I left. But I've heard of some people that somehow go through of a Chapter 7 and instead have 6+ months to stay there.... so I was curious as to which option you selected on your paperwork in order to go the route you have.

              Thanks for your help.

              Comment


              • #8
                Originally posted by bankrupt3000 View Post

                When you filed your paperwork, did you select the option to surrender or did you select the other option (not the reaffirmation one). The reason why I ask is when I had a consultation, the attorney basically said I had to be current on the payment at the time I filed in order to stay or I would have to surrender the house. He told me that if I surrendered, he could only get me three or four months to stay in the house before I left. But I've heard of some people that somehow go through of a Chapter 7 and instead have 6+ months to stay there.... so I was curious as to which option you selected on your paperwork in order to go the route you have.

                Thanks for your help.
                I selected the option to surrender. If there was more than one other option, I don't remember it as my mind was already made up about giving up the house. The 6+ months I guess depends on how many payments you missed before filing (I had missed two--Feb and March) and then how long it takes to receive the discharge once everything is over.

                The mortgage servicer has sent me a couple letters since discharge offering help for refinancing and other options to keep the house. Most banks do not want to be homeowners--they don't want to be responsible for maintenance and upkeep--so they don't typically race to kick residents out of the house until all other options have been offered and explored. So even after the Chapter 7 process, there might still be options available for you to keep the house.

                Comment


                • #9
                  Hey, just to follow up... Today was the first day I got any kind of letter that mentioned the F word (foreclosure), that they may send out an inspector to verify occupancy/condition of property, etc. So again, it's been 6 months since I missed that first payment, and this letter is the first word about any sort of formal action to move towards foreclosure.

                  Comment


                  • #10
                    Does this mean they will come out and come in your home to inspect?

                    Comment


                    • #11
                      Originally posted by bankrupt3000 View Post
                      Does this mean they will come out and come in your home to inspect?
                      That is common. Lenders send out an inspector to find out if the home is occupied. If it has been abandoned, they secure the home to protect their collateral.
                      LadyInTheRed is in the black!
                      Filed Chap 13 April 2010. Discharged May 2015.
                      $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

                      Comment


                      • #12
                        Update
                        As of tomorrow, I'll be two months late on my house payment. I called the lender to ask some questions about the house and foreclosure process. I basically got nowhere.

                        I was pretty much told that my only option was to agree to go through the process of listing it with a real estate agent. That's the only way they will give me cash for keys or even give me any information. They won't talk about or explain foreclosure... They will only answer questions about the process if I agree to list the house with a real estate agent, etc... To be honest, this isn't something I want to do. I don't want to go through the hassle of all of that.

                        She did say that if I don't try to sell it with an agent, that they would serve me by sheriff in four months, even though the Chapter 7 process could be going on at that time. According to her, I would have to get out of the house when I'm served.

                        I asked if they had a foreclosure department that I could speak to for information, and she said they did but refused to give me the contact information. She said they would only talk to me once foreclosure is in effect.

                        At this point, should I stop talking to them? When I receive a summons from the sheriff, do I need to respond to this in any way or make any court appearances in regards to the mortgage itself? So long as I check surrender the house on my BK paperwork, I won't be responsible for any balance right? I am filing pro se. Any other information that you guys could think of that might help explain this to me or that I should know?

                        Thanks for your help.

                        Comment


                        • #13
                          Originally posted by bankrupt3000 View Post
                          Update

                          She did say that if I don't try to sell it with an agent, that they would serve me by sheriff in four months, even though the Chapter 7 process could be going on at that time. According to her, I would have to get out of the house when I'm served.

                          Uhhhhh, no. Once you file, any and all collection activity, including foreclosure/eviction must cease. They will not be able to have the sheriff remove you while the case is ongoing.
                          This post does not constitute legal advice. If you use this advice instead of that of a lawyer, God help you.
                          Filed CH 7: 5/11/17 341: 6/12/17 Discharge: 8/14/17

                          Comment


                          • #14
                            Originally posted by bankrupt3000 View Post
                            She did say that if I don't try to sell it with an agent, that they would serve me by sheriff in four months, even though the Chapter 7 process could be going on at that time. According to her, I would have to get out of the house when I'm served.

                            I asked if they had a foreclosure department that I could speak to for information, and she said they did but refused to give me the contact information. She said they would only talk to me once foreclosure is in effect.
                            Unfortunately she is misinformed. Without relief from the automatic stay (RFS) the bank can not proceed start a foreclosure or even continue the foreclosure process. It would be an actual violation of the Stay and they would be subject to sanctions and the entire foreclosure case tossed.

                            I would stop talking to the bank. The bank is not your friend.
                            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                            Status: (Auto) Discharged and Closed! 5/10
                            Visit My BKForum Blog: justbroke's Blog


                            I am not an attorney. Any advice provided is not legal advice.

                            Comment


                            • #15
                              In regards to the summons I was served with... After I filed, I did contact this attorney's office with the case number. It never made it to the default judgement stage. The twenty days passed and I filed and the court said there hasn't been anything else sent in past that. But the attorney's office hasn't taken any action through the court to cancel it either. Shouldn't something be done to close it out?

                              Comment

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