how long is too long to wait to file for bankruptcy

[help me 07]

it all went down in aug 2007 ...wait actually it all went down hill when i bought a brand new car..iin april..then it went down hill big time...
so all credit cards are late
bank closed my account , i think they know i might file b/c i havent been paying....since aug 2007 so 4 months
thay call me ever 1 hour or so

so yeah im trying to avoid the banks oh and i missed 2 car payments

im planning of filing in december next month

what should i do ?

[boinga]

I just filed this week. My recommendation is to check out the "stickies" at the top of the various forums here -- lots of good information and references that will answer many questions.


I also really liked the NOLO Ch 7 book. It's designed so you can file yourself (pro se). But I'd recommend it even if you're planning to use a lawyer. I used a lawyer and with the info here and in that book, I felt like I was right with her every step of the way instead of being led in the dark.

[jp2861]

To sum it up quickly. You can lally gag around for as long as you want. Some have waited years before they filed. In my opinion, if you've been sued and money is being taken out of your paycheck...you've waited too long. The best advice is to get it over with as soon as you know you have no other options. But, if you want to play the game, get prepared, wait, and file right after you get served.

[Lindsay]

I've wondered this too. We had originally planned to file in October or November. One creditor is suing us now, we were served Oct 30. I filed an answer on November 13 and haven't heard anything yet. We stopped paying most cards in July. The collectors call constantly. Now I'm thinking that I should wait until after January and get the tax refund to spend on necessary expenses first. I'm wondering how much time you have before they garnish your wages. In NY, they can only take 10% anyway. Is it dangerous to wait to file if you are already being sued?

The problem is that even though many creditors wait a while to sue, some like Chase sue relatively fast.

[newimges]

They cannot garnish your wages until they get a judgement against you and they can't do that without going through the courts.

If you answered the complaint you should be hearing from the courts about a set court date.

I waited to file bankruptcy until I got sued by one of my creditors (Citibank).

My court date was October 8th and I filed Chapter 7 on October 3rd and I didn't have to go to court at all.

[help me 07]

... i hope i dont get sued but i hear banks likes to sue after a certain
time of non payment...im hoping to file under chap 7..that will benefit me more than 13 i have so much debt..and cant keep up and i owe my gf 15,000...
but i am worried about the means test.