Timing of Filing and Being Sued--FEAR

[debtmonster]

I stopped paying my CCs in May '08 (Chase is the largest owed @ over 25k alone) and still haven't been sued....knocking on wood as I write this... As everyone has stated, it all really depends on your creditor.

P.S. I'm a homeowner too.

For $25k, I'm surprised they haven't done anything.

I've never gone that high on a credit card. All of the ones I've ever not paid one were usually $1500-2000. Could that be why nobody has bothered to come after me or have lots of people with low balances owed been taken to court?

[catleg]

I suspect it is largely a cost-benefits analysis. If they can get a default judgement for less than $50 they probably feel it's worth their time. After all, I've had some of the banks send UPS overnight or 2nd day air letters just to see if they've got my address right.

[debtmonster]

I suspect it is largely a cost-benefits analysis. If they can get a default judgement for less than $50 they probably feel it's worth their time. After all, I've had some of the banks send UPS overnight or 2nd day air letters just to see if they've got my address right.

I thought that all you had to do was go fight that so they couldn't get the default judgment?

[lrprn]

I thought that all you had to do was go fight that so they couldn't get the default judgment?

If you haven't filed bankruptcy by the court date, then you absolutely should go to court. However if you do owe the debt and have no compelling reason why you haven't paid it as agreed for a long time, then you are going to get a judgment against you whether you are there or not. In some courts a compelling reason (job loss, divorce, major medical, etc) won't even matter.

This is why filing bk before the judgment happens is the best way to go.

[debtmonster]

Will I get a judgment against me for not paying my mortgage for the past 4 months? How long does it take? Do they have to sell the house first or can they get a judgment on me right now?

[eddiep]

They don't have to get a judgement against you, they will just foreclose. A mortgage is a secured debt and they will take your house. credit cards are unsecured so they have to get a judgement to garnish your wages or put a lien on your assets.

[debtmonster]

I was served last month. I wrote a letter to the court and the attorney who served me telling them that I am filing bankruptcy. The court records now show "Motion for default".

So this has nothing to do with a judgment, right?

Any ideas on what I am to expect next?

[Fresh]

Thanks.

Thanks to Everyone for replying. I do appreciate your insights and help.

My phone has been ringing, but I took the advice of someone to turn off the ringer and just look at the Caller ID. Great recommendation.

Sorry I could not check back sooner, but happy Easter to all who celebrate.

[debtmonster]

My questions were never answered.

[Fresh]

Hi Debtmonster,

Maybe you should start a new thread.

[blankslate]

I was served last month. I wrote a letter to the court and the attorney who served me telling them that I am filing bankruptcy. The court records now show "Motion for default".

So this has nothing to do with a judgment, right?

Any ideas on what I am to expect next?

They are motioning for a default judgment against you. You've admitted with the letter that you have no intention of repaying since you are filing for bankruptcy.

[sadandconfus]

chase threatened to sue me a few months earlier. I owed 12,000 and they wanted 6900 which i didnt have so then they wanted 672 a month for 6 months to get current, because all the fees put me over the limit. now i'm behind again one month but i'm going to file.

[debtmonster]

They are motioning for a default judgment against you. You've admitted with the letter that you have no intention of repaying since you are filing for bankruptcy.

So then I technically have not received my "NOD", right? Is that what all of that stuff in the court is about? The lawyer is motioning to get that done and that's when I get my letter saying notice of default?

We're packing our stuff now and getting ready to move. We went to Walmart last night and filled the SUV all up with boxes and I bought packing tape.

I wonder how long we have to actually live here after the NOD before the sheriff comes with the locks?

[blankslate]

There should be a hearing date set for the Motion For Default Judgment. Not sure how it goes with foreclosure but for evictions once the writ of possession is issued you have two weeks to vacate. I believe the NOD is served by the Sheriff and taped to your door. At two weeks they come and make sure you are gone, if you're not they order you out and bolt it up.

I'm sorry to hear you are in this process but you are taking care of things. Once you get to your new destination you will just feel relieved that it is finally behind you. I went through something kind of similar with an eminent domain case and had nightmares for many months of Sheriffs marshals showing up to kick me out of the new apartment. It will be a year at the end of this month since that happened and I'm finally starting to breathe again. Good luck with the transition and hang in there. This too shall pass.

[blankslate]

I found this:

120-360 days past due:

Once the Judgment has been entered the Mortgage Company will immediately file a request to sell the property at auction with the Court at a Sheriffs sale. This is where it gets tricky… depending on your state’s Foreclosure laws. In Texas they will sell the property the first Tuesday of the month following the Judgment being entered. In most other states, the Sale date will be approximately 30-90 days after the Judgment. This is where the home is sold to the highest bidder. Typically the home will be purchased back by the Mortgage Company during the Sheriffs sale unless there is a lot of equity in the home. In that case there may be a lot of people interested in purchasing it. Once the sale has taken place you will need to move out of the house. A Sheriff will serve you with an eviction notice. The timing of this will also depend on your State’s laws. This can be 1 day to 12 months after the sale. Some State’s offer what is called a redemption period after the sale. During this time you can purchase the property back from the highest bidder for a fee added to the purchase price.