when CC's call, dont say bankruptcy??

[pa308]

My atty gave me a script of what to say "I am unable to pay you at this time. Please contact my attorney". (He was worth his $ to be able to get the hounds off )

I pretty much stuck to script and if they asked whether I was filing bankruptcy just said I was looking at that option.

BOA worried me that a suit was going to come, but my atty said not to sweat and if it did we would file the day we saw the suit. Never came about though.

[Rick9972]

We told none of our creditors until after the bk petition had been filed. It's a strategic advantage nothing more.

Exactly right!!!

[HHM]

Honestly, it really doesn't matter. They hear "I am filing BK" ALL THE TIME. Telling them does not speed up any action on their part.

[Moneypenny]

thanks i think that must be the reason!

Mr. MP

[willbfree]

By giving out the info to your creditors that you plan to file bk you provide them with info to use against you. You do not want your creditors heading to court for judgments and garnishments months before you plan to file your bk. Our atty was afraid we would be sued before we got our petition filed and did not recommend telling any of the creditors that we planned to file bk.

If you plan to file very soon it probably won't hurt you to tell them. If for some reason like LuciluS you then have to delay filing it provides your creditors with time to go to court and sue you. We had equity in our home and a salary to garnish wages. We told none of our creditors until after the bk petition had been filed. It's a strategic advantage nothing more.

[griswald]

My lawyer said if I give out his name and number he will be charging me for the time he spends talking to the callers.. I will not be giving out his name or number.. I know every case and situation is different just throwing this out there..

[MrSmithster]

i was told, if you already filed, give them atty name/number. if your filed as Pro Se, just give them the case number and the court/trustee contact info. the advise i was given was if you havent filed yet, dont mention it at all. things could come up causing you to delay filing and your creditor might be able to use that info against you in the future, possibly saying you had intent to file while still using your credit line or some such thing.

[LuciluS]

Our BK Attorney told us late last Sept. after we gave him a retainer, we could answer the phone & give them his name & phone #. I never asked, at that time, if we should say we were filing BK. However, all of our credit card companies were notified at least twice we were filing bankruptcy. 1st time we told them Dec. or Jan. as that is the timeline our attorney gave us.

Found out some monthly monies I was receiving would be deemed Income. Dh and I wanted to be under or State Median Income. Due to the stock market tanking those monies ended 2/09. So we will be filing in 9/09 using Mar-Aug Gross Income.

I think all of over Credit Cards have been turned over to Collection Agencies. This is when our Attorney told us not to answer the phone & believe me I know why he said that. I answered the phone one day as it said cell phone with an area code where Dh's uncle lives & he calls him using such. Nope, wasn't Dh's uncle. It was a lady from NCO Financial. I was trying to give her our Attorney name & such. She went on a tirade for a couple of minutes. I finally had to tell her to shut up. Whew it worked. I gave her our Attorney's name & phone #, asked her to repeat it and said have a nice day and I hung up.

I think I would ask your Attorney next time you visit with him or call his Paralegal and ask her. I'm fortunate in that, I converse every two weeks via email with our Attorney. Lot easier for both of us.

BTW, we have received Form Letters from several collection agencies and one from an Attorney. Our attorney told us to ignore the letters. If we get sued, he will file something in court to delay the lawsuit until we get our chapter 7 filed in 9/09.

Luci

[Moneypenny]

Hi,

I have read the advice that once you stop paying and the CC companies call you should not tell them you are planning bankruptcy or threaten it.

Can anyone explain to me why? I am willing to do whatever, but just want to pick up as much knowledge as possible.

thanks!

Mr. Moneypenny