How long does it take CC companies to sue?

[OnTheRocks]

My CU probably different than yours, but a few months ago I missed 1 payment (honest mistake) and before the 2nd was due they were talking about doing a judgment. They wanted me to convert my CC debt into some other type of loan. I'm at about that point again, just need to stall them this time, cause ain't no more dough flowing. I should mention it is my previous employer who fired me too..

[ace13]

Thanks all...

As some of you may have read in other posts of mine I am really concerned about the CU more than any other creditor. The 9k for the furnace with only 2 payments made concerns me but I guess we all have to pay for our mistakes in life.

Again thanks for the advice

[ForumReader]

Thanks for both of your input!

To ForumReader, I did have a savings account with my CU where the loans are but the balancebis 5.09. They can have it. I used that savings for my daughters child support from her father but a few months ago stopped DD into it so I could track all my monies in one account - it just made it easier to work on my budget. Needless to say didn't help much cuz here I am soon to be filing BK

do you think I should talk to any creditors and advise I'm soon filing or just continue ignoring? Thanks

I would suggest not telling the creditors you are filing for BK soon for they might speed up the lawsuit process (I could be wrong there). Let their calls come to your answering machine and file as soon as you are ready.

[ace13]

Thanks for both of your input!

To ForumReader, I did have a savings account with my CU where the loans are but the balancebis 5.09. They can have it. I used that savings for my daughters child support from her father but a few months ago stopped DD into it so I could track all my monies in one account - it just made it easier to work on my budget. Needless to say didn't help much cuz here I am soon to be filing BK

do you think I should talk to any creditors and advise I'm soon filing or just continue ignoring? Thanks

[ForumReader]

Beginning September I stopped paying all of my unsecured creditors - mostly cc - along with my 2 loans with my CU so I could save money to retain my attorney.

I was wondering if anyone knows what the average time is until the CC and CU will begin a lawsuit? Right now it's just the voluminous phone calls -none of which I have answered. I have also received one letter saying my account may soon be restricted.

Is there some guideline of time on lawsuits or does it just depend on when they feel it's time to sue? Any info from anyone who has been sued is appreciated.

Also do you think I should answer any calls and tell them I'm filing for chapter 7 or just continue to ignore?

It varies with the creditors, typically after 120 months of non payments (they would become charge offs), letters start to go out with a minimum of 6 months from the last payment, lawsuits processes begin. Like I said it varies and depends on the creditors. Now you mentioned you have loans with the CU? Do you have a banking account with the CU? If so, I would strongly suggest switching to new banks asap to avoid offsetting your monies to your loans associated with the CU.

Maybe other more experienced posters will chime in with more tips/suggestions/info.

Good luck

[berrymom35]

I don't know if there is anything official, but we got served by one card 18 months after we stopped payment. Out of about 14 accounts that was the only one...then we filed about 3 days later and they dropped it. If you just stopped paying you've got a long time before you have to worry about it and if you go ahead and retain an attorney your golden for a long time.

[ace13]

Beginning September I stopped paying all of my unsecured creditors - mostly cc - along with my 2 loans with my CU so I could save money to retain my attorney.

I was wondering if anyone knows what the average time is until the CC and CU will begin a lawsuit? Right now it's just the voluminous phone calls -none of which I have answered. I have also received one letter saying my account may soon be restricted.

Is there some guideline of time on lawsuits or does it just depend on when they feel it's time to sue? Any info from anyone who has been sued is appreciated.

Also do you think I should answer any calls and tell them I'm filing for chapter 7 or just continue to ignore?