Notifing creditors

[annikasaunt]

Is it better to notify your creditors that you are filing BK before they call you or should you just wait until they come after you? I not concerned so much about my CC's, (screw them), but I have an unsecured loan at my bank that will be included in my bk. This Saturday will mark my official 1st missed payment and I really feel bad! I only left a little bit of cash in my accounts there, the rest I used to pay utilities, etc this month so it didn't look like I was moving any money, just using it wisely! Should I let them know before they call me? Now it's starting to get scary because I've been paying all these people until now so the calls will start to pour in any day now! Atty said to stop paying them, so I did! Any advice...

[Minnymouth]

Take your attorneys advice,
Only pay the items your going to keep (such as home, auto, utilities). Keep these payments current thru-out the bankruptcy. If you are surrendering your home and auto stop making payments on them also, but continue to pay your utilities on time or risk high deposits after bankruptcy.
If you have retained your attorney, when you receive calls just give them your attorneys name and number and hang up...... They will receive notice from the Court shortly after your case is filed and are forced to make no more calls to you...

Hope this helps explain some of it.

The nerves - well we've all been there! Yes it worries you, and is nerve wrecking for a while, but it will all be okay.... just be patient....

Be sure your attorney tells you what assets you might have at risk - (home equity, auto, pension plan, etc)....

Keep us posted, we can help.......

[keepmine]

Get Caller ID and screen your calls.
As Minny mentioned, once you've offically retained an attorney, answer the phone and just give them his name and contact info.

[notme]

Is it better to notify your creditors that you are filing BK before they call you or should you just wait until they come after you? I not concerned so much about my CC's, (screw them), but I have an unsecured loan at my bank that will be included in my bk. This Saturday will mark my official 1st missed payment and I really feel bad! I only left a little bit of cash in my accounts there, the rest I used to pay utilities, etc this month so it didn't look like I was moving any money, just using it wisely! Should I let them know before they call me? Now it's starting to get scary because I've been paying all these people until now so the calls will start to pour in any day now! Atty said to stop paying them, so I did! Any advice...

I was in your same position. Never late on any payments and now I have to deal with all the calls that were going to come. I felt so guitly for not being able to pay.I did answer a few calls but they really werent satified and continued to call. It only took 5 months of missed payments for me to get sued so just file now so you wont have any problems

[USPSA-Shooter]

Get Caller ID and screen your calls.
As Minny mentioned, once you've offically retained an attorney, answer the phone and just give them his name and contact info.

I just used the speaker option on my answering machine. If it was a collector for a CC they generally hung up when the machine picked up. Only the most determined collectors left a message.

If you don't want to hear the call as it's recorded, turn off the speaker. Return only the calls that are important, (family, friends) pay no attention to the rest.

It's stressful now, but it gets better.

ETA:
I wouldn't call any creditor and tell them anything. They won't start calling for a while yet.

[djk]

another option if you want to do the don't pay for months before filing routine is to get a prepaid cell phone at walmart for 40 bucks and just disconnect the landline. give friends and family and important contacts the cell number. for the most part you won't hear a thing from anybody else. after you get through the process make a new landline number part of your fresh start. of course this may only work if you have a good relationship with your current landline provider. also, when you disconnect, ask if you can select an outgoing message for the now dead number if so, in my opinion get the "your call can not be completed as dialed, please hang up and try again" message, makes the creditors think it is a problem on thier end, plus throws the stupid ones into a endless dumb loop. have fun.