when did your calls start?

[jribe]

Funny thing.. we've never been late on anything, always paid our bills early.
We are letting go of our two vehicles when we file for BK7 in May.

I didn't make the Jan payments for either car- and we haven't driven them. Payments were due in Mid Jan- and we haven't heard a peep!

Is that odd? I'm suprised they didn't call to "remind" us our payment was due? Is that normal?

I just wonder when they'll bother to call... I would like them to repo in the next month or so, so that i can't drop insurance on them...

anyways- just wondering what happened with everyone else.

[treehugger1]

Interestingly enough, I have a theory. For how many years were you timley on your payments? How long have you had these accounts? I didn't hear a peep out of my long-term creditors and CC's (I had accounts for 10 - 20+ years) until 90 days had passed by. It surprises me that in the current economic times they have not made immediate contact. If the accounts have been with you for years, perhaps it buys some time.

The other thing I realized is that the vast majority of my creditors would have no clue of my recent phone number. I don't think I ever updated my phone number with older creditors over the years. In addition, any references I ever gave to the long-standing accounts were never updated.

It is hard to say why you have received no calls. Check your credit reports and see if any of your creditors have been checking up on you via a soft pull.

WHen I started to spiral downward, I noticed that many of the big CC companies were looking at my CR bi-weekly. I'll bet they'd be surprised to pull them now and see I fell from 700+ to 500+. LOL

[fireworks]

I can't say about cars (we're keeping ours) but my credit cards started calling within a week or two of being past due. My payment history has been a bit spotty in the past, maybe that has something to do with it, but I'm already getting several calls per day. I set up some things on my phone to block "unknown" caller ID and dump known bill collectors to a "special" voicemail box but I still get 2-3 calls through the filter most days. It's been less than a month since I decided to stop paying credit card bills and a few of them aren't even past due yet - but most of them are.

[optimistic1]

Not odd at all, if you just stop paying on the cars, they wont remind you.

They will just repossess them. If you want them to do it, then just call them, instead of wasting money on insurance.

[jribe]

thanks for the replies... we've had both cars for about 2 years.. Never had any lates on our credit reports. I'm sure the CC companies will call when we're late next month. But i suppose everyone is right about the economy. I think there's a lot of people in similar situations.. I just was expecting calls right away i guess....

I remember about 3 years ago (with a different car) i had scheduled an online billpay- and the bank screwed up and didn't get it delivered to the lender in time. Anyway- i got a call the day after the payment was due, and then sincei was at work, i received probably 5 more calls during the day... for being one day late! Which i really wasnt anyway. They got that cleared up...

[rockyroad]

usually you have a grace period after your bill says it's due. My grace period is actually 14 days after the stated due date.
You probably wouldn't receive any calls until after that period and maybe not until they are a full 30 days late.
With no lates on your CR, they will probably be calling to remind you that you are at risk of having a 30 day late added to your report.

I am actually keeping my cars but my friend is having no luck with Wells Fargo picking up the car she hasn't made a payment on since Oct. She has missed a full 3 payments and well on the way to a 4th and all they do is call every day. She tells them to come pick it up but they only want the money, not the car!
She finally bought a new one, dropped the insurance on the old one and it was towed from her apt. complex. The tow company wanted to know when she was going to pick it up and pay the fines and she told them to call the lender.
It's weird...no one wants the car!!!