Does it make sense to wait to file bk until sued, or just file and get it over with?

[optimistic1]

I am contemplating just what I should do, being about 12 months delinquent. Everything is quiet, either being sent back to OC, or being x'fered to other CA's.

I could file as soon as I scrounge up a couple hundred bucks, but my docket searches come up non-existent.

No answers to DV requests from local firms too, so I am wondering wtf?

I suppose I should just file and get it all over with, as it will be inevitable I will be sued before SOL kicks in, which is several years.

By waiting I am risking the notion that the attorney I hire will not be able to file it quickly, and I will need to be fully prepared with docs if I plan on doing it like this, which seems like a hassle.

Has anyone here waited until they were sued and then filed? How did it go?

[MSbklawyer]

I am contemplating just what I should do, being about 12 months delinquent. Everything is quiet, either being sent back to OC, or being x'fered to other CA's.

I could file as soon as I scrounge up a couple hundred bucks, but my docket searches come up non-existent.

No answers to DV requests from local firms too, so I am wondering wtf?

I suppose I should just file and get it all over with, as it will be inevitable I will be sued before SOL kicks in, which is several years.

By waiting I am risking the notion that the attorney I hire will not be able to file it quickly, and I will need to be fully prepared with docs if I plan on doing it like this, which seems like a hassle.

Has anyone here waited until they were sued and then filed? How did it go?

If filing is truly inevitable, little good can come from waiting. Generally, little harm can come from it either except, as you alluded to, you get into a time crunch because someone is trying to garnish your wages &c. and you attorney charges you more because you need an emergency petition.

[HHM]

Just get it done, the sooner you file, the sooner you begin your financial recovery. Unless there is a strategic reason to wait, there is absolutely no benefit to waiting.

[AngelinaCatHub]

optimistic1, you have near 1400 posts. You know better. You know you do not want a Judgment. What are you waiting for?? What is causing your procrastination? Go for it, but, get into the groove. You are going to watch your pennies now and buy what you NEED, not what you want. Aren't you??? LOL. Get on with it brother. 'Hub

[optimistic1]

Thanks for all the advice, I will just file and get it over with, part of me thinks how long I can go without one, but I have no strategic reason to wait, initially I did, but that time has past.

Well, with that being said, I will file within the next 2 months and I will see how this journey goes.

[AngelinaCat]

Yes, get it out of the way, and you will feel better.

We had a reason to wait. Each year in January, we receive a large payment from a retirement fund. We had to wait six months to file, until that large lump dropped off the radar. So, August 1, should have been a good time to file, with a buffer of a few days.

However, even though our attorney had all our information, she dragged feet and dragged feet. Nor would she return emails or phone calls. As the months wore on we started getting sued by American General, and the autoloan that 'Hub foolishly co-signed for. We had to literally camp in our attorney's office until she filed, which she filed an emergency petition the last possible day of the year, December 28, 2007.

If we had waited, we would have had to wait until August 2008 to file, because of the large payout, and by that time would have had a couple of judgments and possible garnishments against us.

We retained this attorney in August 2006, and wanted all of this over with.

Good luck to you!

[catleg]

Another issue to consider is which way the political winds may blow and change the bankruptcy code. The old bird in the hand theory. It could get ugly if the banks, being bailed out by the taxpayers, manage to tighten the screws on debtors "to save the taxpayers money". Seems unlikely, but you never know.

[LuciluS]

Get it over with! This past year was hades on myself and Dh. May not recall, but we met and paid our Attorney last Sept., however, we were over the median. Decided to stop paying credit cards & wait until we were under the median.

Filed 9/30/09. Our Attorney said our BK was one of the easiest he'd filed. Why? Because I gave him complete history (purchases over $600 & all Balance Transfers) on all credit cards. Itemized listing of horrific medical bills. An itemized listing from the pharmacy showing where we pay $500 a month in prescriptions (yes, DH has medical insurance from his company, I have Medicare & a supplemental policy). An itemized list of Dh's weekly earnings from his employer the past 6 mths. Copy of what my Social Security Disability Statement from the 1st of the year as I have direct deposit & that's all I receive from SS office. Copy of the last 5 years Tax Returns with schedules W-2s, 1099s, etc. Copies of a year's worth of Bank Statements.

Received notice from Trustee our hearing is on 11/5/09 which I'm not the least concerned with. I just don't believe there is anything else the Trustee will ask for.

Dh is having to give up his 2006 Dodge Dakota as our DMI is over $1,000 negative & pymts are $437.98, but Attorney put reaffirm on the papers. Have saved back a little and Dh's boss said he would loan him the money for down payment on a junker. So he's hit a few of the local car lots, but not many. Do know there will be something out there if the Trustee demands we turn the truck over at the 341 hearing.

No, we will not get a fresh start due to both of us having major medical problems. We are strong in Faith, so will deal with the medical stuff as best we can.

You just cannot imagine how it feels like to have filed. We are both happier and just everything around us seems so much more easier to handle. I know you've been around, so you've done your homework LOL!

Me being disabled; thus being home everyday to hear the phone ring & to go get the mail was just down right depressing. It's Not NOW!

Hugs

Luci

The phone never rings anymore.No more mail from CCs, CAs, JDBs...Nadda.

[floridian]

it has been 10 months for me and everyone that i refered to my lawyer has stopped calling... all that might change tomorrow...

i have not filed, hoping i can find some miracle to save me from a 13... its sort of like they can hang me today or next week! ill wait until next week....

i guess that i could go find an expensive house to rent and up my expenses to get a 7... this was what my lawyer was originally working with..( walking away from my current mortgage that is only 600 per month)... now, however i dont have the front money to rent an expensive place that will accept my pets... i blew more than 3k bucks in my last attempt, that fell through..

my lawyer is getting tired of waiting, he wants to file and get it over with, so he can clear his books on me... i cant deal with the 13, sorry..

im still hoping that i can find a good looking lady with no job, that wants to be my room-mate for expense purposes only (of course)!

[frogger]

Just get it done, the sooner you file, the sooner you begin your financial recovery. Unless there is a strategic reason to wait, there is absolutely no benefit to waiting.

Exactly.