Oh Well...

[DaisysMom]

Thought I was gonna skate by, been since 12/2008 since I paid on any of the CC's and revolving loans. NOT!!! Got a summons this morning. Cap1 wants their little over 1K...which was the lowest one I owed. I have 3 others from Cap1 that I owe much more on plus a Beneficial that I owe over 12 K on....I don't get that? Ya think they woulda started at the top. But anyways, I have 28 days to respond with an answer to the complaint. So off to my attorney I go...and very well prepared because of this site and all of the excellent advice I received here. I have an appt tomm. Thank you all in the collections forum......hang in there. I'll be checking out the Chapter 7 section now.

DM

[keepsmiling]

So funny, I just remarked on ankle biters in my last post. Interesting that they held off all this time. Are you self employed?
I owe Discover an amount under 1K; I fully expect them to be the first to go after me.

[DaisysMom]

Yes...I am self employed. I own my home though, so they probably are thinking about placing a lien. Oops.....it's well under the exemption amount. LOL
And when I file Chap. 7 they will be dead in the water anyway. Sorry about the cavalier attitude.....I am just so bitter cuz they did this to me with their greed and indifference when I missed one payment (due to not working cuz of a family illness) and they tripled my interest rates and made it impossible to make the payments. But then with only making payments just a little above the minimums anyway...I guess I would have been on the hamster wheel to my grave. So I guess I should thank them for pulling the trigger. That's life and it sure is alot better now that I've learned to live "cash only."

DM

[LadyInTheRed]

...I guess I would have been on the hamster wheel to my grave. So I guess I should thank them for pulling the trigger.

That's the way I look at my situation with Bank of America. I had been playing the balance transfer game, but the offers dried up. I had a $20K blaance on a Bank of America card and the introductory 0% rate expired and was about to go to 19%. At the same time, my mortgage with Bank of America had ended it's fixed rate/interest only period and my payment was about to significantly increase. I called the credit card department and tried to get them to give me a lower interest rate since I had been a customer for years and always paid on time. They wouldn't budge. I tried calling the mortgage department about a modification. My income was too high and they wouldn't take my high credit card payments into account in their calculations. It didn't matter when I told them that I would have to default either on the underwater house or the credit card debt, both with BoA. Different departments. The mortgage side didn't care if I didn't pay my credit card. If either the credit card side or the mortgage side had been willing to work with me to make payments affordable, I would have continued slaving away to pay off debt for the rest of my life. I started searching for information on how I might be able to deal with the mortgage and one of my Goggle searches lead to this site. Bankruptcy had never even occurred to me, but I was definitely bankrupt. Bank of America did me a favor by not working with me. They'll keep getting paid on the mortgage, but they will get paid a small fraction of a penny on the dollar for that $20k credit card, plus a smaller balance on another card. Thank you Bank of America for making me see the light!

[chicagoed195]

Amen, LadyInTheRed

I was in the same situation with BOA and now wish I had tripped over BK forum a year earlier, when I stupidly(in retrospection) paid down over half of my credit debt under the false illusion that by doing so the creditors would be willing to work with me to arrive at manageable payments. They just don't care what happened last week. It's what are you going to do for me now!!

Had I had the good fortune to understand all of my options a year earlier, I would have been in a Chapter 7, I would have a much larger balance in my retirement accounts and I wouldn't have lost any more sleep over the moral issues of paying down my debt.

[shark66]

Amen, LadyInTheRed

I was in the same situation and now wish I had tripped over BK forum a year earlier, when I stupidly(in retrospection) paid down over half of my credit debt under the false illusion that by doing so the creditors would be willing to work with me to arrive at manageable payments. They just don't care what happened last week. It's what are you going to do for me now!!

Signed, sealed, delivered - suckers like that we were five years ago as well. That was a $40K lesson we'll never forget in this household...

Had I had the good fortune to understand all of my options a year earlier, I would have been in a Chapter 7, I would have a much larger balance in my retirement accounts and I wouldn't have lost any more sleep over the moral issues of paying down my debt.

Amen to these oh-so-true-ringing words of painful but enlightening experience...

Good luck to us all.

[GoingDown]

Amen to that!

[GoingDown]

So funny, I just remarked on ankle biters in my last post. Interesting that they held off all this time. Are you self employed?
I owe Discover an amount under 1K; I fully expect them to be the first to go after me.

And yep! The little ankle biters seem to be the first to sue. The only one who sued me was a tiny CrapOne card for a measly $300 principal balance, which quickly ballooned to over $1400 in no time with fees, etc.

And now that it is February 2012, all of my remaining debts have crossed over the Statute Of Limitations threshold. They are all now time-barred debts at this point for me.

"Free at last, free at last, Thank God Almighty, I am free at last!" I like that saying eventhough I am not religious.

[mountanddo]

"Free at last, free at last, Thank God Almighty, I am free at last!" I like that saying eventhough I am not religious.

I don't really think that's religious is it? Thought MLK jr. said it. Of course I failed history so I have no clue!

[LadyInTheRed]

I don't really think that's religious is it? Thought MLK jr. said it. Of course I failed history so I have no clue!

MLK got it from a traditional spiritual and apparently added flourish. http://www.negrospirituals.com/news-..._last_from.htm

Definitely religious, especially coming from a minister like MLK Jr..

[DaisysMom]

Went to see Atty. I had everything he needed and he was very impressed about how much I knew about the process. (I think he was just grateful that he didn't have to explain everything little thing to me.) But to get to the point.....he said it would be a breeze. No assets, income below the cap, everything protected by the exemptions. Woot....good to go! Will be filing in about 2 weeks. I really hated taking this step, but it will feel good to know that Crap1wasted their time and money to try and sue me. "Free at last, free at last, Thank God Almighty, I am free at last!" Perfect ending.

DM