bad shape

[landofpoor]

hello The phone calls have just started for late payments on wife cards and next month they will start for me also I am sure.So far have not talked to any of them.I am curious what the next steps will be on this.Also is it or will it be possible to file banktruptcy in future for cash advances totaling around50k in last 2 years.Last cash advanced was 2 months ago that was 5k.Had good intentions of paying the minums till got on our feet but so far it hasnt happened.I have been out of work for a year and wife has been out of work for 2 yrs.Also what happens if they put a lien against the house that is not worth anywheres close to 50k?I am in a stete where house is exempt but I believe they can still put a lien against it??If they get lien thats no problem if they cant touch it till we are gone and continue to live in it.But I am also wondering could they literally throw us out in the street with a lien against it.The economy here blows like everywhere else.

[landofpoor]

so far have had 5 calls this morning but they dont leave a message

[JRScott]

Liens typically take a long time probably a year of non payment.

What I suggest is taking a little money buying an answering machine. Leave a clear message so everyone knows its you. Then turn off the ringers and let the answering machine pick up.

Check once or twice a day to see if friends/relatives/work need you. Then about once a month return one call from each creditor, explain that you are aware of the debt, your doing your best to find employment. Do not promise a payment or anything of the such to them though.

Good Luck mate

[WoodSprite]

hello The phone calls have just started for late payments on wife cards and next month they will start for me also I am sure.So far have not talked to any of them.I am curious what the next steps will be on this.Also is it or will it be possible to file banktruptcy in future for cash advances totaling around50k in last 2 years.Last cash advanced was 2 months ago that was 5k.Had good intentions of paying the minums till got on our feet but so far it hasnt happened.I have been out of work for a year and wife has been out of work for 2 yrs.Also what happens if they put a lien against the house that is not worth anywheres close to 50k?I am in a stete where house is exempt but I believe they can still put a lien against it??If they get lien thats no problem if they cant touch it till we are gone and continue to live in it.But I am also wondering could they literally throw us out in the street with a lien against it.The economy here blows like everywhere else.

Welcome, LOP. Probably the most important thing for you right now is to figure out how to feed yourselves without using credit cards. I know it's asking for the moon in your situation, but if you can stop using them NOW, you may be able to file within six months, and the minute you file, you are safe from the possibility of a lien. An attorney can best advise you about the waiting period in light of the cash advances, but it seems clear you were honestly trying to tide yourselves over until your employment situation improved, so you'll probably be able to include those advances in the BK.

If you talk to the creditors when they call, be careful not to make any promises, or to volunteer any information at all. They can be mean and slippery, so just make yourself a script if you need to, and keep it by the telephone.

Keep reading the archives of this list, make a huge list of questions (beginning with "how long will we have to wait to file?"), and start interviewing attorneys now. You've taken a good first step. Good luck to you, and stick around!

[landofpoor]

thanks for the advice jrscott on the answering machine.yesterday was relentess on them calling on wifes card.Each time it would get answer machine they would hang up. Had to be at least 15 calls that started between 8 am and 9 pm last night.Next month the calls will double I am sure as I will no longer be paying on my cards either.Far as talking to them I can see no real point in it as we cant pay them.I do have the recorder set to let them know they have reached us by our names clearly stated on it. I am curious what will be the next step they will take by not speaking with them?I think its prob best not to seeing how wife or I could say something to them that we shouldnt.Also is there any real concern to pull most of coin outta the checking accts.Theres 4k in checking between our accts that we are currently surviving on that I would hate to lose.

[landofpoor]

Fri we pulled the 4k outta the checking acct and left 200 in there just to keep them open.I figured better safe then sorry that there be a possibility of the acct frozen.Will that be looked upon as a bad thing say in 6 months to a yr when go to file ?

[Reddrocket07]

Fri we pulled the 4k outta the checking acct and left 200 in there just to keep them open.I figured better safe then sorry that there be a possibility of the acct frozen.Will that be looked upon as a bad thing say in 6 months to a yr when go to file ?

No, I believe they only check 3-6 months worth of bank statements prior to filing

You can request in writing that the companies can not call you but they can send written correspondance to your address. That might help some. My wife and I use cell phones, we do not have a home phone. Its easy to put the phone on silent and ignore creditors who continue to call. If you dont want to write, just change your phone number and only give it out to friends and family. Just be warned that if you do ignore the creditors, they start calling your references.

Once you retain a lawyer at inform the company you are filing BK, you should tell them to direct all inqueries to your lawyer, but that wont be for a while if you arent going to file until 6 mos. to a year from now.

[landofpoor]

Ok Heres another question I have ,Also have a motorcycle that I know wont be exempt and I owed on it back last spring so I used cash advanced and got totle for it so I woudnt have to deal with local banker hounding me for pyment or possible repole.My question is what would happen to this say if I was to sell it next spring.Other then that there is no luxeries that will be able to be turned into cash.

[landofpoor]

Anyone have any idea on the motorcycle what would happen?

[DeeKC]

I don't know about anyone else, but I stopped paying on my credit cards in July and as soon as the calls started I told each on the I was filing and the name of my lawyer I had retained and that was last I heard of them. Chase, Discover, Citibank, Commerce Bank and Capital One. Most of the reps were very nice, and a couple even wished me good luck...

[Cali]

They can ask up to 1 year of bank statements if you they want to.

No, I believe they only check 3-6 months worth of bank statements prior to filing

[landofpoor]

They can ask up to 1 year of bank statements if you they want to.

So in other words seeing I and wife have pulled the coin outta the bank and I wait till a yr from say today last yrs bank statements arnt gona show no funds to speak of and that should eliminate where the 4k went if I am reading this correct? Our checking accts are still open but theres nothing in em really. As far as paying the utility bills we have started paying with money orders. Far as groceries other nessecities its a cash basis

[Cali]

Have you paid on your last cash advance at all? If not, then I would do a couple of payments and be done with it.

Before I filed in June, I had 2 cash advances earlier in the year. The highest was only 3k, and I didn't have a problem filing and being discharged.