My Story.....is this really my life?

[ssmdem]

I asked this in another thread so move this one if placed wrong.

How long should I wait to file Chpt.7 If I do it now it will look like too much income to meet the median income. If I wait 6 more months for the look back after June, so actually 7 months it will look like I'm buried in debt. How long can i go before the creditiors really get tough with collections? I'm only 1 month behind so far. The calls have started and I send one collector a Cease and Desist letter. Capitol one already tuned over to collections a $10k debt after missing one payment.

WOW!! Seriously??? I've got a Citibank and a Chase account - both about $25K. Wonder how long I'll last with them.

[blockhead]

I asked this in another thread so move this one if placed wrong.

How long should I wait to file Chpt.7 If I do it now it will look like too much income to meet the median income. If I wait 6 more months for the look back after June, so actually 7 months it will look like I'm buried in debt. How long can i go before the creditiors really get tough with collections? I'm only 1 month behind so far. The calls have started and I send one collector a Cease and Desist letter. Capitol one already tuned over to collections a $10k debt after missing one payment.

You probably have months, maybe at least 5 or 6 - sure there can be exceptions but they don't start legal action typically for 5 mths or more, and even if they do, you can hold them off long enough to file. It's important to file at the right time and a lawyer can help you with that.

[scrapiron53]

WOW!! Seriously??? I've got a Citibank and a Chase account - both about $25K. Wonder how long I'll last with them.

Yes, I'm totally serious. I missed one payment and the calls started from a collection agency. I was on time every time before that. I wasn't even 30 days until 5/10/10. I guess they must have seen it coming. I just got a few more bills with late charges added but no calls.

[ssmdem]

I expect the calls to start coming from the banks immediately, but that's crazy for them to sell it to a collection agency before 30 days!

[scrapiron53]

You probably have months, maybe at least 5 or 6 - sure there can be exceptions but they don't start legal action typically for 5 mths or more, and even if they do, you can hold them off long enough to file. It's important to file at the right time and a lawyer can help you with that.

I hope so...... I really need some time to save money for a lawyer and for the look back period. I am really in a mess,, my income is off by 1/3 and I am a nervous wreck with the calling.