I got served today...only 3 months after I stopped paying my CC

[ssmdem]

Who knows what factors Chase looks at, but I have seen a trend that they are one of the quickest ones to sue. I think we got sued because we had a high balance with them, in excess of $25,000. We held them off for awhile I think because we would talk to them occasionally. We kept telling them I had lost my job and were trying to figure out how to pay the mortgage. Chase could verify this because our mortgage is through them as well. However, strange thing is - we haven't heard one word from them as far as the mortgage, and we're at 8 months now behind in that payment. I agree with someone earlier who said they're going to sue those they think they can get money from. My husband was still employed, and they thought they could get his wages garnished.

[tobee43]

Who knows what factors Chase looks at, but I have seen a trend that they are one of the quickest ones to sue. I think we got sued because we had a high balance with them, in excess of $25,000. We held them off for awhile I think because we would talk to them occasionally. We kept telling them I had lost my job and were trying to figure out how to pay the mortgage. Chase could verify this because our mortgage is through them as well. However, strange thing is - we haven't heard one word from them as far as the mortgage, and we're at 8 months now behind in that payment. I agree with someone earlier who said they're going to sue those they think they can get money from. My husband was still employed, and they thought they could get his wages garnished.

ssm...yes, it has been just about 3 years with the mortgage..that we did in fact get served on...but not one of the credit cards...odd isn't it....

we did vacate the premises, however, chase still has NOT foreclosed...you're correct, there appears no rhyme to the reason with whom chase chooses to sue and whom NOT to. and, i also agree, chase works fast on those they think they may be able to collect from.

[ssmdem]

ssm...yes, it has been just about 3 years with the mortgage..that we did in fact get served on...but not one of the credit cards...odd isn't it....

we did vacate the premises, however, chase still has NOT foreclosed...you're correct, there appears no rhyme to the reason with whom chase chooses to sue and whom NOT to. and, i also agree, chase works fast on those they think they may be able to collect from.

If I could get three years out of this property, I'd be a happy camper. Don't think I'll get that lucky -- but who knows. My attorney thinks they will start moving now that we filed, but we'll see. So far nothing. Have thought about hiring someone for foreclosure defense just to draw it out a little further, but depends on what their fees would be and how much longer it would buy me.

[tobee43]

If I could get three years out of this property, I'd be a happy camper. Don't think I'll get that lucky -- but who knows. My attorney thinks they will start moving now that we filed, but we'll see. So far nothing. Have thought about hiring someone for foreclosure defense just to draw it out a little further, but depends on what their fees would be and how much longer it would buy me.

oh no! we vacated the premises....immediately following the summons. we had 30 days to answer of the summons said we would have to go...so we did...we couldn't afford to pay for heat and electric which was running us $1100 monthly...although we had all but 3 rooms shut off....

when we moved our entire living expenses don't even exceed what our monthly utility bills were!

i think it doesn't really depend on chase how fast the foreclosures are going...it's whether your a Judicial and Non-Judicial Foreclosures
state....and how fast the area is moving them out....

we live in florida, but our property was in new jersey......who the heck wants to live there...so they aren't moving anything in new jersey from what we have been told!!

[ssmdem]

oh no! we vacated the premises....immediately following the summons. we had 30 days to answer of the summons said we would have to go...so we did...we couldn't afford to pay for heat and electric which was running us $1100 monthly...although we had all but 3 rooms shut off....

when we moved our entire living expenses don't even exceed what our monthly utility bills were!

i think it doesn't really depend on chase how fast the foreclosures are going...it's whether your a Judicial and Non-Judicial Foreclosures
state....and how fast the area is moving them out....

we live in florida, but our property was in new jersey......who the heck wants to live there...so they aren't moving anything in new jersey from what we have been told!!

We're in Florida now, and houses just aren't selling around here. There's three in our very small neighborhood alone that have been on the market for over a year. Our attorney has said to respond to everything and stay put until about two days before the auction date. Were they telling you to vacate because of the auction and then didn't have it -- or is it out of your name now but they just haven't tried to sell it?

[Mere]

Thank you all for your advise, and humor I could use a little right now...Ryan that made me laugh

I agree from everything I have read, we are a prime target that is why Chase has been so agressive towards us, current mortgage, and cars, have the income to pay, we just refuse!!! I will just file for BK and call it a day, reguardless if it's a ch. 7 or 13 it doesn't really matter to me. I just want to be out from under all of this...

Glad I have you guys, thanks again!!!

[Ifonly]

You'll probably be a CH13 as we, too, are PA and my husband makes about $95K (gross) and they included my UI to bring us up to about $120/annually. Just my husband's salary alone would have put us at a CH13 based on the median. We ended up with $801/monthly as a payment but there were a few items I wish our attorney had been more aggressive with such as car maintenance, possibly an amount for vet care, clothing, etc. But he felt he knew what the trustee would accept and he was probably right. Some items I was surprised they allowed such as $80/monthly for school lunches for two kids and $100/monthly for "entertainment". We surrendered our home (grateful for it at this point, I talk to some of our old neighbors and the HOA is a mess with infrastructure problems and crime has become a concern - crazy, rising property taxes as well) and had to surrender a car due to having just purchased right before my lay off and it was a high monthly payment.

We got served by AMEX almost right out of the gate as well. I paid them almost to the end, stopped paying them in January and was served at the end of March. Filed our CH13 May 7 which stopped everything in its tracks.

[tobee43]

We're in Florida now, and houses just aren't selling around here. There's three in our very small neighborhood alone that have been on the market for over a year. Our attorney has said to respond to everything and stay put until about two days before the auction date. Were they telling you to vacate because of the auction and then didn't have it -- or is it out of your name now but they just haven't tried to sell it?

oh no..we never had an auction date...the house lay empty now just about 3 years.....we were "threaten" to vacate, but knew we didn't have to...we did because we simply were NOT paying $1100 in utilities alone to stay in the house...so we moved out after 33 years in the same house.

we hired an atty in florida...waited the 2 years so we could file state...although we had nothing to homestead, we wanted to wait to be able to say "NO" to all questions on the petition.....our names are still on the deed...and that's only a technicality....the bank changed the locks...took and have maintained the house...many on this forum argue this point, but we are no longer liable for the house...it was clearly surrendered, the bank never fought it...it's theirs now..we knew we could have stayed...most likely 2 years without paying but we wanted out of there!!

in florida, in our community we also have a few homes in foreclosure...it has taken them at least 2 years to get people out...so, i would have stayed put, had the property been here that's for certain!

[tobee43]

You'll probably be a CH13 as we, too, are PA and my husband makes about $95K (gross) and they included my UI to bring us up to about $120/annually. Just my husband's salary alone would have put us at a CH13 based on the median. We ended up with $801/monthly as a payment but there were a few items I wish our attorney had been more aggressive with such as car maintenance, possibly an amount for vet care, clothing, etc. But he felt he knew what the trustee would accept and he was probably right. Some items I was surprised they allowed such as $80/monthly for school lunches for two kids and $100/monthly for "entertainment". We surrendered our home (grateful for it at this point, I talk to some of our old neighbors and the HOA is a mess with infrastructure problems and crime has become a concern - crazy, rising property taxes as well) and had to surrender a car due to having just purchased right before my lay off and it was a high monthly payment.

We got served by AMEX almost right out of the gate as well. I paid them almost to the end, stopped paying them in January and was served at the end of March. Filed our CH13 May 7 which stopped everything in its tracks.

IF...nope..depending not only on your district in florida, but on the county you live in..... they do NOT include your UI....they did NOT in ours...but in the next county over they did!!!!! it's so confusing!!! don't know if it's that way in PA?????

[Mere]

Ifonly, this was really helpful as our situtations are very similar...I have been wondering how much our payment will be to the trustee. We owe about 85k in CC's so that is what our payment will be based with the DMI. I could handle $800 per month, we spoke with one attorney so far, she was talking about a 100% payback and my payments will be around $1500 per month, ouch!!! I didn't like that...any advise on how to lower the paymet would be greatly appreciated.

But ultimately I guess that's up to how savy the attorney is huh?? We have a meeting on Monday with another attorney, he has more experiance, so we will see what he has to say

[tobee43]

Ifonly, this was really helpful as our situtations are very similar...I have been wondering how much our payment will be to the trustee. We owe about 85k in CC's so that is what our payment will be based with the DMI. I could handle $800 per month, we spoke with one attorney so far, she was talking about a 100% payback and my payments will be around $1500 per month, ouch!!! I didn't like that...any advise on how to lower the paymet would be greatly appreciated.

But ultimately I guess that's up to how savy the attorney is huh?? We have a meeting on Monday with another attorney, he has more experiance, so we will see what he has to say

i think you should post that question in the "13" forum....maybe someone can take an actual look at your numbers and help you get them down a bit.....

there are some great people that frequent that forum that have been successful with their 13's and have excellent insight....i would post your questions there....best of luck!

[Mere]

Thanks tobee43 will do!!

[tobee43]

Thanks tobee43 will do!!

and don't worry...i know that's easy to say...but it will ALL work out! it will!!!

[Ifonly]

I don't know if it varies by district in PA, but in ours, the UI was included. No way to get around it and was told that we'd have to revise the plan if I ran out of UI before getting a job (this was also early in the recession; I'm not sure if anyone expected the idea of "getting a job" to be so similar to "winning the lottery"). I couldn't imagine doing a payment as large as that on the income you stated. Although one thing that helped us was my fighting with the lawyer and the trustee to raise the amount of federal taxes that were being withheld from my husband's check. I knew that by surrendering the house, we would no longer be deducting over $9K in property taxes, over $20K in mortgage interest, etc. So our effective tax rate was going to go from somewhere around 8% to 18%. Thank goodness I pushed that issue as we did owe about $1,000 in federal taxes last year even after having over $16,000 withheld. If the trustee had insisted on using the paystubs before we adjusted them, we would have owed $12,000 in federal tax. So anyway, federal tax is a pretty large deduction in our plan.

[ssmdem]

oh no..we never had an auction date...the house lay empty now just about 3 years.....we were "threaten" to vacate, but knew we didn't have to...we did because we simply were NOT paying $1100 in utilities alone to stay in the house...so we moved out after 33 years in the same house.

we hired an atty in florida...waited the 2 years so we could file state...although we had nothing to homestead, we wanted to wait to be able to say "NO" to all questions on the petition.....our names are still on the deed...and that's only a technicality....the bank changed the locks...took and have maintained the house...many on this forum argue this point, but we are no longer liable for the house...it was clearly surrendered, the bank never fought it...it's theirs now..we knew we could have stayed...most likely 2 years without paying but we wanted out of there!!

in florida, in our community we also have a few homes in foreclosure...it has taken them at least 2 years to get people out...so, i would have stayed put, had the property been here that's for certain!

Gotcha! We're staying put until it's out of our names. At that point, we've got a rental property that as of this month will be vacant. We just recently quit paying on it, so I figure we've got a while more to go on it before they foreclose. We're going to keep it looking "lived in" so the bank won't think it's vacant and hopefully just move into it once we're forced out of here and then stay there until they send an auction notice on it. We can afford the utility bills here, but I understand the position you were in there -- plus yeh, New Jersey -- nope, I couldn't handle the cold.