Economic crisis- how will banks respond to ch7's

[jasmin]

In addition to my specific worries, I have to wonder how the current economic crisis could affect use all personally. Will they be more or less likely to come after those of us thinking of filing. Sould it affect when we do it? Is sooner better than later?

[epiphany]

I would think it would be a distraction from us little guys, but who knows?

Different banks will no doubt assume different policies, just as different divisions of the same bank will assume policies which completely differ from one another.

Just gotta watch your personal situation play out and act accordingly.

ep

[magyar123]

In addition to my specific worries, I have to wonder how the current economic crisis could affect use all personally. Will they be more or less likely to come after those of us thinking of filing. Sould it affect when we do it? Is sooner better than later?

Don't think they'll "COME AFTER those of us thinking of filing. They, creditors, will probably lobby for provisions to make it harder to file

[jasmin]

That is what I think too. But when my house was foreclosed on, the took over a year to finally do it, even though I was begging them to end it. They were just hoping for a miracle.

[AngelinaCatHub]

Well, in my humble opinion, those employees left will work their a$$ off attempting to do their job to pull whatever bank they are working for, up.

However, It is also my opinion, that WE are the fortunate ones. We are in the front of the line. Believe me, there will be more. Only my opinion. 'Hub

[Cali]

I think the BK law will be changed again and it will be a lot harder to file C7.

[WoodSprite]

In addition to my specific worries, I have to wonder how the current economic crisis could affect use all personally. Will they be more or less likely to come after those of us thinking of filing. Sould it affect when we do it? Is sooner better than later?

I have a feeling the time frame on collections/foreclosures will be much shorter: that is, they will come after you quicker. The advice we're used to giving people - that you've got x number of months before they really ramp up the collection calls, or repo the car, or place a lien - I'm afraid our experiences gained in the last year or three are going to become increasingly irrelevant.

Once you're in the process, maybe, it'll take longer to play out, since the system is so backlogged. But look at what's already happened to the quaint old concept of check float times and bill payment grace periods. The big guys are desperate, and they're going to put all the considerable resources at their disposal into wringing it out of the rest of us.

I really, REALLY hope I'm wrong...