Author Topic: Delaying creditors from suing..  (Read 849 times)

0 Members and 1 Guest are viewing this topic.

sticksandstones

  • Valued Member
  • Posts: 29
Delaying creditors from suing..
« on: August 12, 2017 09:02:18 PM »
Guys ive feel behind on a lot of cards. Some going into 4th month. Just looking ahead a few months..anything i can do to stave off collections until  i decide bankruptcy or settlement? I dont want to file bankruptcy if i dont have to but i will if creditors start suing me..

Clydesmom66

  • Valued Member
  • Posts: 2006
Re: Delaying creditors from suing..
« Reply #1 on: August 12, 2017 11:17:43 PM »
Guys ive feel behind on a lot of cards. Some going into 4th month. Just looking ahead a few months..anything i can do to stave off collections until  i decide bankruptcy or settlement? I dont want to file bankruptcy if i dont have to but i will if creditors start suing me..

There is no magic method of delaying litigation if the creditor is determined.  3 top original creditors that are very aggressive at pursuing litigation quickly are AMEX, Discover, and Cap1.  The rest tend to sell their defaulted accounts to junk debt buyers. 

Generally none of the top 3 sue until the account is charged off as bad debt which occurs 6 months after default.  It could take 3-6 months to get into court depending on your state.  In California as long as 2-3 years the courts are do backed up. 

Reduce your expenses, save up, and keep the BK nuclear option if it gets out of hand.
Be VERY careful following advice from the internet! What worked for someone with thousands of posts on a message board may not work for YOU in your state.  Consult a lawyer when ever possible.

sticksandstones

  • Valued Member
  • Posts: 29
Re: Delaying creditors from suing..
« Reply #2 on: August 13, 2017 02:28:20 AM »
most of my cards are with synchrony and citi..thanks for help

muddywater

  • Valued Member
  • Posts: 48
Re: Delaying creditors from suing..
« Reply #3 on: August 13, 2017 12:10:29 PM »
most of my cards are with synchrony and citi..thanks for help

Like Clydesmom66 said, "Ther is no magic method" every one is looked at for their own ability to collect from, with that said I had multible cards from Synchrony, most were sold to JDB's after about a year from last payment, one they tried to sue on two years after the last payment but dropped the case for whatever reason. does not help but does give a little more insight..........Good luck.
Stand by for heavy rolls as the ship comes about.

sticksandstones

  • Valued Member
  • Posts: 29
Re: Delaying creditors from suing..
« Reply #4 on: August 13, 2017 09:16:02 PM »
so did synchrony try to settle with you? How long was it after charge off did jdb start calling you?thanks

chester474

  • Valued Member
  • Posts: 179
Re: Delaying creditors from suing..
« Reply #5 on: August 14, 2017 03:56:01 AM »
File a Chapter 7 - you'll be glad you did.

Get a "fresh start."

Bankruptcy is in the U. S. Constitution - it's all federal. Presidents have gone bankrupt - to name one - General U. S. Grant.

Don't worry about your credit rating - you're already in deep. Once you file they know you can't file again for 7 years.

muddywater

  • Valued Member
  • Posts: 48
Re: Delaying creditors from suing..
« Reply #6 on: August 14, 2017 11:33:14 AM »
so did synchrony try to settle with you? How long was it after charge off did jdb start calling you?thanks

From the first late payment they called everyday  1215  So i just blocked their calls, as it got closer to 6 months they sent advice on how to bring account current, after 6 months some were sold to JDB's...........They call right away and all day, sent DV CMRRR with request to stop calls, so then just letters after that.....Some have offered to settle.  "BUT" keep in mind that my case......and your case.....and the guy across the street or state is different. OC's and JDB's operate off your State laws 'AND" if you have anything to go after.....Job, bank account, assets, ect. I have nothing they can take, so they leave me alone. they go after low hanging fruit first, the easy money.
Stand by for heavy rolls as the ship comes about.

BrokeBob

  • Valued Member
  • Posts: 1433
Re: Delaying creditors from suing..
« Reply #7 on: August 14, 2017 01:05:03 PM »
Not every case is the same. 

In my case Citi sued the earliest, Cap 1 was fairly early, Discover and Amex waited years. 

delandra

  • Valued Member
  • Posts: 174
Re: Delaying creditors from suing..
« Reply #8 on: August 14, 2017 01:23:21 PM »
Cap1 never tried to sue me, but it should be noted that I had a Post Office Box and they did not have a physical address on me.  Not sure if that was the reason why, or if they would have eventually sued before the SOL expired.

They never sold my debts to JDBs either.  Everybody else did but not Cap1.  They'd refer them out for third party collection, bring them back when [CA of the month] failed, refer them out again, rinse and repeat, but they never sold them.

Tried to arrange a settlement before I filed BK and the best they would do is 50% of their massively inflated balance (nearly 400% of the original charge off) that had been accruing interest and fees for five years.  Their stubbornness was a key factor in my decision to file bankruptcy. 

sticksandstones

  • Valued Member
  • Posts: 29
Re: Delaying creditors from suing..
« Reply #9 on: August 14, 2017 03:24:39 PM »
thanks guys..they cant touch my money since its ssi disability. Thats only reason im waiting to see what happens. Should i come right out and tell the jdb  that im on disability or play around for awhile.

Bubbles

  • Valued Member
  • Posts: 1239
Re: Delaying creditors from suing..
« Reply #10 on: August 14, 2017 05:52:01 PM »
SSI is only protected to a certain degree. Good idea to review the limits.

thanks guys..they cant touch my money since its ssi disability. Thats only reason im waiting to see what happens. Should i come right out and tell the jdb  that im on disability or play around for awhile.

muddywater

  • Valued Member
  • Posts: 48
Re: Delaying creditors from suing..
« Reply #11 on: August 14, 2017 08:07:28 PM »
thanks guys..they cant touch my money since its ssi disability. Thats only reason im waiting to see what happens. Should i come right out and tell the jdb  that im on disability or play around for awhile.

This is the rule they must follow and you must make sure you follow to protect your SSI................

https://www.fiscal.treasury.gov/fsreports/ref/greenBook/pdf/guidelines_garnish0311.pdf

P.S. never a good idea to poke the bear..............they will find out what you have and don't have on their own.
Stand by for heavy rolls as the ship comes about.

notme

  • Valued Member
  • Posts: 74
Re: Delaying creditors from suing..
« Reply #12 on: August 15, 2017 12:22:39 PM »
There is no magic method of delaying litigation if the creditor is determined.  3 top original creditors that are very aggressive at pursuing litigation quickly are AMEX, Discover, and Cap1.  The rest tend to sell their defaulted accounts to junk debt buyers. 

Generally none of the top 3 sue until the account is charged off as bad debt which occurs 6 months after default.  It could take 3-6 months to get into court depending on your state.  In California as long as 2-3 years the courts are do backed up. 

Reduce your expenses, save up, and keep the BK nuclear option if it gets out of hand.

Clydesmom66, when you say 2-3 years for Cap1 in California, do you mean time to go to trial after answering initial suit or time it takes for Law Firm to file in court?

nobk4me

  • Valued Member
  • Posts: 844
Re: Delaying creditors from suing..
« Reply #13 on: August 15, 2017 08:00:05 PM »
I would add Citi to the aggressive creditor list.
Molon labe

Judgment Proof!

The Litigator

  • Valued Member
  • Posts: 1235
  • So, sue me.
Re: Delaying creditors from suing..
« Reply #14 on: August 17, 2017 01:11:47 PM »
Not every case is the same. 

In my case Citi sued the earliest, Cap 1 was fairly early, Discover and Amex waited years.

Yep, everyone is different.

I had Amex and Cap 1 sue right away. Citi is still laying dormant over a year later. Discover never sued three years later.

 

credit