bankrupcy question

Even if you are sued, a BK will bring the suits and any other pending legal action to a halt. There is a bankruptcy forum on the web that you might google for advice and experience in such matters.

 

Unfortunately bankruptcy attorneys now charge an arm and a leg. Try to borrow the funds from good friends and/or relatives.

 

We went and put a down payment and made payments it doesn't cost much to file and you might be able to head any suits.Also check with any legal aid in your state.Be ready for a lot of paper work you'll need credit reports tax statements etc.Try not to wait to long.Don't feel alone we can help you with somethings remember this will pass,don't panic take a deep breath and relax.

 

First thing you need to do to tell the collection agencies to send all further communications through the mail and to stop calling. This will bring alot of relief to you as you wont have to worry about the phone ringing off the hook. Then send a Cease and Desist letter to each CA. Check the Sample letter section for one. 2nd, send a debt validation letter to each CA, this works for a lot of people, worked once for me.

Another thing, if any collector calls and makes any threatening remarks in any way to you or shares your information with anyone else, make sure you document it. Also, I believe they can only call you once a day between 8am-8pm YOUR time(not too sure on that, might want to look it up). Find out if the CA(s) are bonded in your state to collect debts, if they aren't they can't collect from you at all. I believe you can check that through your state's attorney general's office.

DOCUMENT EVERYTHING AS COLLECTION AGENCIES VIOLATE THE FDCPA ALL THE TIME!

But as for filing bankruptcy, I would hold off on it. I went and filed before I educated myself and now its stuck on my report even though I had it dismissed. I strongly suggest you read, read and read some more. There is a ton of information about this from other people that have been through the same thing on this site.

I am just speaking from my own personal experience and from what I've learned from reading these boards. There are more knowledgeable people for this than myself, and I am definitly not a lawyer, lol. But empower yourself and read, I would even suggest looking through the FDCPA (Fair Debt Collections Practices Act)

KNOWLEDGE IS POWER!

 

You would be surprised what a very simple cease and desist letter can gain you. Simply write them (return-receipt) and tell them you are exercising your rights under the FDCPA and state that all phone communications to you or any other third parties cease. You can add the caveat that you will accept correspondence via USPS mail. This does not need to be some long drawnout letter.

The downside of this, in my personal experience, is that local creditors/CA's might take other actions quickly. This might be especially true if you are looking at local small-claims procedures. Even then, if you deny the claim and request a hearing (cost to you might be $40 - $80 depending upon the state,)
you can gain another 30 - 90 days depending upon how full the small claims docket is in your circuit court.

Once you've written one letter to one CA/Creditor, the next ones are easier as you just make some modifications to your first letter.

In my experience, I've found that all of my national CA's and local CA's immediately comply. Again, I keep my request simple and to-the-point.

If youa re within the 30 day FDCPA window for validation, you can also request a "validation of debt." It is perfectly fine to start your letter with the sentence, "I am disputing this debt under the FDCPA." You don't need to include any particular's. Just my experience, and I am also not an attorney. LOL

 

A bankruptcy is a major move to make for anyone. You already know that. My husband is in the car business so you can turn on any tv and know what's happening in my house. We are now making around 2,500 less a month that just over a year ago. We had no option but to file. It was credit card payments or electric and food. So they lost out as well as us. But a friend at work is filing for bk and is making payments to his attorney. I think he pays around 200.00 a month. This is also helpful because a few months ago he was getting around 20+ collection phone calls a day, and now he refers them to his attorney and now the phone calls have stopped. Change your home phone to unlisted and don't tell anyone the number until your bk is discharged. If you have to file, you have too. Only you know your situation and your bills. Good luck and keep your head up, its not the end of the world the sun will still be up tommorrow

 

Be careful using the words "cease and desist." When you tell them to cease and desist, you leave them no choice except to file suit.

What you need to do is send a letter (don't do this by phone) asking them to verify the debt. In that letter, include the statement "phone calls are inconvenient at any number at any time. Please communicate in writing only." This is the language that is in the law, and the language you need to use.

The language "cease and desist" is very likely to land you a summons.

 

I agree with Hedwig here . . .