Summons Likelihood
Date: Mon, 07/14/2008 - 16:26
How long do they usually wait?
It depends on the Creditor, and they don't care if your unemploy
It depends on the Creditor, and they don't care if your unemployed or not, they will still take you to court, they just won't be able to garnish your wages because you have none to garnish. Perhaps someone else will have a better idea of the time frame. :)
Our accounts are about 90 days past due right now, give or take
Our accounts are about 90 days past due right now, give or take a few days, depending on due dates. Out of 19 accounts, two so far have threatened litigation. One (about $9000 balance) moved the account to their pre-litigation department at about 60 days and to their litigation department at about 90 days. The other one (about $2000 balance) moved it directly to their litigation department at about 90 days. Neither has actually filed suit, and since we signed Chapter 7 paperwork today, they won't have a chance, so I don't know if they actually would have or not.
I think whether they decide to sue depends on a lot of different factors, and I haven't figured out what exactly those factors are!
Most smart creditors will evaluate cost vs rewards when deciding
Most smart creditors will evaluate cost vs rewards when deciding to file. They could sue at any time,but that paper means nothing if you have nothing for them to take. If you have zero assets,you may want to explore the legal options afforded under bankruptcy.
