How long until I’m sued? Waiting to file chapter 13

[DynamiteMan]

Hi! 

Long story short I am wondering if anyone knows how long I'll be sued based on these creditors. My last payment was February of this year. Charge off is end of this month (June) for the Sofi and discovers loans.

Sofi 70k loan

Discover $40k loan and credit card

Amex $15k loan and credit cards

Laurel road $31k loan

Light stream $21k loan

Wells Fargo $70k loan and cards 

Capital one 10k credit card

I lost it all to gambling. 
78k salary

$10k left in the bank

I am looking to file chapter 13, but would like to postpone it as long as I can until I am sued. 

Any information is greatly appreciated! If I could make it until December that would be ideal. 

let me know what you think, thanks!  

[Streydog]

The only creditor I had  that is the same as you is Amex.  They were the only one that filed on me.  The last payment was August of LY and they filed at the end of December.  In Novemebr I had mentioned to one of their callers that I was considering filing, that might have sped the process.  It took almost 3 months before I was served, a week after I filed.  The suit was quickly dismissed.  Just dont answer the phone!

[DynamiteMan]

Ok thanks so much for the information! Just so I have the timeline correct

August- stop paying

December- they filed on you? What do you mean by that? They sent you a summons or official letter that you were being sued? 

Three months later- you were served? 

Sorry for the confusion on all this! It's all new to me 😂. So we're you served in December or theee month after that?

thanks for the info, I won't pick up the phone or tell them I'm filing 😂

[Lurker22]

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@DynamiteMan wrote:

Hi! 

Long story short I am wondering if anyone knows how long I'll be sued based on these creditors. My last payment was February of this year. Charge off is end of this month (June) for the Sofi and discovers loans.

Sofi 70k loan

Discover $40k loan and credit card

Amex $15k loan and credit cards

Laurel road $31k loan

Light stream $21k loan

Wells Fargo $70k loan and cards 

Capital one 10k credit card

I lost it all to gambling. 
78k salary

$10k left in the bank

I am looking to file chapter 13, but would like to postpone it as long as I can until I am sued. 

Any information is greatly appreciated! If I could make it until December that would be ideal. 

let me know what you think, thanks!  

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Of yours the only I had the same were Discover and Amex  - Discover was the only to file suit, my last payment to them was 5/16, they must have filed sometime end of 9/17 or 10/17 - I filed my 13 11/17 

The only regret I have is not filing my 13 sooner, I should have filed in 2016 and not waited 17 months to file in 11/17 - if you're going to file and the only thing holding you back is fear I wouldn't wait

[rosco75]

The worst thing that you are doing right now is waiting. There is literally no reason to wait. The longer you wait means the longer it will take for the rebuild. 

[FireMedic1]

Welcome @DynamiteMan 

Check your states medium income for bankrupty. Your income seems on the edge of most states for a 7 or 13.

[DynamiteMan]

Thanks for all the info! I am aware that I shouldn't wait to file. I will consult with a lawyer regarding if I can qualify for chapter 7. Median here is $67k and I make $78k. 

I have to wait to file because these are LARGE gambling debts that are recent. $265k worth. I have taken out massive cash withdrawals from my bank, and used my credit card frivolously in the past 30 days. If I filed now it would just be flagged as fraud.

That's why I'm wondering if I can buy 6 months time before I file? I have some cash on hand to keep me afloat and hopefully fight off creditors.