[1mommyof234]

Hello, my husband and I have a great deal of cc debt (50k) spread out over 20 or so accounts. We were with a DMP for about 2 years and we couldn't even put all the cc on it because we couldn't afford the payment. We finally came to realize we were fighting a losing battle, between late charges and fees we weren't making any kind of dent in our debt and it was always a struggle to decide what bills we were going to pay what month and still have money for groceries. We met with a bk attourney in Aug. and she said we could go with a Chap 13. We do plan on filing bk in the near future, but we haven't done so yet. We have not paid on any of our cc since Aug. Basically we are holding out for as long as we can, we get calls every 10 min from collectors but we don't answer the phone. How long can we expect to hold out before a cc sues? I have read it takes at least a year or two before they will actually sue--is that correct? Thanks for any advice/help
I am in the state of Iowa

[AmieRenee1980]

No, it is not correct to assume it takes a year or two for a creditor to sue. The fact is, they can sue you tomorrow if they choose. You never know when any given creditor will take that step. Typically, and especially with credit cards, it is more common for them to first send you to a collection agency, who will probably sell it to another collection agency, and maybe be sold a few times more before they ever give it to an attorney to file suit. Then on the other hand, they could send it straight to an attorney to file suit against you tomorrow. There is no way to predict this sort of thing. Best advice I can offer is, when and if you do get served with a lawsuit, do NOT wait until after they obtain a judgment and seek to garnish your wages to file Bankruptcy. You need to go see that attorney the day you get served with a lawsuit, and get the ball rolling.