How Soon Will a Creditor Sue You After You Default on Your Debts

[jk]

It was not planned though.

Still irresponsible and there are means of birth control that are 100% although most are not quite as sure.


So, are you going to name the child Brian Keith [last name], you know so the initials will be BK [last name]. I can see it now. The nurses will call him BK baby.

[llworking]

My question involves collection proceedings in the State of: Washington State

I am currently in a bind. I have around $85,000 of credit card debt which includes an unsecured loan.

I am struggling to pay these debt and my wife is now pregnant and had to stop working.

If I decide to stop paying on these debts, what is that average time a creditor would start to sue?

I know legally they could sue if it is only 1 day late, but what amount of time is usually typical?

Unsecured Loan: 21,000

Card 1: $25,000
Card 2: $19,000
Card 3: $12,000
Card 4: $2,000
Card 5: $1,200

I disagree a bit with a previous response that you received. How soon a creditor will sue has a great deal to do with how high the balance is.

I suspect that Card 1 and Card 2 would sue you quite quickly...Those balances are high enough that they are not going to play around with it. Card 3 is unpredictable, it could be quickly, it might not be. Cards 4 and 5 would get sent to collections and you might not get sued for years.

I have no idea what your annual income is, or what your net worth is, but it would behoove you to consult with both a bankruptcy attorney and a creditor counselor to get the clearest possible picture of your options.

[elidoe]

These debts were racked up due to much depression and bills over the death of our last child. Not an excuse, but now I want to get things right.

Here is some more info:

Unsecured Loan: 21,000 - USAA
Card 1: $25,000 - CHASE
Card 2: $19,000 - DISCOVER
Card 3: $12,000 - DISCOVER
Card 4: $2,000 - CAPITAL ONE
Card 5: $1,200 - AMEX

I make roughly $74,000 a year and have a wife and daughter.

[llworking]

These debts were racked up due to much depression and bills over the death of our last child. Not an excuse, but now I want to get things right.

Here is some more info:

Unsecured Loan: 21,000 - USAA
Card 1: $25,000 - CHASE
Card 2: $19,000 - DISCOVER
Card 3: $12,000 - DISCOVER
Card 4: $2,000 - CAPITAL ONE
Card 5: $1,200 - AMEX

I make roughly $74,000 a year and have a wife and daughter.

Clearly your only option is bankruptcy.