Home     Law Advice     Insurance Advice     Community    
Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Consumer Bankruptcy
Reload this Page Selectively PayOff smaller (DISCOVER CC) debt before filing?

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 07-26-2005, 09:22 PM
Member
  
Join Date: May 2005
Location: socal
Posts: 49
Question

Selectively PayOff smaller (DISCOVER CC) debt before filing?

What is the name of your state? CA
Thought I'd check before spending the very last of my cash & still have enough for an atty. (as I have no paycheck coming in... I'm freelance until I find FT Job)
Q: Wanted to know if I should PayOff this CC? Or would this create more problems? I've heard from Ladynred DISCOVER sues, that's why I'm considering @ least ending it w/ them now.
( a bit of the history)
I received three letters, First was one w/ a FREE long dis. PHONE CARD stating that they would settle my acct. for 40% of what I owed (but I had no $) so I could not meet their 5/20/06 deadline... Second letter stated if I did not call them they may secure LEGAL REP. to collect if I did not contact them.

Today I recieved the Third letter from Discover. This one is a low quality zerox-type letter from a "Law Office" in a neighboring city... this one is for collections & slightly threatening further Legal Action if nothing is done within 30 days...

Q: Was thinking of trying to settle/pay. See if I could pay the orig. offer of 40% of OD which was offered**************... not even sure if they would now. Is this alright?

Thanks for any feedback or input.
Last edited by i'llBEback; 07-26-2005 at 09:31 PM.
  #2  
Old 07-26-2005, 09:50 PM
Senior Member
  
Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
Nope. Any payment you make to ANY creditor of $600 or more within the 90 days before filing would be considered PREFERENTIAL and the Trustee could demand that money be returned.
__________________
"Knowledge is Power - use it as you see fit !

I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
  #3  
Old 07-28-2005, 02:12 PM
Member
  
Join Date: May 2005
Location: socal
Posts: 49
Exclamation

Ladynred ~ "nope" means NO... so...

Don't pay Discover anything. Alright. WOW 90 DAYS! (BTW: just got a call on the phone re: a "deal" that would save me $2k (on $4.5k OD) if I called them back. Guess they know I have zero assets & NO income anymore).

So I'll have to beat them to the punch then, as I'd like to avoid any judgements before filing CH7.

Do you know if Discover usually serves a summons? REALLY serves a summons... & not just say they did so I would be likely to "not show" & LOSE. Also, If a Summons is served, can I FREEZE everything by Filing?

I ask this as I'm trying to find an atty etc. (need a bit more time).

I know this may seem lame, but I'm waiting to file until the very last moment. Zero $ in my bank acct & no real paycheck currently so I'm not worried of a frozen account etc...
Also, are there any final "indicators" of a REAL SUIT?

Thank You for you help.
  #4  
Old 07-28-2005, 04:11 PM
Senior Member
  
Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
Yes, Discover REALLY serves a summons, they don't fool around.

Don't want until the very last minute, you may miss the deadline. Lawyers are swamped now, I wouldn't wait much beyond 9/15, if that, 9/1 would be safer.
__________________
"Knowledge is Power - use it as you see fit !

I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
  #5  
Old 07-28-2005, 07:02 PM
Member
  
Join Date: May 2005
Location: socal
Posts: 49

Thx Lady... I will file before end of Aug.

Guess my BK will just become a bit more complicated if I get served. I'll suck it up...

Do all proceedings including "Court Dates" get frozen once BK papers are filed? (even when not an Emergency Filing).

~ Cheers
Last edited by i'llBEback; 07-28-2005 at 07:07 PM.
  #6  
Old 07-28-2005, 07:04 PM
Senior Member
  
Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
Once you file for BK and get that case number, ALL collection activity MUST STOP, including lawsuits.
__________________
"Knowledge is Power - use it as you see fit !

I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
  #7  
Old 07-28-2005, 07:09 PM
Member
  
Join Date: May 2005
Location: socal
Posts: 49
Wink
**************.....Nice...
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 09:02 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.