One of the last questions I always seem to get at my first consultations with any prospective client is, “What do I tell my creditors?”
Most of my clients don’t retain me at their first consultation. In fact, our policy is to not enter into a retainer agreement until after that first consultation so that potential clients can decide if bankruptcy is their best option and whether we are the best law firm for them. We don’t want them to feel pressured into making a very difficult and personal decision. Also, it may take time for someone to come up with the attorney and court fees for filing bankruptcy.
What that means is that it could take some time between when someone meets with me for the first time and when we file their bankruptcy petition. If you’ve stopped paying your credit cards, you’ve probably already started getting phone calls from insistent debt collectors. When I was representing creditors, I can’t tell you how often someone would tell me that they were considering filing bankruptcy or had talked to a bankruptcy lawyer. Until they actually filed bankruptcy, I had to pursue my client’s claim against them. The lawsuit was going to move forward until I got the notice of their bankruptcy filing.
If you’re answering their phone calls, keep in mind that you are under no obligation to do so. Unless you’re prepared to set up a repayment plan, I’m not sure there is any real reason to talk to them. Not talking to them won’t affect your legal rights, and unless you plan on paying them back, talking to them will do about as much good as banging your head against the wall.
Keep in mind, though, that whether you do or don’t talk to your creditors, they can and will pursue legal action if you aren’t paying your debt. Only paying the debt or filing bankruptcy will get them to stop.
If you’re struggling to make ends meet and have questions about whether bankruptcy is your best option, consider scheduling a free consultation with a bankruptcy attorney today. You’re under no obligation to retain us and an attorney can give you straight forward information about how bankruptcy will affect you and answer all of your questions.