How long should I wait?????

[mrbreeze]

Hi All. I have finally decided that BK7 is my only choice.....I have about 80K unsecured CC debt and am currently behind by a month on a few cards and two months on others. My question is, should I file right now or wait.....I have heard in some circles to wait until they threaten suit and then file, but others have said....do it now before it get's REAL bad.....any insight from any of you would be helpful. Thanks.

[kb9tbq]

You are this close out of being delinquent then you want to move just as fast as possible, to file before the status of the accounts go into further delinquency and hurt your scores, you will be able to recoup faster then most this way,

The advice for holding off, is like if you are 4 or 5 years out from none payment to the creditors, then you wait it out, to see if you can get the rest of the way out of SOL (statute of limitations) legal obligation to be sued in court.

So in your case knowing that you need to file bankruptcy anyway - then you want to move just as fast as you can & get it over with. Will be better for you later on rebuilding.