Posted on March 18, 2008 at 9:47 am Re-phrasing my earlier inquiry. If my accounts started going into past due status last July how long typically does it take credit card companies or collectors to pursue legal action ? Since July I have only made minimal good faith payments along with frequent written updates on my current economic situation which generally get no reply. I have contacted " In Charge" and " Care One" who won't do anything until I have some positive cash flow in my household. I have submitted my income and monthly budget to creditors and continue to recieve regular monthly bills from them but I am also getting collection notices and phone calls from collectors. The credit card companies have never officialy informed me that they turned my accounts over to collections. Before I rush off to declare bankruptcy I wanted to see if anyone here has an idea of how the process goes. I'd prefer to rectify this matter other ways but until my wife finds work I'm stuck. Any advice ? If I do get one of these companies working for me I am still hearing stories of people being served with legal actions. What is my best option and what should I expect based on peoples experiences?

Posted on March 19, 2009 at 2:34 pm It usually depends on the Collection agnecy and the original creditor.  Some may never pursue court while others may.  If you have a large balance due and you have some assets, they are more likely to pursue this.