Legal Question in Credit and Debt Law in Florida

Re: process of past due debt

In my experience it usually takes over 60 days for the credit card companies to send accounts to outside debt collectors. On average 60 days is minimum more like 90 to 120. However, with the number of accounts going into default this is going to change as the credit card companies take more losses.

Typically the inhouse debt collectors don't put on the full court press like the outside debt collectors. You may have betwen 60 and 120 days before the harrassing phone calls begin. Again, as the credit card companies start having more defaults to deal with this will change.

The real question for you to consider is what is the best course of action in your situation? Have you attempted to contact each of your credit card companies and negotiate a lower interest rate? There are some things you may be able to do to reduce the stress of your situation and prepare to file for bankruptcy. If you would like to discuss your situation further, please feel free to contact me.