Ready for CP ! Stopped paying creditors this month - Worried!

New to this site, love it, nice to see we are not alone!
My wife and myself have been making minimum payments for 10 years! We have seen the light,
everything is ready for our CP which we will file within the next month or so.
Worried about not paying the minimums to our creditors-we have never missed a payment- ever!
How soon should we file?
How bad do the phone calls get?
Thanks

Really glad you are going to do this. My question would be...Have you met with a trustee yet? If not, do so right away. The sooner you do, the sooner it will be done and you can get on with your life....not worrying about bills and money. Trust your trustee, he/she is in it to be paid as well, so anything they suggest will make the CP go smoother. Good luck!

Hi and welcome to the site!

I agree with DumDum - see a trustee ASAP. There is no need to miss payments before you arrange for a CP. We arranged ours while all our accounts were still in good standing, and then stopped making payments once we arranged with the trustee to draw up the CP paperwork. I think we were only called by three of our eight creditors once they noticed a missed payment. By that time the proposal had been filed and were were able to give them the file number and trustee's name. They were very polite and some of them even cheerful about it!

Glad you are ready to take this step. The worst is over.

Best wishes,
~Wendy

Yeah Sorry! I didn't provide enough info (too nervous)!! We have seen a trustee- he suggested that we stop paying creditors - take a couple of months to catch up/ get ahead with some savings(if we can live through the phone calls).
I was just wondering how long people had waited. I think treefrog has the right idea - I might book our filing sooner!
Thanks for the warm welcome. I'll keep in touch!!

Hi GoodGuy,
Just a word of caution...Make sure you are dealing with an actual bankruptcy trustee and not a debt consolidation company that you have to pay and then sends you to a trustee. Check their credentials and if necessary use this website to find one near you. Never hurts to get a second opinion.

We had met the trustee for the first time in april and file the end of june.  Had to change banks and all automatic withdrawals, and I wanted to make sure that all withdrawals had stopped at the other abanks before I filed.  As soon as we met with the trustee and made the decision that we were filling, we stopped making payments. We savecd some money (in an enveloppes niot at the bank).  The called strated within three weeks and I just told them that we had met with the trustee and we would be filling a proposal within the next months, and to my surprise most iof them wish me luck and were undestanding.

If catching up was with utility then this might be a good idea to ge these paid before you file.

Good luck and the sooner you sign, the sooner you and your wife can thing about enjoying life and not to worry about $$