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Bankruptcy Law/Debt in Collections

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Question
I have credit cards in collections, fall off dates are Fall of 2014 according to my recent credit reports.         I was denied an apartment because of these collections.       It was suggested to me to file bankruptcy , but I feel I should wait it out.   I have been contacted sporadically over the past few years  but no hard core letters or even phone calls,...
Wouldn't it make better sense to wait another year and 1/2 then to file bankruptcy?      I am on SSI only ...and receive $710.00 a month,and food stamps... no extra help, cash or otherwise. From my understanding the SOL has expired on my 6 year old debts, so I can not be brought to court ?    Is that correct? So what other way do they attempt to collect?  The tricky way? By calling you and somehow you inadvertently acknowledge the debt and agree to a payment and the 7 years start over, is that the only way they can still collect/    They cant bring me to court after 6 years, when SOL in NH is 3 years for my type of debt.   I think I have actually asked a few questions in this jumble of words, most importantly would be  : Bankruptcy vs waiting for the Fall Off in 2014.

Answer
If SOL in NH is 3 years on credit cards (I'm not a NH attorney, so I do not know the SOL in that state), then basically you cannot be sued successfully.  If they did sue, you would have to answer and assert the statute of limitations, however.  Yes, if you made an agreement to pay and started to pay, the SOL would start over.  But if you do nothing, that should be the end of it.

The "fall off dates" on your credit report has nothing to do with the ability of the creditor to collect, and it would be pointless to file a bankruptcy relative to the credit reports.

Furthermore, since you have so little income, I don't think that the creditor would get much out of you even if it received a judgment.  

Even if the SOL limit had not passed, I would normally suggest that you wait until anyone tries to sue before filing a bankruptcy.

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Volunteer


Michael T. Hertz

Expertise

I am already listed as a volunteer under "Collections Law," but actually I am a bankruptcy lawyer. I am a member of bar in California and in Massachusetts and have practiced in bankruptcy since 1978 and have also taught bankruptcy law at the law school level (in Maine and Oregon). I can answers questions with respect to all bankruptcy chapters, having represented creditors, debtors, trustees, creditors committees, and persons involved in defending actions in bankruptcy court.

Experience

See above. Basically, 33 years of experience.

Organizations
inactive member of State Bar of California; inactive member of bar in Massachusetts; former member of bar in Maine; former conseil juridique in France.

Publications
California Bankruptcy Law Review; Georgetown Law Journal; numerous others. See my resume.

Education/Credentials
Harvard Law School, J.D.; Pomona College, B.A.

Awards and Honors
Superlawyer in Northern California, 2005 and 2006

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