My husband I are going to be in the process of filing chapter 7 tomorrow when I drop off our payment but had a question.. How will they tell which creditors to notify of us filing bankruptcy when we dont receive actual statements since most of our accounts were on paperless pay online type of things and when i log on they disable the accounts and ask to call them, and I cut up all the credit cards.. can they do a credit check and notify my creditors that way? I’ve never gone thru this before and curious how they would do that since we have sooo many creditors and hard to keep track of who we get statements from and who we dont thanks

Technorati Tags: credit cards, creditors, filing bankruptcy, filing chapter 7

I get letters from creditors offering to settle my debts for a lower amount. I owe about ,000. Some debts have been charged off and I don’t know who to contact now. Doesn’t it still hurt your credit to pay off the debts anyways? Isn’t Chapter 7 just easier? Please help from anyone who has gone through Chapter 7. Thanks!

Technorati Tags: chapter 7, creditors, debts

I am currently being sued in civil court, and have no money for an attorney, the case has gone on for a year now in federal court, and have basically lost my business because of all the time I’ve put into defending myself from something I did not do, and am being "lawyered" to death by 6 lawyers. Because of all this, even if I "would easily win" if I could afford an attorney, I will have to file bankruptcy (chapter 7 for me).

Therefore, relating to an ONGOING CIVIL case and a need to file BANKRUPTCY, here’s my QUESTIONS if you would please use the same numbering system to answer them so I can keep track (thanks thanks thanks):

I would LOVE it if filing the bankruptcy would END the case so I could go on with my life, find another job, build another company etc. I read a lot of yahoo answers and one said “If they haven’t gotten judgment against you … then your bankruptcy filing can and will stop the case.”, but I need to be sure.

1) is there any ADVANTAGE to me in filing bankruptcy BEFORE the judgment (now is preferred so that I can go on with my life which has been destroyed)?…. and what will opposition do if they know I’ve filed for bankruptcy? Will they attempt to continue the case when they know the bankruptcy will go thru? If so, why would they continue the case?

2) Since I’m going to be filing In advance" of the judgement, can I "claim" the "injuries" they haven’t yet enumerated " …on my petition for bankruptcy? …or do I just “list the case” and say “amount pending”? THANKS.

I know about the "automatic stay" (keeps creditors (I currently have NONE and a perfect credit score I’ve worked hard to build all my life) from coming after you etc).

3) After I file for bankruptcy (I know it takes so many months to go thru), these additional related questions, thanks:

3a) what happens to the current civil case?
3b) what do i tell the judge? Do i have to tell the judge or just inform the other side?
3c) will i still have to finish the case (expected one more year of my life)?
3d) if we’re currently in discovery, will it / can it stop discovery / subpoenas etc?
3e) ….or…does it just “suspend” the case until the b/k procedings are over? …or does the case just continue on in real-time?

Thanks so much for answering all of these "sub-parts" to my ‘compound" question. They’re really important to my life and my families lives.
Ryan K,

That was totally useless. I can’t believe you actually answered 195 other people. You’re a joke.

Technorati Tags: 3b, bankruptcy chapter 7, bankruptcy filing, civil case, civil court, credit score, creditors, filing bankruptcy, job, judgement, judgment against, lawyers, money, numbering system, opposition, petition, yahoo, yahoo answers

It seems unfair when a company files chapter 11 they only have to pay back a portion of what they owe to creditors. is this true and how many time can you file bankruptcy until they say you can’t?

Technorati Tags: bankruptcy, chapter 11, company files, creditors

Me and my husband are wanting to file bankruptcy. He is in the military and we have a lot of "allotments" (where money comes out of his paycheck automatically before we see it to creditors) How long will it take after we file bankruptcy until we are no longer obligated to make payments to these creditors or when can we stop the allotments? Does it happen as soon as you file or what?
Also, Does filing bankruptcy effect you being able to rent a house/apartment?
Thanks!

Technorati Tags: allotments, apartment, creditors, filing bankruptcy, money, paycheck

I want to file bankruptcy because i am in a lot of debt. I have heard that i can only make 36 a month before taxes. If i make more up to 75% can go to creditors. I just wanted to know how long this lasts. I dont want to be paying this for years to come. Would appreciate an answer from somebody who knows the facts or someone who has been in the same situation.

Technorati Tags: bankruptcy, creditors

Bailout isn’t going to happen…
and the more I think about it the worse the bailout idea gets

from link:

Reorganization Under the Bankruptcy Code

The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)

http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter11.html

That is the way it’s done when company can no longer compete…for whatever reasons…isn’t it?

Technorati Tags: bailout, bankruptcy code, bankruptcycourts, chapter 11, chapter11, creditors, debtor, partnership, plan of reorganization, uscourts gov

I am currently in the process of filing for chapter 7 bankruptcy. I have not yet had the meeting of the creditors. At the same time I am in desparate need of a new car. I spoke with my attorneys office and they told me to apply for financing before filing for bankruptcy. I have read online that the car could be taken away. I am seeking some guidance on how to go about this. I know that once the bankruptcy is filed my credit score will drop so badly that I probably will not be able to get a car loan, however on the other hand I am also afraid that once I file bankruptcy the bank will take away the new car.

Technorati Tags: attorneys office, car loan, chapter 7 bankruptcy, credit score, creditors, filing for bankruptcy, guidance, new car

I lost my job in early September and have run into some serious financial problems. I have a part time job and I should be receiving unemployment but they denied me at first and I have to wait for a hearing to appeal that decision, and they are super backed up and I will not even find out when my hearing is for another four weeks. I took out a distribution from my 401k, went through that, and they are taking their sweet time getting another distribution sent out to me. None of my accounts have been sent to collections yet, but they are almost there. I am considering bankruptcy or using one of those companies that negotiates better interest rates with my creditors and gets them to reduce my debt by up to 40%. I want to know which route I will recover from quicker. I eventually want to buy a house, take out student loans, etc. I keep hearing that bankruptcy is not as bad as it has been made out to be, and I have heard nothing about how debt settlement programs effect your credit. Does anyone have any advice?

Technorati Tags: 401k, bankruptcy, collections, creditors, debt settlement programs, early september, interest rates, part time job, student loans, sweet time, unemployment

I have ,000 credit card debt and i get lot of calls from collection agencies but i never pick up the phone and ignore the answering machine. I also ignore letters from creditors.

I will be filing chapter 7 bankruptcy within one week. Someone told me that if you ignore collection calls and letters, then they automatically pull the money out of your bank account.

So i withdrew all the money i had in my bank and keep cash at home. Am I over-reacting or do they really pull money out of your account electronically if you ignore their calls?

Technorati Tags: answering machine, chapter 7 bankruptcy, collection agencies, credit card debt, creditors, filing chapter 7, filing chapter 7 bankruptcy, money

I am 40,000.00 in debt and theres no way i can pay my creditors. I want to file bankruptcy before the end of the year.

Technorati Tags: bankruptcy, creditors

Hey.. I was unemployed for 8 months and got very behind on all my bills, credit cards, loans.. etc..
I have collection agencies and debt collectors calling me at least 15-20 times a day trying to get there money (everyday all day).. I am about to file bankruptcy to get out of this mess.. I tried debt consolidation, its a joke.. My question Is when the creditors call me should I tell them im in the process of filing bankrptcy OR WILL THAT CREATE MORE PROBLEMS , SUCH AS WAGE GARNISHMENT OR SUEING ME ….

Technorati Tags: bankruptcy, collection agencies, credit cards, creditors, debt collectors, debt consolidation, everyday all day, joke, loans, money, wage garnishment

I am working on paperwork to filing bankruptcy. My attorney wants me to list all my creditors. Thing is, most of them were charged off three years ago and now belong to collection agencies. If I list my original creditors in the bankruptcy, will the collection agencies still have the debt, and will they be able to harass me? That is to say, will the debt really be gone?

Technorati Tags: collection agencies, creditors, filing bankruptcy, paperwork

I have not filled yet, but with the creditors on a daily call me schedule. What should I say to delay them. I have not told any of them I was going to file. Only that I have hard times dues to my unemployment in Dec 08. I have no money to make payments to them.

Technorati Tags: creditors, money, unemployment

My husband and I have just lost our jobs and we own 3 properties that are not worth what is owed on them. We have great credit scores but cannot get the banks to talk to us about alternatives to keeping the properties at a reduced payment or sellling on short sale. We have to ruin our credit first and then they might talk to us… We have have the properties on the market but cannot sell without going to the table with large amounts of cash.
If these properties foreclose or we go into bankruptcy.. Can the creditors attach or take our retirement savings to satisfy debt?
thanks for your help..

Technorati Tags: bankruptcy, banks, credit scores, creditors, foreclose, jobs, retirement savings, thanks for your help

I filed BK 13 a little over two years ago. A couple of months back I learned that one of the creditors added in Schedule B is reporting the debt as a collection on the credit report. I later received a letter from a collection firm representing said creditor. I took the letter to my attorney who said "okay we’ll sue". The paralegal said that I’ll be their guinea pig since they’ve never sued anyone. Since then, my attorney is not responding to questions that I have i.e. what are we sueing for, what are the steps taken, who pays for this etc..ANY QUESTION really. I have no clue what they are doing and am being blown off by the attorney and the paralegal both who were very nice up until that point. Also, my attorney put the wrong dollar amount on the schedule B as debt for that creditor but I’m being told the amount doesn’t matter as long as the creditor is included in the BK 13 they are going to be discharged (so the amount wasn’t changed). I am concerned that after the 13 has been discharged the creditor will come after me because of my attorney’s inability or unwillingness to take care of business. Any calls or emails are being ignored. I did receive one call from one of my attorney’s employees who stated that he is filing the claim (1 1/2 weeks ago) but my question whether or not I will receive anything on paper telling me what is being done etc remained unanswered. Basically, I don’t know anything, I don’t know what to look for and/ or what to expect. What should I do ?

Technorati Tags: bk, clue, creditor, creditors, guinea pig, paralegal

My husband received a bill the other day in the mail for 2 hospital bills from 2002 and 2003. They were before our bankruptcy and we didn’t file these as main creditors on our bankruptcy. Can they legally try to collect on these two things or are all things covered once our bankruptcy was filed? Thanks for any info.

Technorati Tags: bankruptcy, creditors, hospital bills, mail

I filed a chapter 13 bankruptcy but havent been to the creditors meeting yet. I already signed all the papers and was sent a letter on how much they are going to be taking from each of my husbands pay checks. I just got a call this morning for a job interview and got the job will this affect my bankruptcy at all since I already had a set amount I would be paying?

Technorati Tags: chapter 13 bankruptcy, checks, creditors, job interview

With creditors still calling what can I do till I am able to pay the full amount needed for filing & attorney fees?

Technorati Tags: amp, attorney fees, creditors

Last year my husband and I lost a home we purchased about 3 years ago. This house was to be an investment. We remodled the entire house and completed just as the market crashed. This past March the house was foreclosed on after being on the market as as short sale for 2 years. We want to file bankruptcy because this ruined our finances. We still have our home we live in but we now have 2 creditors suing us. How do we file for bankruptcy and include the taxes we will probably be charged for the house we lost in March 2010?

Technorati Tags: 3 years, bankruptcy, creditors, short sale