After filing Chapter 7 or Chapter 13, is it most damaging to your credit in ways you cannot purchase a home or car, etc? 2 years? 5 years? For those who have filed bankruptcy, please help me understand better this choice. I am struggling and it is most difficult to do alone with no knowledge or examples.
I had a consultation with a lawyer and he told me that I would qualify for Chapter 7 bankruptcy. He also told me that he wants 00 in order to proceed. If I had 00 I would be paying off some of my debts. How can I go about filing Chapter 7 without a lawyer or by using the least amount of money possible? Thank you in advance for any advice.
I’m filing chapter 7 bankruptcy and the BK attorney tells me that my questionnaire looks good, and I pass the means test so things should go fairly smooth. A collection firm is presently suing me for credit card debt and I expect they will have a judgment soon. I’ve been told that my bankruptcy will "take care" of the judgment. But what exactly does "take care of" mean in this case? Does the bankruptcy simply relieve a need to pay on the judgment? Or does it also erase the existence of the judgment from my credit record? If not then can I take some follow up action to erase it myself?
I’m thinking about filing Chapter 7 but do not know if im eligible. Here’s my situation, I make 19k a year which is below the median; I have no property/assets or savings. I owe 23k on the car and 18k on 3 credit cards. If i sell the car I still owe 8k. I tried to negotiate with my car’s creditor and that’s the best rate they can do. The reason why I want to liquidate my debt is because I want to go back to school full-time. Save money and rebuild credit while in school. If i continue paying my debt ( 5 more years ) I will not have savings and an education. I don’t mean to be a deadbeat on my debts but this is the best solution i can do in order to straighten my life, financially and responsibly. I don’t want to do Chapter 13 for my credit card debts– this will waste my time, money and get a ruined credit report.
I’ll face the consequences: Attorney fees, bad record for 10 years, higher rates.. you name it.
My question is if i’m eligible to file for CHAPTER 7.
I’m considering filing Chapter 7
I want to know if there is anyway to keep the home even after filing chapter 7 bankruptcy. I want to know if there is any program that can assist me.
My pay was drastically cut, my child support will be ending within 6 mos and I owe back taxes on my house and Federal as well. I am thinking about filing Chapter 7 but not sure if I will end up having to get rid of things like furniture, car, etc…. Can someone help? Thanks!
I would like a more detailed listing of what my non-exempt assets are under the law when filing chapter 7? Are my pets non-exempt? What about clothing, food, appliances, etc? I am going grazy doing google and yahoo searches. Can anyone please help me find this list? Any serious help is much appreciated. Thanks.
I am filing Chapter 7. My personal account does not show much activity. My business account shows sales of roughly 20,000 monthly however when I pay off the company that finances my inventory ( I do not own my inventory) It shows a profit of around 00 per month. Even though my profit is below the median income, will the large deposits arouse suspision on the part of the court. The large deposits are followed by large payments to that company that owns my inventory.
Thanks to idenity theift i pulled my credit, i found alot more than i expected but as it turns out they do all pan out. I am thinking about filing chapter 7 bankruptcy but since my wife’s credit is good we dont want it to show on her file, heres the thing. We are young we have nothing in our name our house is owned by her parents our cars are paid off we have no loans or anything of that nature with both of our names on it I would be filing by myself with out her. All my bad credit is old starting when i was 18 and I want to get a fresh start and with all the old medical bills and things bankruptcy seems the best for our family. I’ve read alot on these sites saying your credit is there credit and when you are married there debt becomes yours, this isnt true my wife’s credit score is over 700 while mine is in the 500’s this is why i am asking i dont want it showing up on her file…. does anyone get what im trying to say???
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
I am filing Chapter 7. My personal account does not show much activity. My business account shows sales of roughly 20,000 monthly however when I pay off the company that finances my inventory ( I do not own my inventory) It shows a profit of around 00 per month. Even though my profit is below the median income, will the large deposits arouse suspision on the part of the court. The large deposits are followed by large payments to that company that owns my inventory.
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?
Last year at this time my credit score was 750, but over the past year I have had some financial crisis and am very deeply in debt. I talked with a lawyer today and I understand the difference between chapter 13, and 7. My question is, other than the obviouse destroying my credit, how will filing chapter 7 affect me? Will I ever get a credit card again? Will I lose my atm/debt card? Will I be able to rent a house or apt after my foreclosure? Please, anyone who has any experience with this, any info would help.
I have no income, between 20-25k in debt, and no assets other than my car that is falling apart. I feel that it will take me forever to pay off the debt once i start working again. Is filing chapter 7 bankruptcy right for me?
Do people actually max out credit cards before filing chapter 7 bankruptcy? If so, can they get caught? and how?
What are some of the new bankruptcy rules?
My mother and I both own a home (both of our names on the deed). I’m considering filing chapter 7 BK, and was wondering what will happen to this home we both own?
I (not my mother), have an equity loan on the home with a balance of k. The home is worth about k – k.
My question is, if I’m current on the payments when I file BK, can the home still be taken?
And if during and after the BK is discharged, and I’m still current on the payments, can the home be taken?
Thank you!
My husband and I are considering filing chapter 7 bankruptcy. We rent a mobile home and are making payments on another piece of property outside of town where we are in the process of building a house. We still owe ,000 on the purchase of the land (original price was ,000). The house is partially finished and we are doing the work ourselves (foundation and walls are up). Would we lose this property or would we be able to keep it?
I got two payday loans right before filing chapter 7 bankruptcy to help with the court chapter 7 filing fee. I filed Pro Se. The loans both totaled 0 dollars . Do I have to repay (or reaffirm )them since they were less than the 0.00? .Also taking the loans less than the 70 days of filing the bankruptcy . I did not know this before I filed . Only after doing research did I discover this.
When filing Chapter 7 bankruptcy, if you check that you are surrendering your home to the bank, can they come after you for whatever is still owed after the foreclosure and re-sale of your home? Or is any debt associated with that mortgage discharged?