This sounds a little tricky but it's not really. I am planning on filing bankruptcy in November as a result of a writ put on my bank account due to a credit card that wasn't paid off (and I was never served the papers for).
I currently live in PA but will be moving to NJ in October which is in my favor pertaining to the BK I learned. Also I am adopting my cousin's child who will be coming to live with me in Nov. I was told to wait until he is here to file because that will also help my case. My main concern is that I don't want it to go to a chap 13 BK.
Any advice on what I can do right now to help set myself up for making sure it becomes a Chapter 7 Bankruptcy would be appreciated. Thank you for your help. Any spam answers, pointless one word answers etc.. will be reported.
Thank you,
Mary
2006-09-03 16:04:15 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
First, have you taken an honest look at the owed amount and tried your darndest to live up to the responsibility of the amount you owe? Too many people today want to rush off and simply file for chapter 7 or 13 and wait the 7 years or so to start fresh and new. What about personal accountability to paying for what you spent?
If you have looked into the above, gone through financial counseling and have had it recommended that your only option is to file, why are you asking people on Yahoo Answers rather than talking to an attorney. Please, if you are making such a big decision, get an attorney and do what he suggests to protect yourself.
RR
2006-09-03 16:13:39 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Just curious....what other debts to you have? How much is this judgement for?
You should never consider bankruptcy if you only have a couple thousand in debts. The filing costs and required counseling are over $1000.
For now I will assume you have a lot of debts. When you get to NJ do not buy a home yet. Wait until after the BK is confirmed.
You really can't accidently file a chapter 13. You will first look at whether you qualify for a chapter 7 or not...if not then you file a chapter 13.
I strongly suggest that you do not attempt to file this on your own. Get a lawyer experienced in BK law to do it. If you file one form wrong, or make one error, the judge will dismiss the case. You will not be able to refile for a year, giving your creditors that much time to come after you.
http://bankruptcy.findlaw.com/new-bankruptcy-law/
2006-09-04 12:32:25 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Information on Chapter 7 Bankrupt
http://www.get-out-of-the-debt-trap.com/category/Information-on-Chapter-7-Bankrupt.html
Information on Chapter 13 Bankrupt
http://www.get-out-of-the-debt-trap.com/category/Information-on-Chapter-13-Bankrupt.html
2006-09-05 08:49:33 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Chapter 13 is when your debt is charged off by your creditors. Chapter 7 is reorganization. Which is best for you actually depends on the depth of your situation. This should be discussed with a professional to make sure you are choosing the best method for you. Chapter 7 enables you to set up a plan to begin to repay your debts.
2006-09-03 23:13:22 · answer #4 · answered by fiesty1 1 · 0⤊ 4⤋
All I had to do was tell my lawyer I wanted a 7 instead of a 13, It was that easy considering my finances.
2006-09-03 23:08:47 · answer #5 · answered by Amanda F 4 · 0⤊ 2⤋
Sounds like you're trying to scam us. All this depends on your finances, why don't you tell us that?
2006-09-03 23:11:25 · answer #6 · answered by snvffy 7 · 0⤊ 2⤋