My sister wants to file Chapter 13 because she's already done a Ch. 7. She has NO secured debt.?

Question

Is this even a wise thing for her to do? What happens to unsecured debt when you file a Chapter 13?

Answer 1

For starters, she can't file another bankruptcy for a few years after her Chapter 7 when through....there is a waiting period.

Chapter 13's make you pay back a portion of your unsecured debt. The amount is based on your income, and how much "disposable" income she has.

We don't have enough information to recommend anything at this point. Unless she has a huge amount of debt I wouldn't consider it yet.

Answer 2

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Answer 3

Information on Chapter 13 Bankrupt

Many a times you read about notices issued to the public, informing them about the bankruptcy of a certain organization or company. The intention behind making this public announcement is not to deepen the sense of shame of the person or the company, but is simply a legal obligation.

Anybody, whether a company or an individual can go bankrupt. This happens when the bankrupt person or organization cannot ............

Answer 4

that depends on the debt amount
does she own a home ?
What is her income ?
if she does own a home and if over 75k in debt that would be wise to file Chpter 13

many of those credit cards are negotiable on the debt
TRUST ME this is what you do
if the payments are late as hell ...90-120+ days
and the amount is lets say 10k
you send a check w/the memo stating payment to settle acct balnce on acct number XXXX and if they cash they check that is a legally binding contract that a court would acknowledge and you also do this at the end of the month when they get desperate

Answer 5

After the change in 2005 to the bankruptcy law, she is going to have to first go through credit counseling. It sounds like she really needs this.

Answer 6

I am in the mortgage business and send all my clients with
Credit problems to this company, they really do a good job making
Bad things on your credit report go away.

http://www.lexingtonlaw.com/Home.php?tid=662.0.5859');

Hope it helps!

Answer 7

any lawyer will recommend filing a BK. Lawyers aren't looking out for you, they look out for their money.
search the net to make sure, there no professionals on this board.

Answer 8

She needs to ask her lawyer from before about all of this because bank rupt laws changed last year.

Answer 9

Huh? I don't get what your asking.