objections

So if a creditor objects in a 7 what happens? Do you get dismissed?

So if a creditor objects in a 7 what happens? Do you get dismissed?

No. The creditors will usually offer you a deal and you take it or leave it. Just means you may have to pay part or all of the debt in question. It will usually be a payment plan. If you ignore it they might go away.

Nope.

Just that particular debt that that particular Creditor Objects to is set aside. The rest of your debts would be discharged as scheduled barring any other Objections from any other Creditors.

Remember that Creditors work Line of Credit by Line of Credit. They do not collude with one another to "get" a debtor.

And just because the Creditor Objects does not necessarily mean they'll win their arguement. You do get a Hearing.

The most important thing to remember,............ Objections are VERY rare.

Creditors attnys are paid on a %'age of recovery. Not by billable hour. So they aren't gonna jerk around very much or it won't be worth it.

Generally, a Creditor's attny would contact your attny with a veiled threat to Object. Your attny will rebuff them or suggest you settle.

There's only been a couple instances, here on the Forum, where people have even had to Settle with a Creditor. At that, you'd generally be able to pay the amount in payments over a period of time. 12-18 months possibly.

Thanks. I have a couple cards with Chase. Would it seem possible that they would all get together?

Thanks. I have a couple cards with Chase. Would it seem possible that they would all get together?

Well if it's a couple with chase, aren't they all one?

Well one is a Disney Chase, one is a regular Chase. Guess in the end they are all one.

One company but to separte Lines of Credit. They can't just bundle the 2 together and say "Oh! You've exceeded the limit."

There would have to be distinct problems with each CC for Chase to come after you in 2 separate actions.