I've been reading in some posts that under the new law, that if you file BK again that you may be required to pay back debts from the first BK that were discharged. I always thought discharged means case closed and in the past.Anyone heard anything about this provision?
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I saw a post that discussed opening lines of credit with a creditor that you previously filed bk on and to beware of the fine print on their agreement and by signing the agreement you make your debt retroactive from the previous bk.
Watch out for the extra fine print!
If that is true look out.Stop the National Arbitration Forum! 99% of Hearings in Favor Against YOU!
Avoid Agreements with Mandatory Arbitration Clauses.
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Emergency Filing 1/20/06
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A debt that is discharged remains so. StopNAF is right though-word is that some creditors are offering new accounts where the fine print has you agreeing to put an amount equivalent to your old debt on it in order to get the account.
The only thing I can think of to meet the circumstances you described-
If you file BK and have recent large purchases, cash advances, etc., then part of those amounts might not be discharged. You'd have to pay them back. If something like that happens, then those debts would also NOT be dischargeable in a future BK.
Its no so much an issue now-the time between bankruptcies is longer. If you file ch. 7 and are discharged, you can't do it again for 8 years. You can't file a ch. 13 for 4 years. (Used to be you could do 7 and then immediately 13.)Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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in one of the articles i recently posted they talked about this exact same topic. never heard it before. and i get the feeling its not what we think it is. i think its wording in the bk law and not in the fine print.
this is something to be concerned about.
besides, how can i plan my next bankruptcy if i dont understand the rules
Last edited by bkfiler; 12-13-2005, 11:07 AM.Im not an attorney or a trustee. You cant trust me either though!
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BKfiler,
I'm only doing this "bankruptcy thing" ONE TIME IN MY LIFETIME - HOPEFULLY...............
This 1st time was HARD ENOUGH, AND COMPLICATED ENOUGH FOR ME.........
BUT I SURVIVED..........Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
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