Listing Creditors

I have just had my chp 7 court docs prepared by a professional petition preparer. I have four creditors that I wish to have debts discharged . I also had another creditor that offered a settlement of $206 on an approx. $1100 balance,which I accepted. Will I be in trouble for not including them even though they offered a settlement? Should I void the settlement and include them in my filing ? Any help would be appreciated. Thanks

A bankruptcy should be a reflection of your financial affairs. If a deal is struck with one of the creditors that should be noted. No reafirmation or continuing agreement with a creditor is valid without the Trustees signature when filing pro se.

If you decide to settle, be sure to get the settlement agreement in writing! Be sure the agreement articulates how doing so will reflect on your credit report! If the creditor will not "improve" your credit rating for a R9 to say a R5 you're better off just including them in your BK filing. Most creditors are reluctant to update individuals credit account scores after a settlement.

Good Luck! :)

I have just had my chp 7 court docs prepared by a professional petition preparer. I have four creditors that I wish to have debts discharged . I also had another creditor that offered a settlement of $206 on an approx. $1100 balance,which I accepted. Will I be in trouble for not including them even though they offered a settlement? Should I void the settlement and include them in my filing ? Any help would be appreciated. Thanks

I would include this creditor in your bankruptcy filing. Unless you've had an attorney examine the contract with the creditor to ensure that there is no way they will come after you, you will want to make sure the debt is charged off with your bankruptcy. Also, the bankruptcy paperwork requires you to list all current debts (that would include this one) and current income. You can voluntarily pay on any debts, within reason, as long as you haven't paid preferentially to one creditor over another.

For example, I continued to pay one car payment on the vehicle I was keeping and I continued to pay on one credit card (the minimum payment of $37 a month) through my credit union that did not have a clause where they would raise the interest rate for not paying other bills included in the bankruptcy.