Decided on Bankruptcy, couple of questions.....

[bankruptsaluki]

Hello,

First off, I would like to thank everyone in advance for their help. I have read the forum for the last couple of hours and it seems you have some real intelligent people on here. I have recently decided to go through with bankruptcy. Fact is that I can not pay these cards off within 3-5 years so it makes financial sense to file Chapter 7 IMO.....So to start off, I have had a phone interview with a attorney's office yesterday, decided today to go ahead and meet with the actual attorney this weekend. I was reviewing my credit report today and I noticed a collection law firm has recently checked my credit as of this week.....

My question is that if they receive a judgement before I file for bankruptcy, what happens? Are judgements covered in bankruptcy? The other thing I am worried about is the since the above law firm is located in my area, they might show up for the 341 meeting.....What happens if a creditor does show up to the 341? I have tried researching it on the net and it says that it rarely happens, but with them being so close, I think it would be possible.

Thanks again for anyone's help, appreciate it greatly and looking forward to finally starting to live my life.

Bankruptsaluki

[LinSC]

BK should handle any judgments as long as they are included in your filing. Just be sure when you complete your creditor listing for the attorney that you include any and all creditors that show up on your credit report. I also included the collection law firms and agencies that had sent me letters regardless of the fact that they weren't listed on my credit reports.

You typically have some time before a judgment and the collection law firm would have to serve you notice of the court hearing. If you're meeting with your attorney this weekend, you should be ok as long as you don't delay too long before actually filing. By filing the BK you will stop their actions and they can't file a judgment against you.

So what if they come to your 341 meeting? Your attorney will be there too. It's really nothing to sweat over. Good luck!

[bankruptsaluki]

Thank you

very much for your response, appreciate it greatly. I will definetly become part of this board for the next couple years and post details about my adventure

[CRRAVOSA]

Dont' Worry

Don't worry about a judgment the only time to worry is when a capias is issued and this usally takes a considerable amount of time at lease in Massachusetts. Many people do not even show up for their hearings and are defaulted and the creditor is given a judgment, you still have time to show up and say I am filing Bankruptcy. Capias are usually issued for those who do the no show thing for the entire duration of the suit. Once your petition is filed you have protection from said judgment thru the automatic stay and any garnishments cease upon filing. Not all judgments go away i.e. income taxes/liens and attachments to property are more complex and you should seek the adivce of your attorney. As far as credit listings make sure to get all three credit reports and list any and all creditors who you owe no matter no small hospital bills, doctor bills, book clubs, music clubs. Talk to your attorney if you list utility bills as a deposit may be required if you list on your bk. Don't worry so much about the creditor, most do not show up unless you owe big money or there is potenital fraud issue i.e. recent large cash advances. Goodl luck

[bankruptsaluki]

thank you very much for this, appreciate it greatly. I am almost willing to do anything to qualify for Chapter 7 and get this over with. I will know more this weekend and definetely keep the board updated so hopefully I can put others are ease with my story....