I am in the navy and am filing for ch 7 hopefully. I have a navy federal account with a past due 3800 loan a truck that I owe 25000 which hasn't been payed for over a year but I still got it, 8000 dollar hsbc loan past due, and 2000 dollar payday loan in good standing. If I file ch7 or am qualified to does all this get put on it and they get discharged from my credit report? I'm just wondering what a knowledgable person would do . Also my wife will be filing also if that's possible. Please help.
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What happened...one day did you just decide to stop paying your bills
But yes, EVERYTHING gets included in the BK. Everyone you owe money too gets included in your BK. However, with secured debt, if you go into a chapter 7 behind on payments (like a car loan), the lender will repo the car/truck.
Note, this stuff DOES not come off your credit report as a result of BK. All that happens on the credit report is the balance due is reduced to zero, and a notation of IIB (included in bankruptcy) is added. But the accounts stay on your credit report. -
filing ?
thank you and with tha will navy federal credit union which I am a member to drop me as a client or will they let me reamain with them or should I just go with someone else and start fresh?Comment
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I can tell you that they will not allow you ANY services if there has been a loss due to bankruptcy. That includes savings/checking accounts. They will also cross-collateralize any accounts you have there, so you would be well advised to withdraw all of your funds before filing, including any of your childrens savings accounts that you are joint owner on. They will freeze your funds as soon as you file.04/03/2008- Filed for BK CH7-Middle District of FL
04/04/2008- Found out I have the more "laid back" trustee- the other one is a real bear, I hear. Yay!
05/06/2008- 341 meeting held
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I would look for another bank or credit union before you file.Originally posted by Cm644 View PostComment
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