Tons of debt but no BK

[joeygrant]

I know this guy doesn't have a job but has at least $300,000 in unsecured credit card debt. He bought a $350,000 house and it's been in preforeclosure since October of 2008. Right now I checked and it's no longer in preforeclosure. I checked his bankruptcy records and nothing shows up.

I was thinking about taking him to court a few months ago but didn't because I was under the impression that he was filing for BK and would include the debt he has with me in that BK.

I know for a fact he hired a BK lawyer in October of 2008 and he got a notice from the sheriff around that time.

My question is this. From the time you hire a BK when does the BK gets discharged?

Also when your house is in preforeclosure what is the time until they finally kicked you out?

It's either he won the lotto or he robbed a bank.

[keepmine]

Retaining a bk lawyer means nothing unless, you actually file.
States have different timelines and procedures dealing with foreclosure and eviction plus, some lenders are more aggressive than others. Just noway to say for sure how long before you get kicked to the curb.

[AngelinaCat]

Yes, keepmine is correct. He has to actually file BK. Then a notice titled 'A Suggestion of Bnakruptcy' goes out to all of his creditors that he has on his Creditor Matrix. If he lists you as a creditor, then you will be notified of everything that happens. If he doesn't list you, then that is a big no-no.

A notice of the date and time of the Meeting of Creditors (the 341) goes out to all the creditors. You can attend if you want to, but most do not. From that time you will have 60 days to Object to the Discharge of your particular debt--and you can file an Adversary Procedure, which is a lawsuit seperate from the BK, yet tied to it because of the debt owed to you. If you wait until day 61 to file an objection, then you will be out of luck. However, if your debtor is ruled an 'Asset Case', that 60 day period to object can bee lengthened.