Chapter 7: Could it go this way?

[JayGZ]

I'm still trying to understand how it all goes....
Let's say I am able to file a chapter 7. I get the paperwork together, take a couple of months to pay the legal fees, and then it's filed.

All my credit cards are then cancelled. I'm assuming gas cards, too.
Or at least I have to stop using them.

But then I have more money in my paychecks because I'm not paying to credit card companies anymore. I could put those funds in my checking or savings account, right? Or I do I need to basically spend anything extra so it's not a liability for me in the 341 or just after.

Once filed, the credit cards and other creditors can't contact me or come after me, correct?

The 341 meeting will be the meeting where the trustee asks a few questions and unless my case is unusual, the meeting should be a formality.

And then 60 days after that, the debt is discharged.

Does it basically work that way?

[StopNAF]

Stop using your Credit Cards Before you File!

I would suggest you talk to an attorney.

There is a 90 day period in which you can't use your credit cards before filing.

As far as the extra money goes from not paying creditors, you need to be careful what you spend that money on. I suggest using that money for an attorney.

[MRDEBTSTER]

You've basically have it Jay.

[StaciMM]

Yes-you have the right idea, except for one part... If you are able to file ch. 7, then its because that you don't have $$ available to pay to creditors. If your budget shows $100 or more, then a ch. 13 is for you.

Ch. 7 is available for people who truly don't have extra money. On the bright side, if your income improves after filing-that is generally not an issue.

[StaciMM]

PS-you'll lose all your credit accounts in bankruptcy. You must list any creditor that has a balance owed, and chances are, any that have $0 balance will close your accounts also.

[JayGZ]

From what I've read, the expenses I've calculated and such, I think I would fit in a chapter 7. I suppose I have to confirm through the b22 form or whatever it's called that my expenses do line up with IRS guidelines.

[StaciMM]

Your main trouble w/ ch. 7 will be if your income is too far over the median. From what you posted before, you have a higher than median income based on your household hold size and with the new laws, that will gain some attention. Having a high student loan payment coming up in the near future, and high child support, will help you.

[Lightning]

Your child support is not high.

Your student loan amount is not huge.

Time to grow up and pay back what you borrowed. There's no way you'll qualify for a Chapter 7. And you expressed your extreme distaste for a Chapter 13. Suck it up and pay the money back. You can either do it your way or the government's way.

You don't get to make that much money and claim to be destitute with such a pittance of debt.

Read a few posts here and learn what real poverty is. Some people here manage to support a family of 4 on half of what you earn. Your whining, sniveling, and complaining attitude will harm your daughter far more than your lack of a college savings account for her.

[MRDEBTSTER]

Once again....his input is unsolicited and uncouth. Time for you to crawl back under your rock.

[GoingDown]

Once again....his input is unsolicited and uncouth. Time for you to crawl back under your rock.

Although he/she denies it, he must be a collection agent, or work for a credit card company, or perhaps is related somehow to someone who does. No one else would have that kind of mean spirited perspective. My guess is that he is a collection agent. He sounds like the kinds of collection agents that call me on regular basis. Instead of being afraid of answering the phone, I just pick it up and use non-threatening insults on them until they hang up. It gives me a great outlet for my anger and frustrations each day without having to worry about hurting someone's feelings, because in my opinion, anyone who works for a collection agency is a horrible persons and deserves to be insulted anyways.

[StaciMM]

Maybe he works for the US Trustee's office?

[GoingDown]

Maybe he works for the US Trustee's office?

Oh, are they mean, too?

[FoolAndHisMoney]

Maybe he works for the US Trustee's office?

I doubt it. The US Trustee program wouldn't exist if it weren't for bankruptcy filers. They don't mind the bankruptcy filings unlike the "loser".

[Pinktiger]

Your whining, sniveling, and complaining attitude will harm your daughter far more than your lack of a college savings account for her.

Oh, Boy, here we go again. Lightning, you are a piece of work for real. I can tell you from my own experience with bankruptcy, that nobody would choose to go through this if they didn't have to. This is about the most depressing, humbling, and degrading situation a person ever goes through - it's worse than divorce and it's worse than being fired. And it never seems to end. I filed in August, and my trustee filed last week for an extension to February 6 to object; and there is really nothing for him to object to; he is just doing this for spite because he can't find any assets. There are times when this ordeal is more than a person can take; why would one go through this if they could pay the debts? They wouldn't. So Lightning, do me a favor: either declare yourself a fellow bankruptcy filer or get the hell out of my face and everybody else's face. Go crawl or slink under some rock somewhere and shut the F**K up.