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Chapter 7??

Has anyone here file a chapter 7 and how long from meeting with a lawyer was it finalized and you became debt free?

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Kimx3babies

Asked by Kimx3babies at 5:54 PM on May. 6, 2009 in Money & Work

Level 1 (0 Credits)
Answers (6)
  • I went to a lawyer in November 2006... chapter seven court was in April of 2007 and final discharge of debts in July of 2007.
    Anonymous

    Answer by Anonymous at 5:56 PM on May. 6, 2009

  • Chapter 7 should be your FINAL resort, why do you feel you need to file?
    Anonymous

    Answer by Anonymous at 5:57 PM on May. 6, 2009

  • I don't know about Ch 7. We have a Ch 13. We are just about finished paying on it. We had a car that we had to keep and the only way we could keep it is if we did Ch 13. We've been paying on it since April 2005. Technically we have another year, but with this Tax return we're getting (hopefully soon) we're paying it off early. After it's done being paid off it will take about 3 months for it to discharge. It will still be on the credit though, but it will say discharged.
    Anonymous

    Answer by Anonymous at 5:57 PM on May. 6, 2009

  • We are in the middle of one right now. I think it is suppose to be about 4-5 months from start to finish, if the courts are not backed up and you don't run into any issues!

    Please know this is a last resort and you have to QUALIFY for bankruptcy. You also cannot have just went out and racked up a ton of credit and expect it to be discharged! You may lose your house or cars or other property you may own!
    Anonymous

    Answer by Anonymous at 6:16 PM on May. 6, 2009

  • The whole process was about 6 months for me. We waited until the last possible second because we knew we were going to give back the house though. So, otherwise, I would say about a 3 month process. The minute you agree with your attorney though, creditors must leave you alone. You can tell them you are going to file and give them your attorney's name.. from then on, they have to leave you alone.
    Anonymous

    Answer by Anonymous at 6:32 PM on May. 6, 2009

  • Um.. you do not have to qualify. You have to attend a credit counseling course, which the attorney will arrange for you. TRUST ME WHEN I SAY THIS>> Attorney's want the money, they will do everything they can to get the process going for you... AS LONG AS YOU PAY THEM, it will happen.
    Anonymous

    Answer by Anonymous at 6:33 PM on May. 6, 2009

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