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 Posted: Sun Nov 18, 2007 10:03 am |
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Any debt that is discharged in a BK is no longer collectible. In the eyes of the court the debt no longer exists and this is your fresh start provision for filing the BK.
If a creditor or collector contacts you attempting to collect on a discharged debt,you need to be aware of a few things.
1.Notify them in writing of BK status of debt and demand they cease & desist collecting or reporting on debt.
2. If they refuse to cease drag them into BK court for contempt of court for violating the BK injunction.The damages are much higher in this court and they apply to all.
3.Reporting of debts on a credit report also changes after BK. For example you cannot be in collection or late on a BK debt as it is no longer a debt. The Ftc and some courts have ruled on this. If the debt was charged off before BK,they are allowed to continue to carry that but balance must be zero and noted as included in BK. If the account was not charged off prior to BK it cannot show charged off on your report.It would show included in BK and balance of zero.
4. Triage your reports after a BK so you can get everyone to report properly and your scores can start climbing post BK.
_________________
Cajunbulldog
Keeping an eye out for consumers.
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809
http://www.ftc.gov/os/statutes/fcrajump.shtm
http://www.debtconsolidationcare.com/forums/about216.html
Use this letter to protect your rights under the FDCPA
05-27-08 Fico EQ 769 EX 768 TU 751 Balances effecting Fico scores.
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cajunbulldog
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| Posted: Sun Nov 18, 2007 10:18 am |
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Thanks for the information Cajun. That is helpful to know.
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pybasj
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| Posted: Mon Nov 19, 2007 10:28 am |
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This is great info Cajun! I am bumping this up so others can see this!..karen
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As long as you are alive, there's always hope
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Bossy4455
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| Posted: Mon Nov 19, 2007 10:52 am |
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that is good info 
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when rich people hit rock bottom, they fall hard; people like me, we just roll over.
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granny
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