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Posted: Fri Aug 12, 2005 8:58 am Subject: NSF CHECKS & BANKRUPTCY

I am in the process of filing bankruptcy and need to know if past nsf checks are eligible to be entered as debt. Does anyone know?

Posted: Fri Aug 12, 2005 1:14 pm Subject:

Hi Tabitha

Past NSF checks are eligible to be entered as debt in bankruptcy. But, beware of the bank or the recipient of the check claiming Fraud.

Regards
Roxette

Posted: Fri Aug 12, 2005 1:29 pm Subject:

yeah...what else is new!

Posted: Fri Aug 12, 2005 2:41 pm Subject:

Please be aware that bankrupting an NSF check can result in problems getting a new checking account for up to five years.

Regards
Roxette

Posted: Tue Aug 16, 2005 8:24 am Subject:

Yes, I'm aware of that factor...I've been stupid with money for years now and I'm hoping by filing bankruptcy I will be able to get a absolute fresh start...I'm not worried about the whole checking account thing...i do have one now...I'm just concerned with the NSF's....
I appreciate your advice!

Posted: Tue Aug 16, 2005 10:35 am Subject:

Tabitha,

I would reaffirm those NSF's in your bankruptcy and pay them. Also, check with your BK attorney. NSF rules and Bankruptcy may differ from state to state.

Tabitha · Posted: Tue Aug 16, 2005 11:42 am Subject:

I'm filing chapter 7 so I don't think I can reaffirm any debt....I don't really know a lot about bankruptcy so I'm sorta learning as I go...

Posted: Tue Aug 16, 2005 11:48 am Subject:

You can reaffirm any debt you want in Chapter 7. I just went through it myself.

Posted: Wed Aug 17, 2005 10:08 am Subject:

So how do I reaffirm these checks, what does that do?
I really appreciate your advice!

Posted: Wed Aug 17, 2005 3:50 pm Subject:

Hi Tabitha

Reaffirmation of debt in bankruptcy needs a serious approach and all the options should be clearly understood with the help of your attorney.

One most important factor that requires attention is that after signing the Reaffirmation Agreement, if you stop paying on your debt, a deficiency judgment can be obtained.

If you change or wish to terminate or resend this agreement, you will have 60 days to file a recission agreement after a Chapter 7 reaffirmation is fully executed and filed with the Bankruptcy Clerk's office.

I believe that you should consult your attorney if you are thinking of reaffirmation.

Regards
Roxette

Posted: Mon Aug 22, 2005 9:06 am Subject:

Thank you...

I don't believe however that I will be reaffirming any of my debt, I need as clean a slate as I can get, and I think just letting it all go is my best bet.

Posted: Fri Sep 02, 2005 11:27 pm Subject: i need to get out of debt

i want to get rid of all of my bills

Posted: Sat Sep 03, 2005 12:05 pm Subject:

Hi

A bit of planning and a proper budgeting is the best approach to solve all the debt related problems.

I hope that you will be highly benefited from the counseling offered by the expert.

Regards
Roxette

Posted: Tue Sep 06, 2005 7:45 pm Subject: Think It through

I filed chapter 7 in 1997. I was told at the time it would be off my credit report in 7 years under the law at the time. Now its 2005 and its still on my reports. The Credit bureau's all say it will remain till 2007.

When I filed, like you I deperatly wanted a fresh start. In truth I got nothing of the sort. I still can't get meaningfull credit with out paying outrageous interest or other fees. When I am still declined, often I am told it is based on "old infomration", i.e. the bankruptcy. If I had it all to do over again, I probably wouldn't do it at all.

Only you can make the decision what is best for you . But be carefull. Your attorney will tell you they will be throwing credit cards at you within six months (at least mine did). 8 years later all I have is a $400 secured card from Capital One, and no hopes of anything better any time soon. Maybe once it drops off and I can say no to that quetion without the truth being verified, and then I will be able to get something more reasonable. If you choose to go through with your filing, good luck!!!! Above all else be certain you learn the lessons you need to learn.

Posted: Tue Sep 06, 2005 8:00 pm Subject:

Thank you for yourposting lc.wilson. A lot of us here in the community have thought about filing at one time or another. I too have heard so many different things about what happens after you file. Thankfully I never did. I wish you the best in acheiving your credit goals.!!!

Posted: Tue Sep 06, 2005 9:13 pm Subject:

I had to file in 2001 in my divorce since my ex was filing.I received alot of small unsecured credit card offers 6 months after.Now Im worse off then before i filed.I pray each night that my electric and water are still going since I can only pay a small part of the bills.I had to resort to payday loans just to buy food and clothes for my children.Now I get paid and its all gone to payday loan renewals and rent.There is nothing left.I only have 4500 dollars in credit card and payday loans which may seem like small potatos to some but because of interest it just keeps building higher and higher.I pay over 550 a month to payday loans for renewal fees. If I could get a 2000 loan to pay them off I would be fine since the payment would be much less.But because I filed Bk I cant get a loan.They dont care that I have not defauted on any of the payday loans in the 9 months that Ive had them.So be careful before you file,there may be other options like consolidation,I havnt gone that route yet because you must default the payday loans first and Im not ready for the harassing calls at work.Good luck to you in whatever you decide.