when you say bankrupcy why do collection agencys act like
Date: Tue, 01/02/2007 - 16:21
They don't like to hear it because it means no money for them.
They don't like to hear it because it means no money for them.
Interesting question - I guess it can be summed up that collecti
Interesting question - I guess it can be summed up that collection agencies know if you file bankruptcy, they will either get their money very slowly - and then only a percentage of it, or not at all. A Chapter 13 Bankruptcy is a repayment plan that repays your debts over a 3-to-5-year period...and anything that doesn't get paid back in that time frame is discharged. A Chapter 7 Bankruptcy eliminates your debt immediately upon discharge.
So you can see how the collection agencies would view this as a bad thing.
When I've mentioned to my credit card companies that I'm thinkin
When I've mentioned to my credit card companies that I'm thinking about filing bankruptcy, they immediately said they can give me a settlement offer or work out a payment plan b/c they know that if I file, they will either get no money, or only a percentage of it.
my daughter told them she is filing bankrupcy
on all of them she told me that she is going to save her money she is not going to pay them and file on thier butts she said it will over and done and painless.She told me then right after she files she can buy a car or get a credit card or possiable a home.
I was hoping she would pay her bills but she has decided to go this way,its been 3 years since she made any payment on any of her debt so she told them bankrupcy and some yelled at her and some hung up the phone on her and some cussed and some told her it's to late to file .
Brenda-- Who are you referring to when you say "she?"
Brenda--
Who are you referring to when you say "she?"
daughter
sorry Brownsugar she is my daughter and she hasn't paid any of her 13 credit cards in 3 years,has an eviction,her cell phone and her electricity and her 2 vehichles which both repo now she thinks bankrupcey solves all her problems.She won;t talk to any bill collector or credit agency she just tells them to bring it on when they threaten her,she has no property or bank account so they really can't put a lien on anything so she finally threaten the collection agenceys with bankrupcy.She says as soom as she files she can go and get credit again because bankrupcy is better than paying your bills.
In all honsty I would rather some debtors to file bankrupcy, tha
In all honsty I would rather some debtors to file bankrupcy, that way they are giving everyone an honest out rather than playing hide and seek until it is resolved.
I really can't stand it though when a debtor tries to use it as
I really can't stand it though when a debtor tries to use it as a scare tatic, I tell 'em to go file it. It's their credit not mine.
The Bankruptcy laws have changed. It's always been that you can
The Bankruptcy laws have changed. It's always been that you can't file another bankruptcy until 3 years after your last one was discharged. But now the courts are looking at how many times a person has filed and with the new laws, they are send filers back to a debt consolidator chosen by the court.
The laws for BK might be different in every state, but here in O
The laws for BK might be different in every state, but here in OH, there has to be a four year waiting period between a Ch7 & Ch 13, and a 6 to 8 year wating period between two Ch 7's.