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when you say bankrupcy why do collection agencys act like

Date: Tue, 01/02/2007 - 16:21

Submitted by anonymous
on Tue, 01/02/2007 - 16:21

Posts: 202330 Credits: [Donate]

Total Replies: 11


you have said a bad word?


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.


lrhall41

Submitted by SUEBEEHONEY70 on Tue, 01/02/2007 - 16:28

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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 .


lrhall41

Submitted by on Tue, 01/02/2007 - 16:56

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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.


lrhall41

Submitted by on Tue, 01/02/2007 - 17:03

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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.


lrhall41

Submitted by on Tue, 01/02/2007 - 22:04

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