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My husband and I have decided to file bankruptcy. We know we are eligible for Chapter 7 based on a previous consultation. We have an appt on Fri with a local attorney in our hometown to start the proceedings. Before we go, I have a couple of questions. We live in WI if that matters.

1. Can we include our payday loans? All three are current as of today, they are with CheckIntoCash, The Cash Store and Security Finance. Kind of a sub question to that...if we can include them, how do we make them stop the automatic withdrawls from our checking account? They withdraw the interest and then eventually the full loan amount automatically from our checking account on my husband's payday. Can we make them stop?

2. How old does the debt have to be to be included in the bankruptcy?

3. Does the debt have to be in collections or can we include our medical bills that are actually current right now (we are drowning in medical debt)?

4. Will my attorney seek out all of my old debt or do I need to find it all? I ask because a lot of our really old debt has been sold multiple times to different companies for collection. It's nearly impossible to track which is which.

Thank you very much in advance to anyone that can even just answer one of my questions!




Ch 7 would eliminate most of your personal debts, credit card debts, medical bill debts, payday loans, loan judgments and judgment granted in an auto accident. You can also include tax debts that are more than three years old in a bankruptcy. Hence, you may include the pdls in bk but before that you may wish to check the legal status of these lenders in your state too.

It's better to do your homework since you wouldn't like to leave out any debt that can haunt you later.

There is no policy that the debt needs to be old to be included in bk. Even an immediate one can be attached.

Anyway, you must get all your confusions cleared by the bankruptcy lawyer.

Sub: #1 posted on Mon, 10/26/2009 - 23:47

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You need to find all the debts. Pull all three of the major credit reports.

Sub: #2 posted on Tue, 10/27/2009 - 03:21

SOAPLADY SOAPLADY
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can home loan be restructured under ch 7

Sub: #3 posted on Thu, 02/25/2010 - 11:03

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Quote:
Originally Posted by Anonymous
can home loan be restructured under ch 7


You first need to reaffirm the mortgage if you're filing ch 7. After reaffirmation you'd become personally responsible for the loan. You can then apply for a loan modification. However, you should get it confirmed by your lender.

Sub: #4 posted on Thu, 02/25/2010 - 20:58

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Can a creditor keep my only car if they have a lean against it.? The care is only worth 2,800 and the loan with high interest is 11,000 I have a total of 20,000 in loans and credit card debt. Citi financial a high interest lender holds a second mortgage of 25,000 on my home. I was able to get a modification on my first mort but still can't afford all the payments of credit debt and the personal loan I have with Citi fi. If I file bankrupt on the personal loan at Citi financial can they take my car and because my second mort is with them can they take my home.

Sub: #5 posted on Thu, 03/11/2010 - 16:27

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suggestions advice for new jersey filing??help if u can..ty..can i do this by myself?

Sub: #6 posted on Fri, 03/12/2010 - 10:17

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Guest, I am presuming that you are considering filing ch 7. You may have to check with the exemption available to you under ch 7 bankruptcy. I'd suggest that you speak to a qualified bk lawyer to understand your options.

Sub: #7 posted on Sat, 03/13/2010 - 03:12

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Quote:
Originally Posted by Anonymous
suggestions advice for new jersey filing??help if u can..ty..can i do this by myself?



very limited information to post a reply. But, yeah, you can file it 'pro se'. However, consulting a bankruptcy attorney may worth the trouble.

Sub: #8 posted on Sat, 03/13/2010 - 03:15

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Headed to a bk attourney myself. Hate to do it but, I just don't see any other solution. I have tried working 2 and 3 jobs. That nearly got me terminated from my primary, full time job that I have had for close to 10 years! Turns out, it was killing my performance at the primary job and pissing off some of the big wigs. Certainly not worth that. Looked into debt management, settlement, consolidation, you name it. Too many complaints out against those types of companies. If this doesn't work, I guess it's time to purchase a cemetary plot!

Sub: #9 posted on Tue, 03/30/2010 - 07:46

jmoon219 jmoon219

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Agreed

Sub: #10 posted on Wed, 01/13/2016 - 09:40

Pooty Cheese Pooty Cheese

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