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Before Bankruptcy Thread??

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Anonymous
Not applicable

Before Bankruptcy Thread??

Hello all!

     I'm so glad to have fpund this site! It has been a blessing already! I have searched and can't seem to find a thread for ppl that haven't filed yet....can anyone point me in the right direction?

Message 1 of 16
15 REPLIES 15
Pway
Valued Contributor

Re: Before Bankruptcy Thread??

You are in the correct area.  There is not a specific area for those who have not filed bk yet.  This is the area to ask all the questions as it pertains to bk.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.
Message 2 of 16
Anonymous
Not applicable

Re: Before Bankruptcy Thread??

All of us that have filed have been where you are now, prefiling. If you have questions, don't hesitate to ask!

Message 3 of 16
Anonymous
Not applicable

Re: Before Bankruptcy Thread??

Welcome!
Message 4 of 16
Bruiser
Regular Contributor

Re: Before Bankruptcy Thread??

I've been around the BK block twice,.. not very proud of it, but I had very little choice. I also filed my own BK the second time around. Everything went smoothly and I know a lot more about BK now than I did before. It defintely should be last resort, but sometimes it just makes more sense to file depending on your situation. For me; joint debt and a divorce was plenty of reason alone.

BK 7 Filed: 08/07/15
BK 7 Discharged: 11/04/15
Discharge Scores: Equifax (572) - TransUnion (586) - Experian (511)
Goal: 700+
Credit Cards: NFCU nRewards ($500) - CapOne Platinum ($300) - CapOne QuicksilverOne Rewards ($300) - Victoria's Secret ($250) - Firestone ($1200)
Auto Loan: NFCU ($34.6K @ 7.7%)
Message 5 of 16
Anonymous
Not applicable

Re: Before Bankruptcy Thread??

THANK YOU for the welcomes & advice! Truely appreciated! And Bruiser thanks that gives me hope that mine will go smoothly!! A little about my situation....I'm currently being garnished dor a car loan through credit acceptance that me & my ex husband got in 06. I've somehow managed to dodge the garnishment from my current employer for about 2 1/2 yrs (really don't know how other than when they weren't orginally sent the paper work they didn't know my married name & sent it back because the garnished me for about 4 months at my previous job). It looks like they did try to go after my ex a few yrs back but he must of quit because I don't see anything paid out & now he is a taxi driver. I haven't checked my cs or amt of debt in about a yr or so but my score back rhen was in the very low 500s. I have 3 repos (4 if they include the repo from the buy here pay here lot I just used), tons of medical, 2 burned low cl credit cards, cable, utilities, school loans, and WHO REALLY KNOWS what else is on there. I'm 34 & have been wanting to filenfor many years now. I'm currently making about 26,000 annully & just got a position where I have a chance to make an extra 700-900 commsion a month. I've never had the money before & didn't really know where to start. And I'm to the point where not only do I want the garnishment to stop, I'd like a fresh start to get a vhance to do it the RIGHT way this time. I've read quite a bit in how to rebuild but I'm curious on what I need to do before I file. What I all need to get together for the attorney & in what kinda time line. What to look for in the attorney & where to look. I'm pretty clueless on that part. Thanks again for the responses. I'm so readybto start this NEW journey!!!!
Message 6 of 16
Anonymous
Not applicable

Re: Before Bankruptcy Thread??

So sorry for the typos & grammer. I have to view & use the site through my phone & it's not rhe easiest to type on. Please bare with me. I thought I'd also add that My Mom opened a Sam's club card when she worked there years ago. She got a free membership outta the deal & was also able to give a family member a free membership to the store. For some weird reason the actual credit card she got from there has me linked to it. The only reason I know this is bcuz yrs ago I seen it on my credit & even though it showed as good credit I freaked that someone had a card out in my name & calles the co. They said I'm not an actual auth user but shows my name as well bcuz of the store membership my Mom got me. I believe this is the ONLY reason my score is even in the low 500s I think it would be much worse if that card didn't list me on it. Has anyone had to deal with this or a sumimular situation. So I have to list this when I file??
Message 7 of 16
Bruiser
Regular Contributor

Re: Before Bankruptcy Thread??


@Anonymous wrote:
THANK YOU for the welcomes & advice! Truely appreciated! And Bruiser thanks that gives me hope that mine will go smoothly!! A little about my situation....I'm currently being garnished dor a car loan through credit acceptance that me & my ex husband got in 06. I've somehow managed to dodge the garnishment from my current employer for about 2 1/2 yrs (really don't know how other than when they weren't orginally sent the paper work they didn't know my married name & sent it back because the garnished me for about 4 months at my previous job). It looks like they did try to go after my ex a few yrs back but he must of quit because I don't see anything paid out & now he is a taxi driver. I haven't checked my cs or amt of debt in about a yr or so but my score back rhen was in the very low 500s. I have 3 repos (4 if they include the repo from the buy here pay here lot I just used), tons of medical, 2 burned low cl credit cards, cable, utilities, school loans, and WHO REALLY KNOWS what else is on there. I'm 34 & have been wanting to filenfor many years now. I'm currently making about 26,000 annully & just got a position where I have a chance to make an extra 700-900 commsion a month. I've never had the money before & didn't really know where to start. And I'm to the point where not only do I want the garnishment to stop, I'd like a fresh start to get a vhance to do it the RIGHT way this time. I've read quite a bit in how to rebuild but I'm curious on what I need to do before I file. What I all need to get together for the attorney & in what kinda time line. What to look for in the attorney & where to look. I'm pretty clueless on that part. Thanks again for the responses. I'm so readybto start this NEW journey!!!!

Sometimes they fall behind and forget to file the necessary paperwork for garnishing wages. I was able to avoid a few garnishments this way. Other times they just go after the main person or whoever is easier to collect from. I was hit with a few garnishments though. My chapyer 7 bankruptcy put a stop to any and all garnishments, the day I filed.

 

Here's what you need to do before you file:

- Gather any and all statements, bills, collections, and anything that has been sent to you about owing money that you can find.

- Run your credit reports and see what is showing. This isn't necessary, but I prefer to know what's going on before walking into an attorney's office.

- You'll need a list or a good idea of what property you own, how much is in your bank, how many bank accounts you have, any vehicles you possess, electronics, furniture, clothing, and a good idea of what everything is worth.

- Do you owe anyone money? Can there be a lawsuit filed against you or can you possibly have one filed against someone else?

- You'll need your ID, bank statements from the last couple months, your last 6 months of pay stubs, your previous 2 years of tax returns, and your social security card (for the 341 meeting).

 

These are all things that will speed up the entire process and make your meeting with your attorney a lot less stressful.

 

What state are you in?

BK 7 Filed: 08/07/15
BK 7 Discharged: 11/04/15
Discharge Scores: Equifax (572) - TransUnion (586) - Experian (511)
Goal: 700+
Credit Cards: NFCU nRewards ($500) - CapOne Platinum ($300) - CapOne QuicksilverOne Rewards ($300) - Victoria's Secret ($250) - Firestone ($1200)
Auto Loan: NFCU ($34.6K @ 7.7%)
Message 8 of 16
Bruiser
Regular Contributor

Re: Before Bankruptcy Thread??


@Anonymous wrote:
So sorry for the typos & grammer. I have to view & use the site through my phone & it's not rhe easiest to type on. Please bare with me. I thought I'd also add that My Mom opened a Sam's club card when she worked there years ago. She got a free membership outta the deal & was also able to give a family member a free membership to the store. For some weird reason the actual credit card she got from there has me linked to it. The only reason I know this is bcuz yrs ago I seen it on my credit & even though it showed as good credit I freaked that someone had a card out in my name & calles the co. They said I'm not an actual auth user but shows my name as well bcuz of the store membership my Mom got me. I believe this is the ONLY reason my score is even in the low 500s I think it would be much worse if that card didn't list me on it. Has anyone had to deal with this or a sumimular situation. So I have to list this when I file??

Your lawyer will add everything on your report as well, and advise to do so. This is also why it is important to have your credit reports before going to the bk attorney.

BK 7 Filed: 08/07/15
BK 7 Discharged: 11/04/15
Discharge Scores: Equifax (572) - TransUnion (586) - Experian (511)
Goal: 700+
Credit Cards: NFCU nRewards ($500) - CapOne Platinum ($300) - CapOne QuicksilverOne Rewards ($300) - Victoria's Secret ($250) - Firestone ($1200)
Auto Loan: NFCU ($34.6K @ 7.7%)
Message 9 of 16
StartingOver10
Moderator Emerita

Re: Before Bankruptcy Thread??

Welcome OP to MyFICO!

 

Just a little clarification here on one of the prior posts:  all accounts have to be added to the petition. There is no exception to this  We can not advocate violation of the bk laws here - even if the violation is done unknowingly by the participant.  

 

The consumers here are just that - consumers.  We are not attorneys. It is best to get legal advice from a Bk attorney.  As to what is needed, the advice given by Bruiser above to prepare for your attorney interview is good advice. It is also good to interview several attorney's so you get the best Bk attorney possible for the job. One of the resources that I found helpful during my Bk was the NOLO series on Bk.  Here is a link  for you http://www.nolo.com/legal-encyclopedia/chapter-7-bankruptcy

 

This site is wonderful too. Just keep in mind that most of us are not attorney's so be careful that you discuss everything with your attorney to make sure you are on the right road. 

Message 10 of 16
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