Emergency Bankruptcy Filing Dismissed

[MyDataMyChoice]

Emergency Bankruptcy Filing Dismissed

A friend of mine was going to have her house forclosed and her attorney said he would need to file an emergency bankruptcy filing to stop it...

well she never went and took the conselling or went back to finish the filing... it got dismissed

Her ficos were in the 720 range before

her mortgage never showed up on her credit (and still doesnt) (She hasnt paid in over a year) (she is fighting the mortgage compnay for something that happened in the loan documents... i dont know but she seems to be winning as they may refinance and give her cash.... )

The problem is... she didnt know the 'emergency'' bankrupcy even though it was filed would effect her credit

she did not go bankrupt...

Capital one closed her accounts, and TD bank 

Her score dropped to 600  

Can she get this removed????  Capital One wouldnt reopen her account (shes had it for 13 years)

[CH-7-Mission-Accomplished]

She is toast.  She can't get it removed.  It will stick for 7 years (instead of 10 had it gone through).

Most lenders see a dismissed BK the same as a completed BK.

Her only recourse would be to sue the attorney if she did not authorize this, but I assume she signed the paperwork for the filing.

[Anonymous]

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@CH-7-Mission-Accomplished wrote:

She is toast.  She can't get it removed.  It will stick for 7 years (instead of 10 had it gone through).

Most lenders see a dismissed BK the same as a completed BK.

Her only recourse would be to sue the attorney if she did not authorize this, but I assume she signed the paperwork for the filing.

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+10000 with the above statement..

[TRC_WA]

There are no mulligans with filing BR.

You file, the public record stays on your report... even if you change your mind and it's dismissed for whatever reason.

Ch 13 discharges stay for 7.

Ch 13 dismissals stay for 10.  There have been reports of some early deletions after 7,8,9 years... YMMV.

Not sure if Ch 7 dismissals stay for 10 as the discharges do... or if it's 7 like mentioned above.  I would think 10 years...

[Wizdog1]

You are correct TRC, I was very close to dismissing my BK7 and my attorney here in CA advised it would still report 10 years.

[gdale6]

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@TRC_WA wrote:

There are no mulligans with filing BR.

You file, the public record stays on your report... even if you change your mind and it's dismissed for whatever reason.

Ch 13 discharges stay for 7.

Ch 13 dismissals stay for 10.  There have been reports of some early deletions after 7,8,9 years... YMMV.

Not sure if Ch 7 dismissals stay for 10 as the discharges do... or if it's 7 like mentioned above.  I would think 10 years...

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10 years for dismissed 7 with a caveat EX & TU may let them go at the 7 year mark if you can prove to them it was dismissed voluntarily. In the OPs case the BK was dismissed for cause (failure to finish the filing) so its most likely going to be 10 years.