Need answers! Please help lol

[Anonymous]

Hey everyone!

I'm filing (Ch. 7) on 3/31.. get discharged (hopefully in June/early July)

I have a lease on a car, the lawyer said I'm able to keep that. I just want to know if this helps me out after I am discharged? as the bureaus etc see I am paying a car every month.

Also, what do I have to do once I'm discharged? Do I pull a report and go through and make sure that things are reporting correctly? I know I have some debts that still have not gone to collections, are those stopped as well once the bankrutcy goes into place?

Thank you for your help!

[Anonymous]

I literally got chapter 7 discharge 3 days ago. My score was in the 400's and now is 658! If you keep your car and you're making payments on time, it will help. We got a brand new car same day of the discharge with $0 down. We also had 3 new cc before the Bankrupcy was even discharged. What will happen is the lawyer will send out the discharge papers to all the creditors and it could take up to a few months for them to catch up with the credit bureaus. I have a free credit with credit karma so I just check it once a week to watch it update little at a time. Whatever you have added to be discharged will be no longer able to be collected with a few exceptions: taxes , child support, student loans.
Also if ther s anything missing that you forgot you can have the lawyer amend the bankruptcy and add whatever is not listed in your petition. Hope this helps

[Anonymous]

Oh and also there's the 341 meeting I think it's called, it's nothing formal really. What state are you in?

[Anonymous]

If you have to reaffirm on the lease, make sure part of the agreement is that they keep reporting to bureas.  

[Anonymous]

What do you mean reaffirm? The lawyer said I get to continue to pay the lease, i don't know what the "reaffirm" means. Sorry

[Anonymous]

Shop- I sent you a PM

[Anonymous]

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@Anonymous wrote:
What do you mean reaffirm? The lawyer said I get to continue to pay the lease, i don't know what the "reaffirm" means. Sorry

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Reaffirming basically means you are acknowledging and accepting the debt. You don't have to reaffirm anything, but you also have very few legal rights if they decide they want the property back. In the reaffirmation agreement, you can specify that you want your payment history reported to the credit bureaus. They are under no obligation to do so without that request.

Good luck to you. Keep reading, there is a lot of great (and some no so great) information in the forum.