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Please clarify

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SMTTT2012
Established Member

Please clarify

Hello everyone, 

 

Firstly, I'd like to thank everyone for their input on this forum it has been great reading through hours of post as well as reassuring that I'll bounce back. 

I'm 27 and decided to file for chap 7 after losing my job. I went through my savings and decided to swallow my pride. I spoke with a lawyer and we decided together that it was best that I apply for chapter 7. I've had my 341 meeting on 04/12/16. As I've read through people's post I've noticed their discharges occurred immediately 60 days post 341 meeting. Is this the norm of a creditor doesn't object to a debt? Another question I have is about credit reports. I've read that it's important to verify that all credit agencies are reporting that each debt is "included in bankruptcy" 

 

Ive recently signed up for myfico's $30 month credit watch and have noticed that some debts say either discharged or included in bankruptcy depending on the reporting agency. Does this mean exactly what it says? That the debt has already been discharged? 

 

Hopefully im clear with my questions. 

Thanks! 

Message 1 of 4
3 REPLIES 3
FireMedic1
Community Leader
Mega Contributor

Re: Please clarify

Yep. If anything looks funny. Print it and give it to your lawyer. He'll advise you what to do. My lawyer had to threathen to sue 1 CA if they didnt remove the account on my report that was still reporting. Otherwise. Your cool.


Message 2 of 4
Datx
Valued Contributor

Re: Please clarify


@SMTTT2012 wrote:

Hello everyone, 

 

Firstly, I'd like to thank everyone for their input on this forum it has been great reading through hours of post as well as reassuring that I'll bounce back. 

I'm 27 and decided to file for chap 7 after losing my job. I went through my savings and decided to swallow my pride. I spoke with a lawyer and we decided together that it was best that I apply for chapter 7. I've had my 341 meeting on 04/12/16. As I've read through people's post I've noticed their discharges occurred immediately 60 days post 341 meeting. Is this the norm of a creditor doesn't object to a debt? Another question I have is about credit reports. I've read that it's important to verify that all credit agencies are reporting that each debt is "included in bankruptcy" 

 

Ive recently signed up for myfico's $30 month credit watch and have noticed that some debts say either discharged or included in bankruptcy depending on the reporting agency. Does this mean exactly what it says? That the debt has already been discharged? 

 

Hopefully im clear with my questions. 

Thanks! 


Hi. The discharge to your BK normally happens about 60 days after your 341 meeting. I say about, because it can take a few days after the 60 day deadline before you see the discharge entered by the BK court. Regarding your credit reports, all your debts that you listed in your BK should show as included in bankruptcy on your credit reports. It may not show right away, but should show after a few weeks after you have been discharged. Most of my accounts showed before I was discharged, but some did not. Don't worry about that until after your BK discharge.

 

The term "discharge" on your credit reports, does not necessarily means it discharged yet at the BK court. Especially if you just had your 341 meeting a few days ago. Anyways, good luck on your BK. Hope all goes smoothly. 

Message 3 of 4
TRC_WA
Senior Contributor

Re: Please clarify


@FireMedic1 wrote:

Yep. If anything looks funny. Print it and give it to your lawyer. He'll advise you what to do. My lawyer had to threathen to sue 1 CA if they didnt remove the account on my report that was still reporting. Otherwise. Your cool.


As said in the other thread, let us know what leg your lawyer has to stand on here.

 

They aren't required to remove it... only to report $0 balance and included in bankruptcy.

 

If it were that easy everyone would sue to get derogatory accounts removed.

 

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