how do i know if i included

[superdad]

I talked to a BK lawyer today and have decided to file Ch7.  My question is, besides whats on my CR. How do I make sure all collections that might be out there thats not on my CR are covered?  I know there is a judement out there but is'nt showing on my CR. I know I have 15k in past student loans out there but they are not on my CR. Will the SL show up? I have been trying to clear up my CR on my own and went in to 2020 with no collections, then WHAMM!!! past collections that where not on my report starting adding in the past 3 months. Now im over 10 collections and 25K. I've hit a wall and I am DONE trying to pay off collections!! I am not getting anywhere. My current CS across all 3 is sub 500.

I've done everything right, 3 secured cards, 2 report 0 and one reports less then 10%.  I've had these cards over well over a year and never missed a payment.  I have a auto loan also thats in good standing also.

[Anonymous]

Right, first good for you taking responsibility for your finances. BK7 is a challenging and difficult decision to make, but it's the best thing one can do sometimes to get back to a sound financial footing. So give yourself credit for that. 

Second, your job is to list ALL the debt you have from every creditor. Collections etc etc. They will all be discharged. They can no longer call you or contact you the moment you file with the court. 

Third, some debt will follow you. Student loans cannot ever be discharged except is very serious hardship cases usually involving some disability that prevents you from paying (and guess what, you don't get to decide that, a judge does). Child support cannot usually be discharged. And some legal debts as well I think (please check). You don't say how old your SLs are. Are they in default? Are they in rehab? Are they older than 7 years? 

fourth, you have credit cards? did your attorney tell you that those will not survive your BK7? It's ok, you'll get new ones after the BK7 DC. And if you are making car payments , you'll need to reaffirm your car with the lender so that you don't lose that too in the BK7. 

your scores will tank even more during this time between filing and DC. 30 days after your discharge your scores will be all over the place. But the good news is that the only way is up now. 

i hope your attorney can help you answer these legal questions though.  Even if no collections show up currently on your CR they are there and they WILL be gone are your BK7 is DC. They can't collect anymore. Well they can still appear on your CR ( why aren't they there now?) as lates etc. But they cannot collect from you. You can PFD later

good luck I hope this is helpful

[superdad]

My SL are from 2000 and I'm gussing their in default. 

I have 3 secured cards.
navy fed 200 limit reporting-10%

capital one 200 limit 0 balance

opensky 200 limit 0 balance
My Atty told me the secured cards should be ok because it's not unsecured debt? 

I recently bought a 2020 Chevy. 11% rate but my monthly payment is 520.00 I'm thinking of buying a cheap car and letting the 2020 go. Thoughts on this?

[Anonymous]

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@superdad wrote:

My SL are from 2000 and I'm gussing their in default. 

I have 3 secured cards.
navy fed 200 limit reporting-10%

capital one 200 limit 0 balance

opensky 200 limit 0 balance
My Atty told me the secured cards should be ok because it's not unsecured debt? 

I recently bought a 2020 Chevy. 11% rate but my monthly payment is 520.00 I'm thinking of buying a cheap car and letting the 2020 go. Thoughts on this?

---

1. Student loans. It might be in your interest to get them out if default by rehabbing (9 months of income adjusted payments, mine are <$10 a month!) or consolidating. Rehabbing them will get them out of default in 9 months and they will appear as new trade lines on your CR. And in theory since they are older than 7 years, any lates should not be there. Your average age of accounts will increase also so it's good. Consolidating is faster but your loans will appear as defaulted on your CR. You might start rehabbing right after DC since everything will stop when you file until DC. Please ask or call someone who knows more. There's no reason to let the SLs hang over your head; there are very cheap income-adjusted repayment plans and these ancient TLs will appear new on your CR and should help your score increase. In theory. 

2. your cards will not survive bankruptcy. If any are secured, close them to get your coins back otherwise say bye bye to that money. oh I see there are all secured. Get your money back before BK!! There might be someone here who knows more than I do, but as soon as you file ALL your creditors will get notice and shut your cards down. Check your terms of agreement with each CC and look for what happens when you file bankruptcy. Warning if you think you can hide these from the trustee. They can cancel your Bk ("dismiss") and then you are SOL. My secured Capital one was shut down and canceled within days of the BK7 fKlingon. 

3 you can open an OpenSky visa with no credit check (secured) 

4 auto: you can reaffirm this car and it can survive bankruptcy. if you want a better car and can get better terms despite your low CS go for it now. But if the trustee finds out you are getting new credit so soon before your filing, you might get dismissed. 

6. you might consider another attorney. Just sayin

 good luck and let us know!! 

[superdad]

I wasn't thinking of getting new credit with a car. I was thinking of paying cash for a cheaper one and letting the 2020 go and getting rid of the 520/month payment. 

I'll start closing my secured cards today. 

[FireMedic1]

If by chance you forget to include a debt in BK. Your still covered by law. Your lawyer may ask like mine did was to pull my credit reports and turn them in. The ones from annual report, not some online source. Once you file the rest you speak about will be gone. Except the SL's. They may be hiding somewhere but they always find out eventually. Good Luck on your road to financial freedom.