Questions about your ongoing bankruptcy?




I HAVE A CREDITOR THAT I DID NOT LIST ON MY BANKRUPTCY. You can add additional creditors until your bankruptcy is discharged. You can add as many creditors as you need during your bankruptcy. However each time we add a list of creditors the court charges a fee. We add your first list of creditors free but charge a fee for each additional list.

I HAVE A CREDITOR WHO WILL NOT STOP CALLING OR SENDING LETTERS. After your bankruptcy is filed creditors cannot contact you in any way. They receive a notice about the same time that you do.
-If a creditor calls you tell him that you filed bankruptcy and to call our office. This stops most creditors.
-If they call back, let us know immediatelyy.
-If you receive written demands for paymentt, bring the letter down to our office at your convenience. We will contact the creditor.

COMMON TERMS

PETITION:
This is all your bankruptcy papers that we printed out and you signed. We gave you a copy when you signed it. It is important to keep your copy of the petition safe and for a long time. We will not keep your file forever so you should keep your copy of everything related to the bankruptcy.

AMENDMENT:
This is what is done when there are any changes made to your bankruptcy petition. A typical amendment is adding creditors. The court charges a fee for each amendment including adding a list of additional creditors. Amendments also include correcting a social security number or the spelling of your name. This is why we ask you to review your petition before signing it.

MEETING OF CREDITORS (341 MEETING):
This is your court meeting. You must attend or your bankruptcy will be dismissed. Our office has no control over the date of your meeting. You should receive a letter from the court within 2 weeks of filing telling you this date.

DISMISSED:
Your bankruptcy was not successful. If your bankruptcy is dismissed you will have to start the bankruptcy process from the beginning and all the same fees apply.

DISCHARGED
Your bankruptcy was successfully completed. Your debts were discharged meaning you are no longer responsible for paying them. If a creditor was not listed or improperly listed, then your debt to them may not be discharged.

DISCHARGE DATE:
This is the day that your bankruptcy is over. It is approximately 60 days after your court meeting.

REAFFIRMATION AGREEMENT
This is an agreement between you and your creditor. If you sign a reaffirmation agreement you are agreeing to keep secured property and continue paying for it. By signing a reaffirmation agreement, the debt is not discharged. Usually you have 60 days from the date you signed the reaffirmation agreement or until the end of your bankruptcy, whichever is later, to rescind or back out of the reaffirmation agreement.

REAFFIRM
If you want to keep secured property you will reaffirm with the creditor. This means you will sign an agreement that you will continue paying on your debt and the debt will not be discharged in bankruptcy.

SURRENDER
If you do not want to keep secured property you will surrender or give the property back to the creditor. The debt will be discharged in bankruptcy and you will not be responsible for paying it back.




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Al Miller © 2004
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