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  1. #1

    Default Effect on Soon to Be Ex Wife Claims of Creditors

    My question involves bankruptcy in the state of: Texas

    Taking a vacation day tomorrow to go file my Chapter 13. I have a 100% payout plan and I had a few questions that hopefully someone has some experience with.

    1. 2 of my filed accounts are shared with my spouse, who didn't file. Will her credit bureau show bankruptcy filed? Will the cards show as delinquent on her file? Will this keep her from being able to get a mortgage in the future?

    2. I had several payday loans (which was the absolute worst thing I did during these rough 2 years after the terrible medical issues I went thru). Do any of you guys know if payday loan companies file a claim? I know that each of them got more than I borrowed from them before I stopped paying and was really hoping that they do not file a claim to get paid even more.

    3. There are 2 credit cards that I stopped paying about 6 months ago and each are charged off. Can companies who have already charged off accounts file a claim?

    4. When I file my 2014 taxes after the new year, if I owe a large amount, will or can the trustee roll that into the plan? My 100% payout plan is leaving me $85 each month to put away.

    5. I have read so many threads about creditors not filing claims....is this to be expected or is it kind of the luck of the draw?

    I really hope that all of the creditors get 100% of what I owed! EXCEPT for the payday loans...they already got way more than I borrowed.

    I feel much better knowing that after tomorrow morning, there is an official plan to get my life back in order, even though the battle I just ended a few months ago was much more intense.

    thanks for any information you guys may have.

  2. #2
    Join Date
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    Default Re: Effect on Soon to Be Ex Wife Claims of Creditors

    It is generally wise to wait until after your divorce to file Chapter 13. If you must proceed before your divorce is final, I suggest working with a bankruptcy lawyer.

  3. #3
    Join Date
    Aug 2014
    Posts
    9

    Default Re: Effect on Soon to Be Ex Wife Claims of Creditors

    I'm a little late to the ballgame, but maybe this will help another reader:

    1. 2 of my filed accounts are shared with my spouse, who didn't file. Will her credit bureau show bankruptcy filed? Will the cards show as delinquent on her file? Will this keep her from being able to get a mortgage in the future?
    Filing a Chapter 13 triggers the co-debtor stay. See 11 USC 1301. The co-debtor stay is an extension of your automatic stay and stops creditor collection action against your co-debtors and co-signors. Negative entries on a credit report are generally considered coercive collection attempts which violate the stay provisions. However, creditors are becoming more sophisticated and "skirt" the bankruptcy law to put pressure on the debtor and co-debtor to pay the bill.

    For instance, in the case of In re Burkley, a 2012 case out of New York, the debtor was paying a car loan in a Chapter 13 plan. The lender reported the car loan as “past due” on the co-debtor’s credit report. A motion for contempt was filed for violation of the co-debtor stay, and the lender claimed the credit entries were truthful and permitted by the Fair Credit Reporting Act. The bankruptcy court agreed with the lender and found that the lender neither violated the co-debtor stay nor the order of confirmation.

    Long story short: yeah, your bankruptcy case can negatively affect your co-debtor wife’s credit report.

    2. I had several payday loans (which was the absolute worst thing I did during these rough 2 years after the terrible medical issues I went thru). Do any of you guys know if payday loan companies file a claim? I know that each of them got more than I borrowed from them before I stopped paying and was really hoping that they do not file a claim to get paid even more.
    Yes, payday loan companies file claims. You may also file an objection, which necessitates a response by the payday loan company. If a response is filed, a hearing may be held. Payday loan companies hate hearings because it means legal expenses.

    3. There are 2 credit cards that I stopped paying about 6 months ago and each are charged off. Can companies who have already charged off accounts file a claim?
    Yes.

    4. When I file my 2014 taxes after the new year, if I owe a large amount, will or can the trustee roll that into the plan? My 100% payout plan is leaving me $85 each month to put away.
    If the plan pays 100% to all allowed claims, the trustee will not require turnover of your income tax refund.

    5. I have read so many threads about creditors not filing claims....is this to be expected or is it kind of the luck of the draw?
    Luck of the draw. The best thing you can do is to ensure that you filled out your mailing matrix correctly. Otherwise, you may get stuck with a pre-petition debt after your BK is over.

    I really hope that all of the creditors get 100% of what I owed! EXCEPT for the payday loans...they already got way more than I borrowed.

    I feel much better knowing that after tomorrow morning, there is an official plan to get my life back in order, even though the battle I just ended a few months ago was much more intense.

    thanks for any information you guys may have.
    Good luck to you.

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