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  1. #1
    Join Date
    Oct 2007
    Posts
    2

    Default Chapter 7 Filing and Key Derogatories on Credit Report

    My, first post and I'll keep it as brief as possible. I was RIFF'd at work a while ago. I began using the credit cards to pay bills and buy misc. other items (nothing significant). My thinking was that I've been laid-off before and never had a problem finding something else: I'd eventually get a new job and be able to pay off charges (My attorney looked at me like I was a dunce: maybe I am).
    Well, that didn't work out. After a while I realized I wasn't going to get a job like I'd had and be able to pay off the charges. I stopped using the cards, retained an attorney, and made plans to wait 90 days until I would be able to file (Everything was current at the time). I notified each creditor (and collection agency) I would be filing.
    Problem was, I didn't get her fee together until May. I didn't file in May because of serious heath problems with my son. In any case, I just filed last week. In getting ready to file I retrieved a credit report and found creditors adding Key Derogatories with charge-off's, write-off's, and skip-trace. What does this mean to me in terms of the bankruptcy, and longer-term credit/employment issues?
    I also had trouble finding the correct collections agencies to add to the filing and just received a new one this week. My attorney tells me I don't really have to amend the filing, that the letters to the original creditors suffice, that they should forward the notifications from the court to the correct agency. Is she right, or should I pay to amend?
    Sorry it didn't turn out brief.

  2. #2
    Join Date
    Oct 2007
    Posts
    2

    Default Chapter 7 Filing, IRS, and April 15th

    I forgot to ask in the previous post about having filed after April 15 this year. I've read some places (including the link at bottom, p.3) that missing the April 15th date means the debt is likely not dischargeable, the creditor will file a 1099-C with the IRS, and the full amount will be considered income by the IRS. My attorney never said a word about it. Anyone know if this is true?

    I also read somewhere else the income point is debatable.

    http://myvesta.org/pubs/pdf/beware_of_the_irs.pdf

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Chapter 7 Filing, IRS, and April 15th

    I am not going to second-guess your lawyer. I'm not sure I even have enough information to try, if I were so inclined.

    I'm not sure what you're even trying to ask in your follow-up question.

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