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Understanding Your Bankruptcy Filing: Schedules G, H, I, and J
In our last several blog posts, we have covered the types of information that are needed when you file your bankruptcy petition. We discuss the final schedules included in your petition in this article.
If you are wondering if bankruptcy is the right option for your finances, it may help to review how filing has helped millions deal with their finances. There are advantages to filing that has helped debtors get back on track and gain financial freedom to move forward with their lives. The following points may include [...]
This is the case of Willie Banister from Chicago, Illinois who was appearing for a Chapter 13 bankruptcy consultation. Mr. Banister has never filed a bankruptcy before. He is not a homeowner. He is renting on a month to month lease from a landlord in Chicago. He does not own a motor vehicle. In terms+ Read MoreThe post Repay Parking Tickets Over A Five Year Period appeared first on David M. Siegel.
This is the case of Willie Banister from Chicago, Illinois who was appearing for a Chapter 13 bankruptcy consultation. Mr. Banister has never filed a bankruptcy before. He is not a homeowner. He is renting on a month to month lease from a landlord in Chicago. He does not own a motor vehicle. In terms+ Read MoreThe post Chapter 13 Bankruptcy Helps Pay Off Parking Tickets appeared first on David M. Siegel.
(305) 891-4055 - Over 25 Years of Experience - Over 8,000 Cases Filed - 1221 Brickell Ave., 9th Fl., Miami, Florida - Jordan E. Bublick - www.bublicklaw.com
You will normally receive your Chapter 7Discharge Order about 3 to 4 months after the creditor's meeting. This Order renders unenforceable all debts other than those specifically excepted by law. It also enjoins creditors from attempt to collect on debts that are discharged.
Exceptions from Discharge
In general, items not dischargeable in bankruptcy include the following:
- Student loans and educational benefit overpayments if they are made, insured, or guaranteed by the government or funded under a program funded in whole or in part by the government or a nonprofit institution unless you can show an "undue hardship". The same rule applies to obligations to repay funds received as an educational benefit, scholarship, or stipend.
- Certain taxes and debts incurred to pay certain taxesCreditors not listed in the bankruptcy case or not otherwise notified about the case
- Debts for fraud or defalcation while acting in a fiduciary capacity, embezzlement, or larceny,
- Debts to spouse, former spouse, or child for alimony, maintenance, or support and obligations of a similar nature
- Damages for willful and malicious injury to another or another's property.
- Certain governmental fines and penalties
- Debts arising from drunk driving
- Debts for money, property, services, or for credit obtained by false pretenses, false representation, or actual fraud (This includes credit card charges, cash advance, etc. made without the intent to repay).
- Debts for money, property, services, or for credit obtained by use of a written statement that was materially false concerning your financial condition if the creditor reasonably relied on it that was used with the intent to deceive
(305) 891-4055 - Jordan E. Bublick is a Miami Bankruptcy Lawyer with over 25 years of experience in filing Chapter 13 and Chapter 7 Bankrkuptcy Cases. Bankruptcy Attorney Jordan E. Bublick has filed over 8,000 Chapter 13 and Chapter 7 cases.
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for December 05, 2013 Legacy Videogame Company Atari Cleared to Exit Bankruptcy Biggest Bankruptcy Before Detroit, Alabama County Stages Comeback Europe’s Solyndra and the Beauty of Bankruptcy
If you own a small business and need help reorganizing your debts, Chapter 13 bankruptcy may be an option to consider. This chapter can help you develop a repayment structure based on income earnings, type of debts and expenses you have. There are a few factors to consider in helping you understand how the process [...]
Debtors sometimes are unable to open a checking account after receiving their bankruptcy Discharge. These debtors typically had a troubled history with their bank, generally involving fraud, bounced checks or excessive overdraft activity, resulting in this negative information being reported to a check reporting company known as Chex Systems. Such negative information remains in... Read More »
Debtors sometimes are unable to open a checking account after receiving their bankruptcy Discharge. These debtors typically had a troubled history with their bank, generally involving fraud, bounced checks or excessive overdraft activity, resulting in this negative information being reported to a check reporting company known as Chex Systems. Such negative information remains in this database service for five (5) years and is readily accessed and utilized by its members (usually financial institutions) in making decisions about who will be allowed to open a checking account, etc.
You will not be “deleted” from Chex Systems just because your debt to the bank was discharged in bankruptcy, as they are not required to remove a previously submitted, accurate report. However, Chex Systems is credit reporting agencies just like Equifax, Experian and Trans Union, and as such is bound by the Fair Credit Reporting Act (“FCRA”) and other laws. The banks reporting to Chex Systems are required to regularly update their consumer reports with accurate information. Accordingly, when the debt that formed the basis of their negative report is discharged in bankruptcy, the member bank must report the account as “$0.00 balance due, discharged in bankruptcy”, or words to that effect. If this is not done, there is a dispute procedure set forth below that is very similar to the procedure employed to fix a credit report that is plagued with inaccurate, post-bankruptcy entries:
Step 1: Order a copy of your consumer report from Chex Systems, whose mailing address for disputes is: 7805 Hudson Road, Suite 100, Woodbury, MN 55125.
Step 2: Review the Chex Systems consumer report for accuracy, making sure that each discharged debt is reported as “$0.00 balance due, discharged in bankruptcy”, or words to that effect.
Step 3: If an inaccurate entry is noted, you should send to Chex Systems, preferably by certified mail:
· A copy of your Chex Systems report, with the inaccurate information highlighted or flagged in some fashion;
· A copy of your bankruptcy Discharge;
· A copy of Schedules “D”, “E” and “F” from your bankruptcy petition;
· A letter explaining that the disputed item is no longer accurate, and that it should be reported as “$0.00 balance due, discharged in bankruptcy.”
Step 4: Chex Systems has 30 days to investigate your dispute. During this time the FCRA requires them to contact the member bank to verify that the account now has a $0.00 balance due because of the bankruptcy Discharge.
Assuming that Chex Systems and the member bank follow the law, employing the above procedure should result in the previously reported negative information either being deleted or corrected so that it no longer acts as an impediment to your opening a checking account.
Prior to an actual bankruptcy filing our firm generally advises our clients, as a prophylactic measure, to attempt to open a checking account in a bank where they do not owe any money. Using this new account after a bankruptcy filing never presents a problem.
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Learn more about how Bankruptcy works and what you need to know.