In Debt Again!

[tshores]

What is the name of your state?What is the name of your state? Michigan

My husband and I filed for bankruptcy and had it discharged only 3 years ago(Filed in Nov 2001 and discharged in Jan 2002). We are in deep debt trouble again, creditors calling all the time, lawsuits, etc. Part of the reason is I lost my job and have not been able to help pay for these debts. Do we have any options for bankruptcy again, or any advice. We have approx. $30k in debt. Any help would be much appreciated. Thanks.

 

[Shrike1070]

What chapter did you file in '01? You can only file one type of chapter once every 6 years (with the new law that goes into effect in October it will be once every 8 years, I believe). So if you filed Chapter 7 in '01, you would not be able to file another chapter 7 until 2007 or 2009 depending on which law they apply to you. However, if you filed chapter 7 in '01, you could still file a chapter 13 with a re-payment plan now.

Maybe someone else can confirm this?

 

[tshores]

We filed for a chapter 7 bankruptcy in '01. Also, does the date go by when you filed or when it was discharged? Just so happened we filed late in the year '01 and had it discharged Jan '02.

 

[bigun]

You won't be able to file a chapter 7 for 6 years {soon to be 8 years} from filing date.
If someone has a job, you may file a Chapter 13.

 

[tshores]

Thanks so much for the valuable advice. What is the difference in filing chapter 13 or using a debt management agency? Which one would be better in anyones opinion? Thanks again!

 

[bigun]

A debt managment company will likley charge outrageous fees and then not be able to negotiate with creditors.
A chapter 13 {depending on disposable income} may well let you pay just a small part of yhe unsecured debt and not create a tax liability.
Go see the lawyer that handled the Chapter 7 and see what sort of numbers they propose.

 

[wayne-o]

i spoke with a debt management/ credit counseling service before filing my chapter 13. There were fees involved and I was going to have less money than I would've had after filing the 13. Meaning that the trustee gave me more money to live on than the credit counseling co. The plan that the debt management company was going to give me was going to take 4 years with the accounts staying on my credit report 7 years after completion. The bankruptcy will be on there 10 from date of filing. So many of the debt management companies have been proven to be SCAMS. Like the other poster said, seek out the advice of your attorney. In a chapter 13, you can include the attorney fees in your plan as well. Good Luck

 

[toughluck73]

Bankruptcy will also keep you safe from any possible lawsuits. I am not sure that a debt management agency can do this.