Charged off accts, how are they

[secondtime2]

handled? Do you need to include in C13? All but two accts are charged off, does that mean we won't get sued if we don't filE/

[DeadManCrawling]

Charged off is an accounting phrase that has nothing to do with you or your finances.

All it means is they lender or CC company has decided they cannot collect the full amount. They then add that loss to their bookkeeping records.

However, they sell the debt to debt buyers, collectors, who WILL come after you. Far from meaning you won't be sued, it probably increases your chances.

Yes, ALL debts are included. You will, in CH 13, be paying pack a percentage of the debts. In most cases. Some do not pay back any to unsecured. If you are in a CH 13, all creditors will get a percentage, smaller than the original debt, under your BK plan.

Remember, for CH 13 BK, you usually have to be current on secured debts, like house and cars, if you wish to keep them.

Good luck to you,

-dmc

[lrprn]

Remember, for CH 13 BK, you usually have to be current on secured debts, like house and cars, if you wish to keep them.

Actually, DMC, this is true only for Ch 7. Ch 13 filers can be in arrears and put the arrears in their plan to pay them back over the life of the plan.

It's Ch 7 filers who have to be current to keep assets like cars and houses when they file.