Discharged, now what? & home reaffirmation question

[starting_over]

I have a feeling this means I'm all done, but I'm not sure ...

Today I opened a letter stating "Discharge of Debtor" dated 10:29/08.

Does that mean I'm all done?

1. What do I do if someone is still calling me about debts (I think it's illegal & they are not supposed to), but for the last wk or two I've been getting automated collection calls. Once I got a person, and they said they'd take care of it & not call back, but something in their system must not be updating b'c I keep getting calls that say 'call this 800 number back at this time' ... from the collection agency.

2. This is my bigger concern: I didn't ever sign re-affirmation papers with Countrywide. Does that make any difference? (I'm in NV/Nevada) In 1 year the loan modification will return to the regular interest rate plus some amount, more than I could pay since my current mortgage is $2000 a month now.

My plan was to continue paying the current amount for 1 yr, try to re-build my credit and try to refinance after the BK to a loan with a fixed rate instead of an ARM.

Is anyone else in this situation? Countrywide never sent me anything during the BK either. In my BK paperwork I stated that my intention was to re-affirm, and didn't realize I needed to do additional paperwork for that to happen. I thought countrywide or the court would notify me of what I needed to do next.

3. Is there anything else I'm supposed to do?

[BassBoy]

I have a feeling this means I'm all done, but I'm not sure ...

Today I opened a letter stating "Discharge of Debtor" dated 10:29/08.

Does that mean I'm all done?

Yes, you are discharged...........done.

What do I do if someone is still calling me about debts (I think it's illegal & they are not supposed to), but for the last wk or two I've been getting automated collection calls. Once I got a person, and they said they'd take care of it & not call back, but something in their system must not be updating b'c I keep getting calls that say 'call this 800 number back at this time' ... from the collection agency.

This will happen sometimes and it may take a couple of times to get this straightened out. If you hired an attorney to handle your case, inform them of who is calling. Your attorney should be made aware of what's going on anyways. On your end, you can simply get an address to send a copy of your discharge order to (certified mail). Sometimes, a verbal "This debt was discharged in BK" from you doesn't always get the job done. It's better if the CA's have a copy of the discharge notice anyways.

This is my bigger concern: I didn't ever sign re-affirmation papers with Countrywide. Does that make any difference? (I'm in NV/Nevada) In 1 year the loan modification will return to the regular interest rate plus some amount, more than I could pay since my current mortgage is $2000 a month now.

Without a reaffirmation, you could walk away from your home at any time, if it came down to it. Of course, you can continue to make your payments as scheduled and you'll be able to keep the home.

My plan was to continue paying the current amount for 1 yr, try to re-build my credit and try to refinance after the BK to a loan with a fixed rate instead of an ARM.

This may be a little difficult with the current problems with loans and credit, but it wouldn't be out of the question. I will say this though.....keep working to rebuild and it could happen, and it could work out better than you expected.

Is there anything else I'm supposed to do?

Just keep up your mortgage payments if you truly want to stay in your home and keep it for the duration. Otherwise, kick back and enjoy living DEBT FREE!

[BROKENN]

Congrats! and Enjoy!!

woohooo.. Cats'

Another member of the Oct club! What was the total for Oct Woodsprite?

[WoodSprite]

Another member of the Oct club! What was the total for Oct Woodsprite?

Thanks for asking, brokenn...starting_over brings the October total to 15. Congratulations, s_o!

[AngelinaCat]

CONGRATULATIONS!!! Indeed, you are DONE!!! Here you go:

http://www.youtube.com/watch?v=_1_kgNp9oQg

[PoorGrammyinBK7]

Yes, you are discharged...........done.


This will happen sometimes and it may take a couple of times to get this straightened out. If you hired an attorney to handle your case, inform them of who is calling. Your attorney should be made aware of what's going on anyways. On your end, you can simply get an address to send a copy of your discharge order to (certified mail). Sometimes, a verbal "This debt was discharged in BK" from you doesn't always get the job done. It's better if the CA's have a copy of the discharge notice anyways.


Without a reaffirmation, you could walk away from your home at any time, if it came down to it. Of course, you can continue to make your payments as scheduled and you'll be able to keep the home.


This may be a little difficult with the current problems with loans and credit, but it wouldn't be out of the question. I will say this though.....keep working to rebuild and it could happen, and it could work out better than you expected.


Just keep up your mortgage payments if you truly want to stay in your home and keep it for the duration. Otherwise, kick back and enjoy living DEBT FREE!

Bass Boy - maybe you can answer some of my questions.

We have been discharged and did not reaffirm anything, (thanks to all the good advice here) but we have continued our payments on time.

We have a HELOC with a bank and a 1st mtg with a CU.

We did receive a letter saying they had cancelled the HELOC. We have not gotten any more bills in it -- only a statement which shows the amount owed (no payment amount or due date). The amount owed has NOT gone down with payments. Don't understand this.

Can interest continue to accrue on discharged debt? We thought about just not paying on the HELOC any more (continuing to pay regular payments on 1st mtg).

If we did not pay any more on the HELOC - would there be any additional interest - or does it remain the amount of the balance at time of BK? I know the lien remains, but we have no equity right now (thanks to the economy), so I wonder if they would bother to foreclose? Maybe they would do better to write it off?

If we were to be able to sell it, what then?

On the other hand, we also wonder if we should just stop paying all of it and let it go on in to foreclosure. How long could we stay here? 6 months? We could rent then and I guess try to buy something in a couple of years, if we wanted, (if the market is still down) right?

Any suggestions?