Would it be ok to buy life insurance before filing chapter 7? My husband has life insurance from his job but it is only 50k and we don't have any on me. When we were paying our credit cards we just couldn't afford it. Can we do it now or should we wait until we file?
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Filed Ch. 7 on 9/30/10---341 11/12/10---Report of No Distribution 11/16/10
Discharged 1/21/11
Closed 1/26/11
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From what I've read, it is harder to get life insurance once you file, so it is recommended to get it prior to filing. Hope this helps.Filed Chapter 7 on July 30, 2010
341 scheduled for August 26, 2010 - Done!
- Report of No Distribution
Discharged!!! - November 15, 2010 -
Kartoons,
Thanks! I thought I read that somewhere, but I don't want to make any wrong moves before I file. Although, hubby and I would feel much relief if we both had adequate life insurance. We have children to think of and we would sleep better at night.Filed Ch. 7 on 9/30/10---341 11/12/10---Report of No Distribution 11/16/10
Discharged 1/21/11 Closed 1/26/11Comment
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Life insurance is not only a legitimate expense but a necessary one. I would go ahead and get it.Chapter 7 filed December 11, 2009, 341 Meeting held on January 7, 2010
Deadline to File a Complaint: March 8, 2010
Discharged and Closed March 11, 2010Comment
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life insurance exemption
Hi mommi,
Many states have an exemption specifically for life insurance policies.
Tom in ColoCh7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010Comment
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