Very Worried About It All

[pambysue]

I spoke with my lawyer today regarding my chap 7 BK that I am planning to file the beginning of Dec. I was served with a summons/complaint for my mortgage & have 20 days (until 11/27) to answer. He said if I dont answer they will rule for a judgement/lien & go after my bank account (which is overdrawn!) or garnish my wages, however he doesnt believe any of it would be done before december so we should be okay until december 8th. He is preparing all my documents and as soon as my fees are all paid on the 8th, he will file the petition.
I am worried now about my bank account. It is overdrawn due to stupid online gambling and all the fees for the overdrafts in the amount of $490! I also had 2 payday loans from july ($300) and august ($250) that I dont know if I can claim on my BK petition. I dont know their address OR any account numbers as they are so secretive about it all.
Is the trustee going to throw my case out because of these things? I am worried sick about it and have SO learned my lesson! I tried to play "catch up" with my gambling problem and got further in the hole (hence, the $490 overdraft on my account!). I really need to go back to G.A. even though I know I will NEVER place another online bet again! I have lost everything. I am losing my house. thank God I still have my 12 yr old daughter and my job! Hopefully, I can wipe the slate clean and move on with my life! I am 50 years old and I would like to retire someday without dying from a heart attack or stroke because of all the stress.
Thankyou for hearing me out and any words of encouragement are greatly appreciated!

[LostOne0069]

Stop worrying about all this... no, you case won't be thrown out because of those things. The WORST that could happen on any of those is that they wouldn't be discharged and you'd still have to pay it.... and this is REALLY unlikely to happen.

The only problem with the overdraft account is that, if you include it in your bk (which, yes, you can do this) then it will make it hard to open a new account later. Otherwise, don't worry about it. the payday loans, the overdrawn account etc. are all dischargeable.

Talk to your attorney, he knows your situation, and should be able to give you adivice on how to handle the payday loans and how to get the addresses for them. One way that I would recommend and I'd be suprised if your attorney hasn't already recommended is to get a credit report. The creditors will list their names and addresses on there... use those addresses if you can't find anything better.

Relax, calm down... it's going to be OK. Believe me, I know how you feel, but your situation doesn't sound NEARLY as bad as many that sail through ch 7.

[pambysue]

Thankyou Lost, for your words of encouragement! I am a nervous wreck & I know i have to settle down..lol (sometimes easier said than done!) I am looking forward to getting this all over & done with..the chap 7 BK, the foreclosure, etc..and getting on with life! I am determined that 2007 is going to be a GOOD YEAR for me..since I haven't had a good year in the past 5! One more question..do you think I can leave my bank account off the BK and get it caught up rather than include it and run the risk of not being able to open another account in the future? Or..do I HAVE to include it? thankyou again for your wisdom & support

[lrprn]

One more question..do you think I can leave my bank account off the BK and get it caught up rather than include it and run the risk of not being able to open another account in the future? Or..do I HAVE to include it?

Pambysue, do NOT leave your bank account off your bankruptcy! ALL of your financial accounts and debts MUST be included on your forms (it's the law).

We had an overdraft account with our checking account that was around $3K when we filed. We opened a checking account at a different bank before we filed to ensure our first bank couldn't drain our original account there to pay off the overdraft account if we continued to use it. We are still using our second checking account at the different bank and even have a debit card with them - haven't had a single problem since filing our Ch 13 five months ago.

Be sure to include the two payday loans on your creditors list too. Even if all you have is the name of the payday sharks, either drive by and get the address if you can or perhaps your lawyer's staff can research them for you. You don't get to pick and choose what is listed on your forms. To leave something off opens you up to a charge of hiding assets or worse, leaves you owing money you don't have to owe. You won't be the first person to file on a bank or credit union because of a checking account problem and you won't be the last. It isn't the end of the world. You will be able to open accounts after that, although they may have to be at local banks or credit unions rather than with the "big boys" (ex. Bank of America).

Hang in there - you are doing really well! It's always the hardest emotionally before you file when you are still figuring things out.

[LostOne0069]

You HAVE to include all debts on your bankruptcy... your best bet on the bank account is to file your petition and then open a new bank account with a different bank the very next day. This account won't be a part of your bankruptcy since it was opened after you filed and you have a chance of getting it opened before your current bank gets you "blacklisted" for including your old account in the bankruptcy.

[pambysue]

thanks so much Lost & HHM. I am sure glad I found this site! I think I will try to open a new account the day after I file..that's if I can find a bank to take me! For some unknown reason..I was in chexsystems about 6 years ago?? I did get bank of america to open an account for me..but, that is the one I have now. I guess I can shop around before I file..and then when I find one..I will go the day after and make the opening deposit.
Thanks again!

[ekelly4200]

thanks so much Lost & HHM. I am sure glad I found this site! I think I will try to open a new account the day after I file..that's if I can find a bank to take me! For some unknown reason..I was in chexsystems about 6 years ago?? I did get bank of america to open an account for me..but, that is the one I have now. I guess I can shop around before I file..and then when I find one..I will go the day after and make the opening deposit.
Thanks again!

If it has been that long then you are probably off the chexsystem by now. I am in the telechex system and just opened an account with WaMu last week since they dont use telechex.

[Kam]

What are the names of the payday loan places? Pay day loan companies can be included in your bk petition. I would also open another checking account somewhere and include your old checking account in your petition.

[pambysue]

Thankyou for all the advice! The payday loan companies were Ameriloan & USFASTcash.
I am going to shop around for another bank that will allow me to open an account. But, should I wait until the day after I file? Or is it okay to do it before I file?
Thankyou all again