A question about Chapter 20

[southernbelle]

I'm gearing up to file a non-dischargeable Chapter 13 after my Chapter 7 discharge and have a few things I'm trying to work out in my own mind.

With two bankruptcies on my credit report, would it be virtually impossible to obtain credit later? (I'm trying to avoid excess penalties and late fees on the taxes by filing the chapter 13).

Would I have to wait until the case is completely closed (not just discharged) prior to filing the chapter 13? Since I have assets to be sold by the Trustee, I don't know how long it will take to close my case. Should I use the time it takes to close my chapter 7 to pay off debts that will free up disposable income to help my chapter 13 and to pay the taxes at 100%?

I know this is unchartered territory, but I was just wondering what opinions anyone had on the new chapter 20. Thanks again.

[rfassett]

I would think that the "getting credit issue" would find that credit is not THAT much harder to get because the two will be so close together - almost continuous according to my understanding. That said, it may be quicker for someone filing Chapter 7 to reestablish credit simply because of the time lines. Chapter 13 goes on for quite some time will Chapter 7 is over when its over. Again, I don't know for certain without doing the research, but I doubt that you can have more than one bankruptcy open at any given time. So I would think the 7 would have to be closed before filing the 13. What sort of debts are surviving the 7 that need to be paid before the 13? Can't you just include them in the 13? And if they are significant amounts, will the trustee question those payments? Just some thoughts.