Hello all,
I filed a chapter 7 a few months ago, and was looking for feedback.
See, I "only" had about 70K in debts that I erased (mostly from IRS debt), but I had a pending lawsuit that I disclosed as well.
So, fast forward a few months, and the lawsuit is looking good, and it might be about 100K or so.
Unfortunately, my attorney said that I can only keep 10K of that money and the rest has to go back to pay the creditors since it was less than 2 years from when I filed.
If the lawsuit settlement was over 2 years, then I would be fine. It is not official, but the settlement looks like it will come in, in a few months.
I am just upset because my creditors will get all the money , and I will still have the BK on my record for 10 years.
Are there any options here?
I felt I needed to file due to health issues and no money. The interest and penalties were adding up fast too. I waited over 3 years for this settlement and nothing. Of course, now they finally want to settle when I don't have the money and I filed for the Chapter 7, which went through fine.
Thanks for any feedback.
-Mr. Nevada
I filed a chapter 7 a few months ago, and was looking for feedback.
See, I "only" had about 70K in debts that I erased (mostly from IRS debt), but I had a pending lawsuit that I disclosed as well.
So, fast forward a few months, and the lawsuit is looking good, and it might be about 100K or so.
Unfortunately, my attorney said that I can only keep 10K of that money and the rest has to go back to pay the creditors since it was less than 2 years from when I filed.
If the lawsuit settlement was over 2 years, then I would be fine. It is not official, but the settlement looks like it will come in, in a few months.
I am just upset because my creditors will get all the money , and I will still have the BK on my record for 10 years.
Are there any options here?
I felt I needed to file due to health issues and no money. The interest and penalties were adding up fast too. I waited over 3 years for this settlement and nothing. Of course, now they finally want to settle when I don't have the money and I filed for the Chapter 7, which went through fine.
Thanks for any feedback.
-Mr. Nevada
Bankruptcy Wizard
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