what do i do with all this bk paper??

[dumbdumb]

hi all


my bk is over and i have this rather thick folder of all this paperwork i filed.... Do i really need to keep this #$#%? or can i chuck it. and just keep the discharge notice?

[magyar123]

I'd keep everything for a few years - you never know when you'll need it. Creditors sell charged off/bad loans to collection outfits- without actually noting on some that they were discharged in bankruptcy.

[robivi3]

NEVER throw away the discharge or Creditor Matrix, yes it's alot of papers but you are tied to it for many, many years. Don't despair, in ancient times they took your tools, broke your workbench (banca rota, the broken bench), BANNED you from the trade guild everywhere you went (AND YES THEY DEMANDED REFERENCES, KNEW ACCENTS AND EVEN IN THOSE DAYS YOU NEED ID TO GO FROM PLACE TO PLACE AND PERMISSION), and sold your family.

Keep the papers for life for your own good, they will pop up from time to time. A relatively minor sentence for writing off debt.

[jp2861]

I've been scanning all the miscellaneous crap and burning it on a CD. Better safe than sorry.

[FreshLikeADaisy]

Ditto 100%, keep everything for at least seven years, longer if you possibly can.

If you have to deal with taxes on forgiven debts (including deficiency judgements on foreclosed homes), your bankruptcy can serve as proof that you were insolvent at the time the debts were forgiven, which will be needed when you go to file taxes next year.

If a creditor pops up three years from now and says that you owe him $, you may have to prove that yes, you did include him on your matrix and he was indeed legally notified of your bk. A variation on this theme is junk debt buying, as Magyar pointed out.

And that's just what comes to mind right now. You really never know.

JP2861 has the right idea burning the docs onto CD as well; I have been downloading the PDF's from PACER as various items get filed in my case and doing the same. Please note, however, that CDs do not have unlimited shelf life; they can fail as early as five years (especially if kept in sunlight, etc) and of course, we've all burned a coaster or two. So definitely keep the paper, and if you can, archive to CD as well. You just never, never know.

[chpxiii]

Agree with FLAD and JP2861. Keep it all and burn it to CD.

[keepmine]

One thong I did,I logged onto pacer and printed a copy of the BNC notification of discharge that was sent to each creditor. It's near the end and the notices that were sent electronically has the timestamp the moment they were sent.

[dumbdumb]

thanks guys i am now keeping everything