BK and accts that have gone to collection prior to filing question
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by lucy (199.182.122.121) on August 17, 2002 at 12:39:22:
In the early 1990s when I was investigating bankruptcy as an option because all the OCs I called told me my account had gone to outside collection and they no longer had any idea who held the paper, my husband balked at being as party to the action, even though not being employed had wedged us into an extremely vulnerable position. I had no problems at all with the paperwork for my first bankruptcy because every account was with the OC, but at the time I sought advice on the advisability and feasibility of filing again to prevent the kind of aggravation I had in June, I could fill in approximate amounts connected to OCs, but nothing at all regarding who held the paper at the time the action would be filed. My understanding of the process generic to all BKs is that anyone who could conceivably have a claim to money owed needs to be listed in order to discharge debt. And I keep hearing (correctly) that regardless of whether you can be legally sued for debt that has remained unpaid past the statutes of limitation, the debt remains a debt until or unless it is discharged in bankruptcy. Has anyone done a BK when any or most accounts are in outside collection at filing and one or more of the entities holding the paper was unknown? Did any problems develop? Any information would be appreciated. FYI, this is not, I repeat not, in connection with any current intent to file. Thank you.
Follow Ups:
Post a Followup
|
