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canceling BANKRUPTCY

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slim6a

Guest
What is the name of your state? Missouri

About 3 wks ago I filed for debt consolidation of all my bills and on the last visit to the lawyers office, I was informed that this was really a chapter 13 bk. They have given me the amount of what my monthly payments would be on the other visits but at this meeting it went from $383 to $1159. I was really disappointed. so after returning home and sharing with my husband (who was unaware that I was doing this) hit the ceiling and told me he would help pay off the debts I owed.

So I called the lawyer and told him this and he became angry, told me he had already filed and that even if I paid everyone off...the BANKRUPTCY would still appear on all credit reports for ten years. This seems so unfair! I even asked if someone could write a letter explaining what happen and I was told that no.

Is there anyone who knows whether there is some way to have this remove???
 


Ladynred

Senior Member
First of all, sounds like you got hooked into one of those nasty scams - those that offer debt consolidation but its really bankruptcy.

Second you most certainly CAN cancel the bankruptcy, happens all the time. The lawyer's probably pissed because he won't get that fat fee they get for Ch 13's.

It IS true that having filed for BK it WILL appear on your credit report, HOWEVER, if its dismissed, voluntarily or otherwise, that ALSO must appear on your credit report. It *may* stay on your report for 10 years, but Ch 13's do drop off at 7. I don't think the dismissal will give you any leverage in getting it removed, unfortunately.

If you can turn it all around and pay all the creditors, then it may mitigate the entry of the bankruptcy. If you're already delinquent or have charge-offs, make sure that you negotiate with creditors for a positive entry on your credit report in return for payment. You especially want to do this if you're dealing with third party collection agencies.
 

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