Blu Posted April 22, 2008 Report Posted April 22, 2008 I was served a summons recently concerning a cc debt (it's within SOL), first hearing in about 5 months. Is it too late to file for a BK 7?Any advice greatly appreciated!Blu
bingo Posted April 22, 2008 Report Posted April 22, 2008 Unsecured debt like cc's can be discharged in a Chapter 7. The fact that a lawsuit has been filed is not relevant. You just want to file before a judgment is granted. That's just extra time and legal fees to get the judgment vacated post bk.
Blu Posted April 22, 2008 Author Report Posted April 22, 2008 Unsecured debt like cc's can be discharged in a Chapter 7. The fact that a lawsuit has been filed is not relevant. You just want to file before a judgment is granted. That's just extra time and legal fees to get the judgment vacated post bk.Thank you for the advice Bingo. The first court date is still a few months away, I think I can get the BK filed way before the first court date. In the meantime, I'll file an answer to the summons; don't want a default judgment.
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