What would you have done prior to filing if you had to do it again?

[Epic]

Getting ready to bite the bullet and file BK7 in a few months. I do not know anyone who has personally filed (or admits) filing BK before, which is why I am so thankful to have found this site. From those that have done a BK, anything you would have done prior to filing that caused problems / issues during the proceedings that you could have cleared up before hand? (ie disputed TL's, assets, etc)

[WhoCares1000]

Honestly, if I knew about 6 years ago what I know today, I would not have filed BK so fast. I probably could have fought it out and probably could have made some money on the side.

As for filing, one thing I did was move to a cash only basis for a from a time just before I filed until after the bank did its assessment on my accounts/vs loans. Many banks are starting to freeze accounts so you want some cash on hand to cover basic bills.

The biggest thing though is to declare all debts, including those that will not be discharges (such as student loans). Also, make sure you know your financial situation on the exact date you filed.

[jq26]

I would have filed sooner. I paid thousands in interest that I probably didn't have to. I would have found a better attorney as well. My attorney created two "show cause" hearings after he didn't submit paperwork and then didn't tell me about my rescheduled 341. It was only by my continuous personal phone calls to the trustee that my bk wasn't dismissed.

[Methuss]

In my case the bank filed with the BK court to foreclose my primary home because it was behind by just one payment. With fees and attorney costs that balooned from $2000 to over $8000. I tried to save the house by sending a certified check to the mortgage servicer to bring the house current on the promise from their attorney they would drop the motion to foreclose. They took my money and never withdrew the motion and I lost the house anyways.

I wouldn't have sent that $8000. I would have kept the cash for my financial recovery afterwards and let the house go. That's the first thing I would have done differently.

The second is I would do a better job of not getting emotionally attached to property. In BK7 what is given up is just given up. Fighting to keep "stuff" is just stress on yourself.

[MrMarshall]

Do not use your credit cards, take out loans (payday loans), at least 3 or more months before you decide to file. Regardless if you decide to keep a debt, all debts must be listed. Lets say you have an Art Van Furniture (secured debt) you want to keep, you still have to list it on your bankruptcy. Even if there is a car note you still want to keep, you still have to list on the bankruptcy. Don't forget to add all assets (401k), bonds. And add any back taxes, student loans.

If you file yourself (Pro Se) make sure you file the form 23 with your final financial management course. Even though I prepared bankruptcies for many years (not a lawyer), I forgot to file the form 23. And the case was going to be dismissed. Of course I hurried and filed the form and my case was discharged.

Good luck

Edited October 3, 2010 by MrMarshall

[DCusr]

I am debating over filing a ch7. Is there a good reference to look at to help in deciding whether ch7 is good idea? Might be forced to so point may be moot, but there are some mitigating factors atm that don't require a rush. I am researching. Seems like if you don't really have anything judgments are about the only thing that would really merit BK cause those stick around for so long. Is there a timeline for the classes. In other words, could you take them and not file BK til much later?

Hard to read some of the stories on here.

Glad I found this forum. Nice to know there is actual life on this planet. Although I am kinda hoping the mothership will be around to pick me up anyday

[Guest usctrojanalum]

In my case the bank filed with the BK court to foreclose my primary home because it was behind by just one payment. With fees and attorney costs that balooned from $2000 to over $8000. I tried to save the house by sending a certified check to the mortgage servicer to bring the house current on the promise from their attorney they would drop the motion to foreclose. They took my money and never withdrew the motion and I lost the house anyways.

Wow, this is a really sick burn. Sorry to hear that.

[MrMarshall]

DCusr "Is there a timeline for the classes?"

I'm not positive. The last time I checked the credit counseling certificate was good for 3 months. I'll be darned if I can't remember where I originally found this information. I remember when people would do their counseling to earlier and would have to repeat counseling because the certificate expired.