adam999 10 Posted November 15, 2010 Report Share Posted November 15, 2010 Hi every one,can any one tell what happens to debt cosolidation when we file bankruptcy..? Link to post Share on other sites
WhoCares1000 768 Posted November 15, 2010 Report Share Posted November 15, 2010 I would almost bet that these idiots would state you owe them money so list them as a creditor along with the other creditors you have (in fact, that will make it easy because the debt consolidation people have made the list for you) and they go away in the CH 7 (or become part of the CH 13 consolidation). Link to post Share on other sites
Denita 434 Posted November 18, 2010 Report Share Posted November 18, 2010 (edited) Ignore the post above. Consult your bankruptcy attorney. List your DMP co in your BK. The payments to the DMP stop the moment you file. Your assets are not seized. You have exemptions in each state that will allow you to keep your assets up to the amount of the exemption. Each state has different exemption amounts. Again, your BK attorney will know the amounts allowed in your state. Edited November 18, 2010 by Denita more info Link to post Share on other sites
esterlydsl1 10 Posted November 24, 2010 Report Share Posted November 24, 2010 When you decide to file a bankruptcy, your lawyer has to be informed about your exact financial position. You can disclose every aspect of debt consolidation and the bankruptcy lawyer will help you out in preparing the case document for you. Link to post Share on other sites
