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Bankruptcy Law/AMENDING A BANKRUPTCY
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Question
My husband and I filed Bankruptcy, without the help of a lawyer, in 2005 before the new laws regarding Bankruptcy went into affect. This year we wanted to look into buying a house, but when we got our credit reports, we noticed that a credit card ($2,000) that we had filed on was still on there saying it was "Charged off as a bad debt." Looking back on our discharge papers, we noticed it was not listed as a debt, even though we are positive that we listed it. Is there a way that we could reopen our bankruptcy case now to included it in our bankruptcy? If so, is it even worth the time and effort now since the card limit will probably cost the same as a lawyer? Thank you for your response.
I suggest you dispute the item on your credit report, on the grounds that it was discharged in bankruptcy. There is a provision in the bankruptcy law that says an unlisted debt is discharged anyway, so long as it is the kind of debt that is dischargeable, and so long as the bankruptcy was a "no asset" case, (with none of your assets taken by the bankruptcy trustee).
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The credit bureaus rarely ask for copies of the actual bankruptcy schedules, so I think trhis should work for you, and you should have your new credit report in about 2 weeks after you submit the dispute. You might even try to do the dispute process on line, for faster results.
Good luck on buying your home. It's definately a buyers market right now, lots of good deals out there!
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you very much for your very prompt reply. I will definitely be contacting the credit bureaus right away! I will be sure to let you know what my results were in approx. 2 wks! | ||
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Answers by Expert:
Los Angeles Bankruptcy Lawyer Leon D. Bayer
Expertise
Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/
Experience
Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.
Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.
Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.
Education/Credentials
B.A., J.D.
Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000
MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.
Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.
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