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dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4644
Experience:  35 plus years of experience specializing in bankruptcy law
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How would u suggest I proceed.The plaintiff said he cant settle

Resolved Question:

How would u suggest I proceed.The plaintiff said he can't settle if I filed bk.Do I get a contingent letter
from plaintiff if I get bk dismissed. they will settle for a
$1,000.I assume I don't get back my filing fee.How is a dismissed bk. viewed by creditors or employers vs a regular bk? Does it fall off report sooner than 10 years. My brother suggested dont even settle with plantiff.Just get it dismissed and they may blow it off once they see the bk.How would that work once my trial is suspended?Once dismissed do u think plantiff would still proeed with trial since they were going to settle for a $1,000 a week before the trial?Thx
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  dylatess replied 2 years ago.
Over 33 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions. You are also ,absolutely correct. Have the plaintiff agree in writing that they will accept $1000. Then file your request for dismissal.you are also correct that the filing fee is non refundable. Likewise, the fact that your credit report will indicate that you filed bk but it was dismissed without prejudice is looked upon more favorably then if you did file bk and went through with it. However, because you have filed, dismissed or not, it will cause your credit score to drop.
Customer: replied 2 years ago.

The creditor/plaintiff said they would not send a settlement letter if I have already filed.Should I ask them to write a settlement letter contingent upon my dismissal if they are even willing to do tha?Now that the bk filing will remain even if I do a voluntary dismissal I don't know if it's worth even settling now since its on my record regardless.It is such ashame because I only had one more creditor left unpaid for $18,000 and one medical bill for $5,000.In your professional opinion, what would u suggest.I really did not want a BK because it is harder to get employed with that on my record and for many other reasons as well. Thx.I will hit green button upon your answer.

Expert:  dylatess replied 2 years ago.
It would be a shame for you to have to go through a k having paid down most of your bills. And l it is more difficult to obtain employment with a bk on your record. So yes, sign a contingency letter that you will pay upon the dismissal of the bk. further, even though you have filed, there is damage to your credit. But there is still more long term damage if you do not dismiss.
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4644
Experience: 35 plus years of experience specializing in bankruptcy law
dylatess and other Bankruptcy Law Specialists are ready to help you
Customer: replied 2 years ago.
Thanks.Once I file does it matter how much i make after the filing as far as be able to still be allowed to do BK 7?

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