Hi - my name is XXXXX XXXXX I'm a Bankruptcy and Consumer Protection attorney here to assist you.
Unfortunately, a Chapter 11 filing will have a significant negative impact on your wife's credit rating.
However, a default judgment will also have a significant negative impact on her credit rating.
Good morning sir.
And yes, unfortunately, credit card companies do close accounts when a Bankruptcy is filed.
Good morning to you also.
trying to search for alternatives. We have offered to buy out the mortgage and the bank refuses to talk. Her after is terminal and she doesn't need additional stress.
You said, "Her after is terminal...". Did you omit something?
If you are able to buy out the mortgage, are you also able to pay the default judgment?
sorry, her father....
Thank you for the clarification.
The attorney indicates not, should I request a hearing. I unfortunately have made them (execs at the bank, small bank) very upset. We have tried to work with all three of their counsel and they say we will be working through the court. They just filed a garn notice to garn my wife's 200/wk check at the local library.
I meant do you have the money available to pay the default judgment?
The original judgment of $135K yes. However, they have added $40K in legal fees, they have an insurance claim which they have deposited and not disclosed. So I really do not know what is owed.
Thank you for your response.
Perhaps the lender will be more willing to accept the $135K if you inform them of your intention to file a Bankruptcy - where they are likely to receive less than $135K.
I personally filed a pro se on Mar 21st to stop their sheriff sale. They have assigned a bk counsel and that is the attorney I asked..
I did not realize you already file a Bankruptcy.
Well - since your wife already has a deficiency judgment in place, the Bankruptcy filing will not have a substantial further negative impact on her credit rating - as, unfortunately, the major portion of the damage was already done by the judgment.
I am sorry I could not give you better news.
ok, thank you.
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