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Hello, Reporting debt to the 3 main credit reporting agencies is just a voluntary business decision. Lots of people owe debts that are not on the credit report. You can, I am assuming still add it on to your schedules and amend the matrix sent out. Do it right away, however. Your trustee may schedule another meeting of creditors. But, it probably will be discharged anyway. Just to be sure amend your schedules immediately.
Hi Mr. Kennedy,
Two credit cards that were on my credit reports I left out of my bankruptcy because I wanted to keep them. They were automatically closed and I can't use them anymore. Why was this real estate investing class debt not automatically closed like the credit cards? neither was included in my bankruptcy.
Thanks in advance
Somehow the credit card companies must have been notified of the bankruptcy. If you wrote them down, they were included, even if you continued to pay the payments and they would close your account. I don't know how they would know, if you didn't put them on the schedules. However, you should always put all your debts on the bankruptcy and re-affirm the ones you want to keep paying. Amend your schedules if you now want to get rid of the other debt for sure.
Why do you think the real estate investing class debt was not wiped away? Are finance companies not notified when one of their clients files bankruptcy? Could it be that student loans are not included in chapter 7's? I don't want to go through the trouble of amending my schedules for a $2,500 debt if it is exempt like my student loans.
I'm waiting for an answer to my latest question submitted last night.
I didn't list a Lowe's credit card nor a Goodyear credit card on my schedules because I wanted to keep them, but those companies found out about my bankruptcy and closed the accounts? Because the debt I'm concerned about was a class, could it be categorized as a student loan?