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dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5156
Experience:  37 plus years of experience specializing in bankruptcy law
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Finalized a chapter 7 bankruptcy in 2009 in AZ due to real

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Finalized a chapter 7 bankruptcy in 2009 in AZ due to real estate drop. Had property in GA. Now a class action settlement has come up with a mortgage company that was listed as a creditor in the BK. If we choose to go into the settlement process, we could get about $1,000. Will we be at risk for the court re-opening our closed chapter 7 file and would we be obligated to pay those funds back to the court? Or is this such a small amount and the file is closed nothing will happen?
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.

Such a small amount is way too small for the bankruptcy trustee to adminster as his costs will far exceed the $1000. So I assure you if that is what your settlement will be, you will NOT have to repay the those funds and nothing further will happen.

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