Legal Question in Bankruptcy in Georgia

I filed bankruptcy and had it voluntarily dismissed after finding a job. I've since found that several of my accounts have been charged off. I've been making scheduled payments (arranged with the company after the bankruptcy) on these accounts. Should I be doing this? Am I paying these accounts down? Or am I throwing my money out the window?


Asked on 1/05/11, 4:30 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Charged off does not mean you don't owe the money.

A charge-off is a derrogatory comment by a creditor that damages your credit history (they are essentially saying they consider you a deadbeat) and it sometimes also has some tax accounting advantages for the lender.

Oftimes a charge-off makes it more likely your debt will be sold to a collector.

It is usually a very bad move to have dismissed a bankruptcy when you find a job, as the damage to your credit remains, but you end up having to pay debts that were otherwise going to be discharged. Did your attorney suggest this or did you do it against his advice?

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Answered on 1/10/11, 4:39 pm


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